Currently called First International Business Center, the property stands at 9255-9485 Customhouse Plaza. It is located next to the International Port of Entry in Otay Mesa, which is adjacent to the U.S.-Mexico border, and is also situated within a Foreign Trade Zone, State of California Enterprise Zone and County of San Diego Recycling Market Development Zone.
Encompassing 724,502 sf, the circa 1989 property is comprised of nine facilities. They include three multi-tenant, bulk distribution buildings and six multi-tenant, light industrial facilities. In addition, the property contains 13 acres of fully improved and entitled land that First Industrial Realty officials say is "immediately available for build-to-suit opportunities." Current occupants include Sony, Emery Worldwide, Respiratory Support Product, Otay Mesa Chamber of Commerce and Sharp Electronics.
The seller, Mitsui Real Estate Sales U.S.A. Co. Ltd., was represented by Joe Smith, Chris Holder and Charles Adolphe of Burnham Real Estate Services ONCOR International. The same Burnham team also acted on behalf of First Industrial Realty, which plans to hold the asset as an investment.
The San Diego commercial market has been a prime target for First Industrial Realty since the firm launched its "geographic repositioning," according to Tim Gudim, the company's West Coast managing director. "This acquisition enhances our ability to provide customers with complete solutions in another key industrial market," he adds.
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