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Sudberry Plans 660,000-SF Business Park

OTAY MESA, CA-The San Diego-based developer partners with an affiliate of Morgan Stanley in acquiring a 36.6-acre site for development. The pair pays Pardee Homes some $9.1 million for the land. Grading of the site if already under way.

By Daniel D. Williams | Updated on December 19, 2005

(To read more on the industrial market, click here.)

OTAY MESA, CA-A massive project is already under way in the Southern part of San Diego County. At build-out, the area will see a 661,300-sf industrial business park dot the landscape near the Mexican border.San Diego-based Sudberry Development Inc., an affiliate of Sudberry Properties, has teamed with an affiliate of Morgan Stanley Real Estate Advisor Inc. to acquire a 36.6-acre site along the western end of Otay Mesa Road. The pair picked up the land for some $9.1 million and will develop Phase III of Ocean View Hills Corporate Center on the site. The partnership acquired the land from Pardee Homes and will build a 661,300-sf industrial project, according to the broker who closed the deal. Rich Kwasny, a first vice president with CB Richard Ellis, all parties in the deal. He tells Globest.com this is the last piece of land to go on the 89-acre Ocean View master plan.For Phase III, the project will include six one-story, tilt-up concrete buildings. Kwasny says the buildings sizes are 183,000 sf, 152,000 sf, 110,000 sf, 98,000 sf, 62,000 sf and 55,000 sf. The space will be available on a for-lease basis.”This is a high-quality business park,” Kwasny says. He adds that the buildings are divisible and can “accommodate users anywhere from 7,000 sf to 183,000 sf.”Grading has already begun, according to Kwasny, and the project should be completed by January 2007. Smith Consulting Architects has been brought onboard to design the park.Earlier this year, Trepco West, a wholesale distributor of groceries, finished work on a corporate headquarters site at the master plan. The project counts 134,200 sf and sits on a 6.71-acre parcel within an earlier phase of Ocean View Hills Corporate Center. The headquarters building houses 50 employees and was designed by Ware Malcomb Architects.

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