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UPDATE: Industrial Sale Brings $15M at Opus Crossing

OTAY MESA, CA-Master Development Corp. picks up two buildings at Opus Crossing, an eight-asset industrial park. The two buildings trade at roughly $100 per sf.

By Daniel D. Williams | Updated on March 20, 2006

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

OTAY MESA, CA-Activity remains brisk at Opus Crossing, an eight-building industrial park. In the latest deal, Newport Beach-based Master Development Corp. paid $15 million for two buildings. The properties sold for approximately $100 per sf. MDC acquired the buildings from Opus West Corp, the park’s developer.Located on 8.5 acres, the multi-tenant buildings total 151,172 sf. They are built to accommodate multiple users and are already divided into eight suites each, for a total of 16 suites. Two of the suites count 15,482 sf; two count 12,104 sf; and the remaining 12 suites are built out to 8,000 sf.This sale to MDC closes out Opus Crossing as the other six buildings in the industrial park have been sold to owner/users. For the MDC deal, Louay Alsadek, Darren Mullins and Erik Parker of Grubb & Ellis

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