SAN DIEGO—An affiliate of Zurich Alternative Asset Management, LLC has acquired Three Piper Ranch in Otay Mesa from a fund managed by BlackRock for $31.5 million. Located at 1210 and 1320 Air Wing Road, the property was 100% leased at the time of sale.
Louay Alsadek, Darla Longo, Barbara Emmons, Hunter Rowe and Andrew Taylor of CBRE along with Regan Tully of Cushman & Wakefield represented the BlackRock managed fund. Zurich represented itself.
Built in 2007 on 19.33 acres, Three Piper Ranch is a two-building industrial park totaling 333,576 square feet. The property's four tenants are CamelBak, ILG Corporation, Legacy Supply Chain Services, and AEMI.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
