Opportunity
Rockefeller Group purchased a 7.81 acre improved land parcel in Otay Mesa, Calif in 2019. The company a 135,623 square foot distribution center on the site, which is zoned for industrial use and will be designed for single-tenant or multi-tenant occupancy. The Airway Industrial Park project was Rockefeller Group’s first development in the growing South San Diego/Otay Mesa submarket, where there is significant user demand for midsize, Class “A” industrial buildings.
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Project Features
- 135,623 Square Foot Industrial Building
- 2,246 Square Feet of Efficient Office
- 32’ Ceiling Height
- 52’ x 50’ Typical Column Spacing
- 185′ Securable Yard
Results
Rockefeller Group sold the project to a fund managed by Black Creek Group, a leading real estate investment firm that was acquired by a subsidiary of Ares Management Corporation on July 1, 2021. It had broken ground on Airway Industrial Park in September 2020 and completed construction within a year. It is the company’s first industrial development in South San Diego. The company was able to successfully design, develop and sell a quality Class A industrial building with state-of-the-art to meet market demand.
The company had been focused on new opportunities in the San Diego area and the success of this project is validation of its confidence in the market.