Phase One of Otay Business Park Development Complete
Elevation Land Company and a real estate fund advised by Crow Holdings Capital have completed phase one of Otay Business Park, a two-phase, ground-up, 119-acre campus of Class A, state-of-the-art industrial distribution and logistics buildings.
Otay Business Park is located within a 20-minute drive from six highways, interstates and state routes, and it sits in the Otay Mesa logistics hub of San Diego at the U.S./Mexico border. Phase one includes 612,240 square feet of space over four buildings.
The business park spans the Siempre Viva Road connection to SR-11, which is the last exit on SR-11 before entering the Otay East U.S./Mexico Port of Entry commercial border crossing. The first phase of this new port-of-entry is slated to open in late 2027.
“At full build-out, Otay Business Park will provide 1.8 million square feet of industrial space in a location that’s hard to beat for logistics efficiency,” said Elevation Land Company Founder and Principal Brig Black. “Completing this first phase of the project is a big milestone, showcasing the impeccable design and construction quality Otay Business Park offers.”
Dempsey Construction, the general contractor for Otay Business Park, worked tirelessly and around the clock to deliver phase I of Otay Business Park on schedule and on budget.
“Otay Business Park is a significant development for the region, and we’re proud to have played a role in bringing the first phase to life,” said John Dempsey, founder and CEO of Dempsey Construction. “A project of this scale requires tremendous coordination, communication and commitment from everyone involved. Our team worked closely with Elevation Land Company, Crow Holdings Capital and Ware Malcomb throughout the process, and the successful delivery of Phase I reflects the strength of that collaboration.”
Otay Business Park is expected to provide job growth to the region and is designed to support companies engaged in e-commerce, 3PL operators, storage/warehouse occupiers and continually growing manufacturing demand.
All phase one buildings at Otay Business Park offer 32-foot clear height and are available for purchase or lease. Each building is divisible to accommodate varying tenant size requirements.
- Building 1: 203,200 square feet, 197 parking stalls, 50 trailer stalls, 36 loading docks, two grade-level doors
- Building 2: 233,880 square feet, 220 parking stalls, 52 trailer stalls, 37 loading docks, two grade-level doors
- Building 3A: 95,400 square feet, 104 parking stalls, 22 loading docks, two grade-level doors
- Building 3B: 79,760 square feet, 87 parking stalls, 20 loading docks, two grade-level doors
Otay Business Park offers move-in ready spec development, build-to-suit lease opportunities and build-to-sale purchase opportunities to cater to specific occupier needs. The development team is negotiating with several interested, undisclosed tenants and buyers.
Otay Business Park is designed by Ware Malcomb. Brant Aberg and Ryan Downing of Cushman & Wakefield are marketing the property.
About Elevation Land Company
Elevation Land Company is a commercial real estate investment and operating venture focused on opportunistic acquisitions of R&D, industrial, life science and land assets in California and high-growth markets in Rocky Mountain States. We look for investment opportunities in high-barrier-to-entry locations and submarkets that have long-term job formation characteristics, population growth and strategic industry clusters. www.elevation-land.com
About Crow Holdings Capital
Crow Holdings Capital (CHC) is a real estate investment management company specializing in multifamily, industrial and specialty property types delivered through strategies that span the risk-return spectrum. Since 1998, CHC has created a diversified portfolio in partnership with leading global investors, generating attractive returns across multiple market cycles. Led by a highly experienced leadership team, CHC manages $20 billion in real estate assets and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with over 75 years of history, $35 billion of assets under management and a legacy rooted partnership, collaboration and alignment of interests. For more information, please visit www.crowholdings.com.
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American Journal of Transportation