In what has been termed the largest industrial exchange in San Diego history, California Structures has swapped a 324,000-square-foot, build-to-suit Otay Mesa facility for Sanyo's 410,000-square-foot plant in Kearny Mesa.
The total value of the transaction--handled by the downtown San Diego office of Coldwell Banker--is in excess of $38-million, according to R. Michael Murphy, president of California Structures.
He added that the transaction "is a significant event for both areas. It demonstrates Sanyo's commitment in Otay Mesa and it opens up a quality facility in Kearny Mesa, in the heart of the city, for major manufacturers."
Last November, Sanyo moved to an $18.6-million, 324,000-square-foot facility on 38 acres in Otay Mesa, near the Mexican border. The plant, at Sanyo Avenue and Airway Road, is in the 74-acre San Diego Business Park, developed by California Structures, and was the largest build-to-suit facility west of the Mississippi River in 1986, Murphy said.