CBRE Arranges $3.17 Million Sale of 93,218-SF Industrial Site in San Diego

20 Dec 2021

Marconi-just-sold 436

CBRE announced today the purchase of a 2.14-acre, 93,218-square-foot industrial site in San Diego. Westport Properties Inc. purchased the property from Otay Properties LLC for $3.17 million.

CBRE’s Ramin Salehi represented the buyer in the transaction.

“By using CBRE’s best-in-class resources and vast local and national network, we were able to help Westport Properties secure one of the last centrally located industrial land lots in the Otay market for development,” said Salehi. “This development will bring a new, Class A, 45,000-square-foot building to the market, which currently has no freestanding building available and has extremely limited industrial availability.”

The property is located at Marconi Drive, east of State Route 905 and southeast of State Route 125, proximate to the Otay Mesa Port of Entry. The port is currently undergoing a $137.2 million modernization and expansion project that will double the processing capability for pedestrians and trucks and bring several other new modern enhancements when finished.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.