Annapolis, Md. (July 15, 2022) – Realterm announces the acquisition of 8710 Avenida de la Fuente, a well-located and functional industrial outdoor storage asset that is optimal for maintenance, fleet storage and equipment storage type users. Strategically located in the San Diego submarket of Otay Mesa, the facility is 23,634 square feet with eight drive-thru bays and is completely secured via an electric fence on 3.91 acres.
“Otay Mesa is a thriving industrial commerce and trade center making 8710 Avenida de la Fuente a solid addition to the Realterm southern California portfolio,” said Blair Duncan, Associate Vice President, West Coast Acquisitions, Realterm. “Limited supply in Otay Mesa, combined with robust demand and modest new construction, will keep vacancy in the single digits and rents on the rise.”
Situated just north of the U.S./Mexico border, Otay Mesa is San Diego’s largest individual industrial submarket with more than 20 million square feet of space spanning approximately 9,300 acres. It is bounded by the Otay River Valley and the City of Chula Vista to the north, Mexico to the south, Interstate 805 to the west, and unincorporated San Diego County to the east. “The vacancy rate in Otay Mesa is 3.5 percent and this purchase supports our strategy to acquire the industrial outdoor storage facilities in metropolitan areas where market fundamentals are projected to outperform the broader U.S.,” said Stephen Panos, Managing Director – Senior Fund Manager, Realterm. “The property offers high flow through functionality and meets the site’s current use as a fleet maintenance facility. It is also less than two miles from the most active border crossing between the U.S. and Mexico and has final mile access to highly affluent population centers.”
Highlights of 8710 Avenida de la Fuente include:
- Square feet: 23,634
- Land area: 3.91 acres
- Loading positions: 8
- Access: 1-5, 1-805 and Routes 905 and 125
Photo courtesy: Cushman & Wakefield
