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Pharma Company Leases 105,457 SF Building in San Diego

PCI Pharma Services, a provider of pharmaceutical development services to the global healthcare market, will lease a 105,457 SF building on Brown Field Tech Park I at 7255 Otay Mesa Road in San Diego under a lease brokered by Cushman & Wakefield.

The property is owned by Hines, one of the largest privately held real estate investors and managers in the world. Hines acquired the project this summer with the Cushman & Wakefield team representing the seller in that transaction.

“We are thrilled to add PCI Pharma to Brown Field Tech Park I, a well-maintained Class A industrial project that is well positioned in Otay Mesa with easy access to multiple freeways and airports as well as the U.S./Mexico border points of entry,” says Brant Aberg, Cushman & Wakefield Vice-Chairman, who represented the landlord in the transaction. “Otay Mesa continues to be one of San Diego’s most sought-after industrial submarkets experiencing enormous growth. Strong market fundamentals coupled with the property’s own exceptional attributes allowed us to achieve the highest rental rate all-time that we have tracked for this submarket in this industrial size segment.”  

Brown Field Tech Park I consists of the 105,457-sf building (Building A) now leased to PCI Pharma Services and a 124,223-sf building (Building C) that is also fully leased. Situated on a combined ±13.5 acres, the buildings are strategically located on the SR-905 at the Britannia Blvd diamond interchange with proximity to the I-5/I-805/SR-125 interchange. The buildings feature modern, functionally divisible spaces with a variety of bay sizes, 32’ clear heights, grade/dock-high loading doors, ESFR sprinkler systems, and concrete truck courts.

According to Cushman & Wakefield, the 22-million-square-foot Otay Mesa industrial submarket is a market leader in San Diego, recording over 1 msf of positive net absorption (occupancy growth) year-to-date 2022 and a staggering 6.8 msf of total growth since the start of 2018. Direct vacancy in the submarket was 3.7% in Q3-2022. 

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  • Staff Reporter

    FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

CAMFIL HVAC Filtration Solutions

Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.
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