The Otay Mesa neighborhood of San Diego will soon be getting a new, class-A, three-building industrial development. Sunroad Enterprises and Majestic Realty Company have broken ground on Majestic Sunroad Center, a “project that will support growing businesses and meet current market demand for industrial space,” according to a release from a representative of the developers.
Majestic Sunroad Center is the debut industrial project in San Diego County for the Sunroad Enterprises and Majestic Realty Co. partnership, according to the release. The project is expected to be completed in 2019.
Located on an approximately 16-acre parcel at the southwest corner of Otay Mesa Road and Otay Mesa Center Road, the project will feature 227,000 square feet of industrial space, “first-rate amenities and design features,” the statement says. Each building will be of a unique size, which will help accommodate a range of business sizes.
Also, according to the statement, Majestic Sunroad Center will include leading-edge and function design features such as 30-foot clear height, cross-dock loading, LED lighting, ESFR fire protection, and secured truck courts.
City of San Diego Mayor Kevin L. Faulconer, along with dozens of community and business leaders, attended the groundbreaking. In the statement, Faulconer is quoted as saying during the event, “Industrial projects like Majestic Sunroad Center help fuel our regional economy and create places businesses need to grow and continue creating high-quality jobs for San Diegans. Majestic Sunroad Center will be an opportunity for our innovation, manufacturing, and distribution companies to expand their footprint and bolster the economic competitiveness of the entire San Diego region.”
Sunroad Enterprises has been actively involved in the San Diego market. As SoCal Real Estate recently reported, the firm sold Sunroad Corporate Center, a three-building 302,289-square-foot office property in the University Town Center (UTC) submarket of San Diego, to The Irvine Company, according to a release from a representative of NKF Capital Markets sent to us exclusively. The rep would not reveal the sale price to us, but industry sources unrelated to the deal report that the price was $180 million.