Colliers San Diego’s Industrial Team secures four tenants for nearly completed, new industrial business park in Otay Mesa
SAN DIEGO – April 7, 2021 – Colliers San Diego Region announces that Majestic Sunroad Center in San Diego’s Otay Mesa neighborhood has reached full occupancy following the recent consummation of four lease transactions prior to the completion of construction.
“We are excited to welcome four great companies to Majestic Sunroad Center,” said Tom Simmons, Vice President at Majestic Realty Co. “Working closely with Colliers’ San Diego industrial team, we were able to quickly attract these high-quality tenants to occupy our highly sought after, Class-A industrial spaces that deliver leading edge function and design features.”
Majestic Sunroad Center is a three-building, 227,268-square-foot industrial business park developed Majestic Realty Co. and Sunroad Enterprises. Located at 8175, 8140 and 8115 St. Andrews Ave., San Diego, CA, final construction and tenant improvements will be completed next month with the last tenant moving into its new space in June. The four new tenants are Vidal Import Export, Inc. (31,360 SF), R.L. Jones-San Diego, Inc. (41,600 SF), Watkins Manufacturing Corporation (77,154 SF) and Republic Moving and Storage (77,154 SF).
Mark Lewkowitz, Chris Holder and Will Holder of Colliers San Diego represented the lessor, Majestic Realty Co. and all four of the lessees.
“Majestic Realty Co. and Sunroad Enterprises delivered high quality, brand new industrial space that generated significant interest from a variety of users,” said Lewkowitz. “Our team was able to secure a solid and complete tenant roster at Majestic Sunroad Center prior to the completion of construction.”
With preleases and strong tenant demand, Majestic Realty Co. and Sunroad Enterprises broke ground on their Landmark at Otay development in January. Landmark at Otay is a 50-acre, master-planned industrial park at the intersection of SR-905 and SR-125, that will encompass 845,830 square feet of Class-A warehouse and distribution space spread across four divisible buildings. The spec construction buildings, ranging in size from 153,630 to 240,975 square feet, are scheduled for completion in late 2021 and will deliver highly sought-after warehouse and distribution buildings with adaptability to accommodate and provide solutions for a wide range of users, according to the development team. Colliers’ industrial team of Lewkowitz, Holder and Holder are handling leasing of Landmark at Otay with pre-leasing opportunities available now.
About Colliers International Group
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
About Majestic Realty Co.
Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States. With approximately 87-million-square-feet in its portfolio, Majestic provides real estate solutions for tenants large and small, creating jobs, tax revenue and community benefits across the country. Headquartered in southern California, Majestic has regional offices in Atlanta; Bethlehem, PA; Dallas, Fort Worth and Laredo, Texas; Denver/Aurora, CO; Las Vegas; Phoenix; and Portland, OR.
About Sunroad Enterprises
Sunroad Enterprises is a diversified and experienced holding company. Founded in 1977 in San Diego, Sunroad consists of two distinct divisions: Real Estate and Automotive. The company has built over 3,000,000 square feet of Class A office space, in addition to the 600 slip Sunroad Resort Marina, nearly 4,000 multifamily units owned or under construction, and Maderas Golf Club, recently ranked by Golf Digest as a top 100 Golf Course. Sunroad also owns Island Prime, C- Level, and Coasterra restaurants on Harbor Island. Sunroad Enterprises has been involved in projects in California, Colorado, Nevada, Arizona, Washington, and Mexico, and has earned numerous quality commendations from local, regional, and national organizations. On the auto side, Sunroad currently owns and manages 17 car dealerships in Mexico and the US.
Majestic Realty Co. Colliers San Diego
Marty Schechter Kenneth Moore