Rockpoint Sells Final Otay Mesa Industrial Property to Badiee Development

Author

Slice of Real Estate Team
October 16, 2024

Key Highlights:

  • Rockpoint sells 243,000 sq. ft. industrial property in Otay Mesa to Badiee Development.

  • The property is strategically located near the U.S.-Mexico border and San Diego's Foreign Trade Zone.

  • Third and final property developed jointly by Rockpoint and Badiee.

  • Best-in-class features include 32-foot clear heights, flexible tenant configurations, and prime location.

Source: PR Newswire

Notable Quotes:

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"This transaction highlights our focus on investing in and developing trophy industrial assets in markets and regions that have favorable long-term supply/demand dynamics."

Aric Shalev, Co-President and Managing Member at Rockpoint
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"Together, we met our goals of creating high-quality industrial spaces that meet the needs of the Otay Mesa submarket of San Diego, and in North Las Vegas."

Ben Badiee, President and CEO at Badiee Development

Our Take:

The sale of the Otay Mesa industrial property to Badiee Development marks the successful conclusion of a strategic partnership between Rockpoint and Badiee, demonstrating their ability to develop high-quality industrial assets in key trade corridors. The property's proximity to the U.S.-Mexico border and inclusion in San Diego's Foreign Trade Zone offer significant cost-saving opportunities for future tenants, positioning it for continued demand. This transaction also underscores Rockpoint's consistent investment approach, focusing on markets with favorable long-term dynamics and delivering assets that are well-positioned for strong future performance.