San Diego Business Journal

Otay Mesa Industrial Buildings Sold for $7.2 Million

By Lou Hirsh Monday, November 3, 2014
7520 Airway Road – Photo courtesy of CoStar Group

7520 Airway Road – Photo courtesy of CoStar Group

Cabot Properties Inc. of Boston has purchased two Otay Mesa industrial buildings for approximately $7.2 million, according to CoStar Group and public data.

The seller of the warehouse distribution buildings, totaling 123,136 square feet at 7510 and 7520 Airway Road, was Chicago-based Heitman LLC. The seller was represented by Jeff Chiate, Jeffrey Cole and Edward Hernandez of Cushman & Wakefield Inc., and Chris Holder of Colliers International.

The buildings were constructed in 1997. The 7510 building was fully occupied at the time of sale, with the 7520 building 56.7 percent leased, CoStar reported.