LaSalle Investment Management has invested $158.5m (€137m) to buy an industrial campus in the US.
Global real estate services firm Cushman & Wakefield said it has advised Murphy Development Company in the sale of The Campus, a 665,229sqft asset in the Otay Mesa submarket of San Diego, California.
The industrial campus, situated on nearly 37 acres, consists of three freestanding buildings located at 2001, 2055 and 2065 Sanyo Ave and is 98% leased to eight tenants.
Jeff Chiate, a vice chairman at Cushman & Wakefield, said: “The Campus was a rare market opportunity for an investor to acquire a significant industrial portfolio of high quality, institutional quality assets with a strong tenant profile.
“The project is ideally positioned at a ‘main and main’ location in the Otay Mesa submarket, with excellent proximity to multiple freeways and logistical routes, the US/Mexico border points of entry, and several airports, providing unsurpassed regional, national and international access.”
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