Black Creek Group Acquires Industrial Property In Otay Mesa, San Diego For $109M

Black Creek Group has acquired an industrial property located at 2020 Piper Ranch Rd. in Otay Mesa, San Diego. The property, spanning 601,417 square feet, was sold by Morgan Stanley Services Group for a total transaction amount of $109,000,000. The purchase price per square foot was $181, reflecting the market value of the asset.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $109,000,000
• Square Footage: 601,417
• Address: 2020 Piper Ranch Rd.
• Market: Otay Mesa, San Diego

The deal was facilitated by brokers Jeff Cole, Jeff Chiate, Bryce Aberg, Ed Hernandez, Mike Adey, and Zach Harman from Cushman & Wakefield. Their expertise and representation proved instrumental in closing the transaction between Black Creek Group and Morgan Stanley Services Group.