Ares Management Corp. Acquires Industrial Property In San Diego For $57M

The Runway Distribution Center, located at 9063 Airway Road in Otay Mesa, California, was sold for $57 million. The buyer, Ares Management Corp., purchased the industrial property from Lincoln Property Co. and Crow Holdings Capital's real estate fund. The facility spans 199,997 square feet and has clear heights ranging from 32 to 36 feet. It also features 53 dock positions and 16 parking spots for tractor trailers.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $57,000,000
• Address: 9063 Airway Road
• Market: San Diego
• Square Footage: 199,997
• Price per Square Foot: $285

Ares Management Corp., represented by Michael Arougheti, made the acquisition of the Runway Distribution Center. The property was sold by Clay Duvall of Lincoln Property Co. and Michael Levy of Crow Holdings Capital. JLL Capital Markets facilitated the transaction. The industrial facility is situated approximately 22 miles south of San Diego and boasts impressive features to accommodate various distribution needs.