A 3.34 acre parcel of industrial-zoned land in Otay Mesa has been sold for $5.2 million, a brokerage firm announced.
CBRE’s Ramin Salehi and John Smith represented both the buyer, IDS Real Estate Acquisitions LLC, and the seller, FOTINM LLC.
Salehi, a vice president at CBRE said “we were able to maximize the value of their land in Otay Mesa.”
“With minimal land inventory, the buyer was able to capitalize on this opportunity and will be marketing the space for lease in a extremely tight industrial outdoor storage market,” he said.
The land is located at the northwest corner of Camino Maquiladora and Innovative Drive near the new Prologis storage yards and the Brown Field Airport redevelopment.
