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| Asset Type: |
Industrial Land |
| Location: |
East Otay Mesa, San Diego County |
| Size: |
162 acres |
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| Property Details: |
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The Otay Business Park encompasses 162 gross acres located in the heart of the future industrial development in East Otay Mesa, San Diego County. The property is adjacent to and north of the US/Mexico International border, approximately two miles east of the current Otay Mesa border crossing, in direct proximity to the SR-125 currently under construction, as well as adjacent to the recently proposed Otay Mesa Port of Entry II and Caltrans SR-11 highway project.
Paragon, in partnership with Shamrock Holdings, acquired the property in December 2005. During the next 3 years, the joint venture is expected to complete the entitlement process and obtain a tentative tract map that will subdivide the property for industrial development.
The planned mixed industrial land uses are intended primarily for accommodating wholesale storage and distribution, research services, and general industrial uses. The site is located in an area poised for mixed industrial and commercial businesses trading products manufactured in Mexico and distributed throughout North America.
Otay Mesa started to be developed as an industrial area in 1985 with the opening of the Otay Mesa Port of Entry. The Otay Mesa port of entry is now the largest commercial crossing in the California/Mexico Border, with more than 1.2 million truck crossings per year. Approximately 2,000 laden trucks and 1,000 empty trucks use the southbound truck route each day in Otay Mesa. According to the U.S. Customs Service, ninety-eight percent (98%) of trades from Mexico to California and points beyond are carried by truck. By 2010, 2.1 million trucks are expected to cross the Otay Mesa POEs. |
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