LaSalle Investment Management has purchased a 601K multi-tenant warehouse in San Diego's Otay Mesa submarket, not far from the US border with Mexico.
The Class A facility, located at 2020 Piper Ranch Road, was sold by Ares Management Real Estate Fund in a transaction brokered by Cushman & Wakefield.
The sales price was not disclosed; Ares bought the warehouse for $109M in 2020. The Piper Ranch warehouse features concrete tilt-up construction with a wide range of bay configurations and 32-foot clearances.
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