San Diego, Calif., (August 2, 2024) – Todd Holley, SIOR, Senior Vice President & Partner, in Voit Real Estate Services’ San Diego office successfully directed the $11.4 million sale of a 44,278-square-foot industrial building in Otay Mesa, representing the buyer, Best Fit Movers, based out of San Diego. The seller, a local development company that completed construction of the building during the second quarter of 2024, was represented by CBRE.
Represented by Holley, Best Fit Movers entered into a build-to-suit agreement in 2021 with the development company with the intent of occupying the building. During the construction phase, the value of the property increased substantially, and Holley was tasked to market the property for a third-party sale. Upon building completion, Best Fit Movers found the property and location ideal and decided to finalize the purchase and occupy over half of the office and warehouse space. They have engaged Holley to lease out the balance of the building.
The property is situated on 3 acres of land in Otay Mesa near the US-Mexico border crossing with convenient access to interstates 5 and 805 and state route 125. “This transaction is another indication of the strength of the Otay Mesa market. Demand is still very strong for quality San Diego assets,” stated Holley.
“Todd helped us purchase another wonderful property to support the needs of our continually growing business. Through his extensive local market knowledge, research and negotiation skills, Todd provided amazing service with more than satisfactory results,” stated Patrick Caramalac, owner of Best Fit Movers.
The property is located at 2548 Cactus Road in Otay Mesa.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker-owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its 50-year history, the firm has completed in excess of $62.3 billion in brokerage transactions encompassing more than 56,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enables the firm to provide clients with forward-looking strategies that create value for a wide range of assets and portfolios.