{"id":1004214102,"date":"2018-03-27T23:26:31","date_gmt":"2018-03-28T07:26:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004214102"},"modified":"2022-12-08T17:32:13","modified_gmt":"2022-12-09T01:32:13","slug":"murphy-development-trades-san-diego-property-for-27m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/murphy-development-trades-san-diego-property-for-27m\/","title":{"rendered":"Murphy Development Trades $27M San Diego Property"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004214105\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004214105\" data-attachment-id=\"1004214105\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/murphy-development-trades-san-diego-property-for-27m\/building-16-at-siempre-viva-business-park-in-san-diego\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;SCOTTMURPHY&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Building 16 at Siempre Viva Business Park in San Diego\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Building 16 at Siempre Viva Business Park in San Diego&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg?w=800\" class=\"wp-image-1004214105 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg\" alt=\"Building 16 at Siempre Viva Business Park\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/Building-16-at-Siempre-Viva-Business-Park-in-San-Diego.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004214105\" class=\"wp-caption-text\">Building 16 at Siempre Viva Business Park<\/p><\/div>\n<p>Murphy Development Co. has sold an industrial asset in San Diego\u2019s Otay Mesa district for $26.5 million. The buyer, Ajinomoto Foods North America, is a frozen foods producer. The sale price marks the highest price per square foot of any <a href=\"https:\/\/www.commercialsearch.com\/news\/san-diego-industrial-asset-trades-for-19m\/\">industrial building in Otay Mesa<\/a> to date, according to Murphy Development.<\/p>\n<p>Located at 8411 Siempre Viva Road, the 165,763-square-foot structure sits a mile and a half from the U.S.-Mexico border\u2019s Otay Mesa port of entry. A heavily industrial area, Otay Mesa is home to a number of major tenants including FedEx, Bose and Imperial Toy.<\/p>\n<h2>Committed investor<\/h2>\n<p>The buyer simultaneously acquired both Circle Foods from Tyson and Building 16 from MDC. The property was initially developed specifically for Circle Foods, though Tyson Foods took over their lease in 2013. Once Tyson vacates the property in April this year, Ajinomoto will renovate the building to facilitate the company\u2019s food processing operations.<\/p>\n<p>Having recently completed the 121,790-square-foot Building 18, Murphy Development intends to begin one more industrial project at Siempre Viva Business Park, with the 79,050-square-foot Building 17 currently in planning stages.\u00a0The development team for all three SVBP buildings includes architect Gene Cipparone, K&amp;S Engineering and Lusardi Construction Co.<\/p>\n<p><em>Image courtesy of Murphy Development Co.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial asset, which contains more than 165,000 square feet, sits within a mile and a half of the U.S.-Mexico border.<\/p>\n","protected":false},"author":861,"featured_media":1004214105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1608,15],"tags":[36351,39543,39540,38030,35270,38379],"class_list":["post-1004214102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-san-diego","category-west","tag-capital-improvement","tag-gene-cipparone","tag-ks-engineering","tag-lusardi-construction","tag-murphy-development-group-llc","tag-tyson-foods-incorporated"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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