SAN DIEGO, Calif. – February 15, 2023 – Cushman & Wakefield announced the firm has represented R.L. Jones Customhouse Brokers, an innovative logistical services provider, in leasing a brand new 240,975-square-foot (sf) Class A industrial building in San Diego’s Otay Mesa submarket. The company is significantly expanding its headquarters operations into a total of nearly 395,000 sf across two adjacent Class-A industrial buildings in a new development known as Landmark at Otay.
Expected to be shell complete in May 2023, R.L. Jones’ new 240,975-sf building is located at 1610 Landmark Rd. The company currently occupies 153,000 sf of space in the neighboring building at 1701 Landmark Rd in the park, a lease executed in 2021. Landmark at Otay is located at the intersection of SR-905 and SR-125 and is owned and developed by Majestic Realty Co. and Sunroad Enterprises.
Senior Director Regan Tully of Cushman & Wakefield represented the tenant in each of the lease transactions. Additionally, in February 2021, Mr. Tully also represented R.L. Jones in a lease for 41,000 sf of space the company occupies in the nearby Majestic Sunroad Center development. Located just down the street at 8115 Andrews Ave, the property is also owned by Majestic Realty Co. and Sunroad Enterprises.
According to Cushman & Wakefield, R.L. Jones’ recent 240,975-sf lease is among the largest industrial leases in Otay Mesa in the past decade, as well as in all San Diego County over the past five years.
“With near-shoring, the boom in e-commerce, and organic growth amongst our clients, we are very excited that this expansion will allow us to grow with our industry while continuing to provide quality services to our clients,” said R.L. Jones Vice President Eduardo Acosta.
Regan Tully said, “It is very rewarding to have represented R.L. Jones in these three transactions which reflect the company’s ongoing significant real estate expansion to accommodate its business growth and need for space in the San Diego area.”
“Otay Mesa is a thriving location and leading industrial submarket in San Diego, with approximately 1.6 MSF of positive annual occupancy growth in 2022 and a phenomenal 7.3 MSF of growth since the start of 2018, according to Cushman & Wakefield’s Q4-2022 market report,” added Tully.
