In January 2017 Murphy Development Company (“MDC”) purchased a 538,000 square-foot two-building campus at the San Diego Business Park (“SDBP”) in Otay Mesa from Panasonic Corporation of North America. MDC originally master planned and developed the project for Sanyo Corporation in 1986. Sanyo Corporation was acquired by Panasonic in 2010.
The Campus at San Diego Business Park is located at 2001 and 2055 Sanyo Avenue. The buildings are strategically located contiguous to SR 11, and within a mile of SR 905, providing excellent freeway identity and access served by three freeway off-ramps.
MDC completed a $15 million renovation at The Campus in 2017 that includes new landscaping, outdoor amenities, new energy-efficient glass, new lobbies, additional dock-high and grade doors, and solar system upgrades. The completely fenced and secure Campus is C-TPAT (Customs-Trade Partnership Against Terrorism) certified, which expedites international cargo processing.
Panasonic occupies 70% of the 329,000 square-foot 2001 Sanyo Avenue building. MDC completed 42,000 square-feet of new office improvements for them in 2017. 2055 Sanyo Avenue is a 209,000 square-foot building. Included in The Campus is a seven acre fully entitled land parcel which MDC will develop into a 137,000 square-foot freestanding building.
Murphy’s pioneering vision for Otay Mesa as San Diego’s most dynamic industrial growth area commenced with the entitlement, master-planning and development of the 1.3 million square foot SDBP. It was Otay Mesa’s first, Class A corporate industrial park. MDC completed build-to-suits for Fortune 500 companies Sanyo, Casio and American Home Products. Additional buildings were successfully leased on a speculative basis to Maxell America, Hitachi Transport, Electrolux and Nippon Seiko. Sanyo was the first SDBP occupant when their initial building was completed in 1986.