Westport Properties, a premier owner/operator of industrial, self storage and multifamily assets nationally, has announced plans to develop 2 class-A, 32' clear-height, single tenant industrial buildings in San Diego County located in the Otay Mesa and Oceanside/Carlsbad sub-markets. The company currently has 5 developments encompassing approximately 450K square feet in the planning approval process.
Westport Properties is starting development in the third quarter of 2022 of a 50,000-square-foot industrial warehouse building located on three acres on Vista Pacific Drive in Oceanside, California. The building will feature 32-foot clear height, ESFR sprinklers and solar panels. Completion of this building is scheduled for the second quarter of 2023. Bob Willingham of Kidder Mathews will oversee leasing of the single tenant building.
In the fourth quarter of 2022, Westport Properties will begin development of a 46,000-square-foot industrial warehouse building located on 2.5 acres on Marconi Drive in Otay Mesa, California. This building will also feature 32-foot clear height, ESFR sprinklers and solar panels. Completion of this building is scheduled for the third quarter of 2023. Ramin Salehi of CBRE leasing of the single tenant building.
"We are very excited to announce the latest round of industrial development projects as both parcels are located in highly desirable submarkets with great fundamentals," said Charles Byerly, CEO of Westport Properties. "Westport Properties is primarily focused on infill locations in the Western United States where we can provide state-of-the-art industrial buildings for users and owners. This year will mark the busiest year in our Industrial vertical to date."
About Westport Properties Founded in 1985, Westport Properties ("WPI") is an owner-operator of self storage, multifamily and industrial properties across the United States. The Company is a fully integrated operator that develops, acquires and manages its portfolio as well as providing third-party management services. As of January 2022, WPI has approximately 12 million square feet of self storage space under management and its total assets under management is approaching $2.5 billion with its US Storage Centers brand as well as over 750 multifamily units in two states while employing over 600 people nationwide. WPI is a founding partner of the 501(c)3 Kure-It, a non-profit organization that raises money for underfunded cancer research, and Charity Storage, a 501(c)3 that uses vacant storage units to raise money for local charities. To date, Kure-It has raised over $12M and Charity Storage has raised over $500K.