Elevation Land Co., Crow Holdings Capital Complete Phase One of Otay Business Park in California
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Diego life sciences vacancy remains the lowest in the major life-science clusters, and multifamily fundamentals continue to be supported by a coastal supply ceiling. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 29th San Diego story tracked on the wire in August 2026. All San Diego coverage →
- Disclosed industrial deal value tracked in August 2026: $6.2B across 39 reported transactions. All Industrial coverage →
Computed from Real Estate Trail’s own tracked coverage
SAN DIEGO — Elevation Land Co. and a real estate fund advised by Crow Holdings Capital have completed Phase One of Otay Mesa Business Park, a two-phase, 119-acre industrial and logistics campus in the Otay Mesa submar…
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