Skip to main content Skip to footer

Phase I of Landmark at Otay’s 50-Acre Industrial Park Now Fully Leased

Download Report
landmarkotayhero

Colliers secures the second lease of a four-building project totaling 845,830 SF

San Diego, Calif., March 2022 – Colliers today announced the lease transaction of 1601 Landmark Road, the second building in Majestic Realty Co. and Sunroad Enterprises’ highly anticipated Landmark at Otay industrial park. Representing the sellers, Majestic Realty Co. and Sunroad Enterprises, Colliers’ senior vice presidents Chris Holder and Mark Lewkowitz, with associate Will Holder, brokered the lease of the 216,140 square-foot building, reaching a final consideration of approximately $13,000,000. The 1601 building, leased amidst construction, will occupy four private tenants.

Late last year, the Colliers team secured the park’s first tenants (at the 153,000 square-foot 1701 building), marking Phase I of the development now fully leased. Phase II, comprised of two additional buildings totaling ±500,000 square feet, is on track for completion later this year. In its entirety, the Landmark at Otay industrial park spans across 50 acres, and its four free-standing buildings reach a combined 845,830 square feet.

Industrial property is scarce in central San Diego, and with demand at its highest and climbing, development in areas such as Otay has accelerated. Since 2021, Otay’s rents have grown approximately 7.6 percent, and more than 1.7 million square feet of speculative projects have broken ground in the area over the last year.

Media Contact:

Leanne Daly
PR & Communications Specialist | Southwest
Leanne.Daly@colliers.com
760-930-7941

Bryan Welch
PR & Communications Manager | Southwest
Bryan.Welch@colliers.com
801-453-6819

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn


landmarkotaythumbnail

Phase I of Landmark at Otay’s 50-Acre Industrial Park Now Fully Leased

Download Report
Related Experts

Mark Lewkowitz

Executive Vice President

San Diego

Mark Lewkowitz is a 15+ year veteran in the commercial real estate business in San Diego and has been a part of the significant growth and development in the Industrial San Diego market over that period of time. Mark specializes in the Leasing, Sales and development of warehouse, manufacturing, and distribution facilities. His years of experience in dealing with strategic planning, financial analysis, and 1031 exchanges have resulted in a very loyal client list.

Mark is consistently ranked as a top producer both within the San Diego Region and the West Coast. Mark has also been awarded within the Colliers’ Everest Club, which recognizes the top 10% of all Colliers professionals in brokerage, valuation and corporate solutions across the U.S. business based on revenue production. Mark is most known for his ethics, hard work, dedication and always exceeding his client’s expectations. He keeps abreast and current of the ever-changing industrial and office markets. He has been responsible for negotiating a wide range of transactions, including leases, subleases, purchases and sales.

Mark is an active member of SIOR and NAIOP. His civic affiliations include the National City Boys and Girls Club and Big Brothers Big Sisters of San Diego County.

Mark earned a bachelor’s degree in Economics from University of California, San Diego. While he attended UCSD he was a member of the Men’s Basketball Team. Mark still enjoys playing in competitive basketball leagues, with his athletic prowess on a serious decline.

View expert

Chris Holder

Executive Vice President

San Diego

25 year veteran of the commercial real estate industry

1997-2008 - Vice President, John Burnham Real Estate
2008-2014 - Director, Industrial Properties, Cushman and Wakefield
2014 - Present, Sr. Vice President, Colliers International

View expert

Will Holder

Associate Vice President

San Diego

After graduating from San Diego State University with a degree in Cultural Anthropology, I worked in the photography field for a few years (still an avid photographer)  before deciding to join the Commercial Real Estate industry.  I specialize in the industrial market (5,000 sqft. and greater) in the South Bay (National City, Chula Vista, Otay Mesa) submarkets. Backed by a team who has extensive experience in all areas south of the I-8 (Mark Lewkowitz and Chris Holder,) I'm prepared to assist with any commercial real estate needs in the Central San Diego down to Otay Mesa/San Ysidro submarkets. 

View expert