Walls Lifting on Phase 1 of San Diego’s Largest Industrial Project in Development

612,240 Square Feet of Distribution, Logistics Space Coming Available at Otay Business Park Mid-2026

OTAY MESA, Calif. (Oct. 27, 2025) –Dempsey Construction is lifting walls this week for phase one of Otay Business Park on behalf of developer Elevation Land Company and a real estate fund advised by Crow Holdings Capital. Located in the Otay Mesa logistics hub of San Diego, Otay Business Park is a 119-acre campus of Class A, state-of-the-art industrial distribution and logistics buildings to be completed in two phases.

“Otay Business Park is the largest industrial project in development in San Diego and will be one of California’s largest new Class A distribution sites,” said Elevation Land Company Founder and Principal Brig Black. “Its location at the U.S./Mexican border, adjacent to the Otay Mesa East new commercial freight port now under construction, and within a 20-minute drive from six highways, interstates and state routes, is incredible. Otay Business Park is a game-changer for logistics efficiency.”

The first phase of vertical construction at Otay Business Park includes buildings 1, 2, 3A and 3B. They comprise 612,240 square feet of what will eventually be a 1.8 million-square-foot speculative development. This development is best positioned to provide job growth to the region and is strategically designed to support companies engaged in e-commerce, 3PL operators, storage/warehouse occupiers and continually growing manufacturing demand.

“The start of vertical construction at Otay Business Park marks an exciting milestone for San Diego’s industrial future,” said Dempsey Construction President Bryce Raleigh. “At Dempsey Construction, we’re proud to partner with Elevation Land Company and Crow Holdings Capital to bring this world-class logistics campus to life. Projects like this not only strengthen our region’s infrastructure and economy but also reflect the shared commitment to building spaces that move commerce, create opportunity and fuel growth for decades to come.”

All phase one buildings offer 32-foot clear height and are available for purchase or lease. Each building is divisible to accommodate varying tenant size requirements.

• Building 1: 203,200 square feet, 197 parking stalls, 50 trailer stalls, 36 loading docks, two grade-level doors
• Building 2: 233,880 square feet, 220 parking stalls, 52 trailer stalls, 37 loading docks, two grade-level doors
• Building 3A: 95,400 square feet, 104 parking stalls, 22 loading docks, two grade-level doors
• Building 3B: 79,760 square feet, 87 parking stalls, 20 loading docks, two grade-level doors

Otay Business Park spans the now complete Siempre Viva Road connection to SR-11, which is the last exit on SR-11 before entering the Otay East U.S./Mexico Port of Entry commercial border crossing.

The first phase of the SR-11/Otay Mesa East Port of Entry is slated to open in late 2027. ELC, the team at CHC and Dempsey anticipate finishing construction on phase one of Otay Business Park in the second quarter of 2026.

Earlier this month, the joint venture of ELC and a real estate fund advised by Crow Holdings Capital secured a $102.4 million construction loan from New York Life Insurance Company to support the phase one speculative development. JLL Capital Markets arranged the financing.

Otay Business Park is designed by Ware Malcomb. Brant Aberg, and Ryan Downing of Cushman & Wakefield are marketing the property.

About Elevation Land Company

Elevation Land Company is a commercial real estate investment and operating venture focused on opportunistic acquisitions of R&D, industrial, life science and land assets in California and high-growth markets in Rocky Mountain States. We look for investment opportunities in high-barrier-to-entry locations and submarkets that have long-term job formation characteristics, population growth and strategic industry clusters.  www.elevation-land.com

About Crow Holdings

Crow Holdings Capital (CHC) is a real estate investment management company specializing in multifamily, industrial, and specialty property types delivered through strategies that span the risk-return spectrum. Since 1998, CHC has created a diversified portfolio in partnership with leading global investors, generating attractive returns across multiple market cycles. Led by a highly experienced leadership team, CHC manages $20 billion in real estate assets and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with over 75 years of history, $34 billion of assets under management, and a legacy rooted partnership, collaboration, and alignment of interests. For more information, please visit www.crowholdings.com.

About Dempsey Construction

Dempsey Construction is a San Diego-based general contractor licensed across the Western U.S. Since 2010, the firm has delivered exceptional commercial projects by combining large-firm expertise with boutique-level service, guided by its Estimate-Based Approach™ and Return on Experience (ROE). www.dempseyconstruction.com