Three light warehouse manufacturing buildings
McDonald Property Group, an industrial development company headquartered in Newport Beach, has formed a development agreement with an entity owned by First Industrial Realty Trust to develop La Pacifica II, a three-building, 237,275-square-foot industrial park.
The $26 million project represents the inaugural development for McDonald Property Group, a company formed by Bruce McDonald in 2013. McDonald was previously co-founder of Master Development Corporation and U.S. managing director for DEXUS Property Group. Bruce McDonald’s previous industrial developments in San Diego County include North County Corporate Center in Vista, a 493,000-square-foot industrial complex that recently sold for $57 million.
The project is located in the master planned Ocean Ranch business park on a 15.8-acre site that represents the last industrial parcel larger than 10 acres in North County. Ocean Ranch is home to Coca Cola, Taylor Made and Genentech, among others. Newly planned facilities for US Foods and FedEx are located nearby.
The project will consist of three light warehouse manufacturing buildings that measure 108,413 square feet, 63,262 square feet and 65,600 square feet. The buildings can accommodate single users or up to 12 tenants in varying sizes with target tenant sizes in the 20,000- to 40,000-square-foot range.