A partnership between Kearny and Morgan Stanley Real
Estate Fund acquired the 42-acre, 708,000 sf campus
from Nissan North America in October 2006.
Kearny South Bay Business Park is comprised of 13
buildings formerly occupied by Nissan as its North
American headquarters. The individual buildings vary
from low & mid-rise office buildings to industrial
and R&D ranging in size from 14,000 to 184,000 sf.
The project is at the junction of the San Diego
(405) and Harbor (110) freeways which offers
unparalleled visibility from both freeways and
is strategically located between the Ports of Los
Angeles & Long Beach and LAX.
After acquiring the complex, Kearny embarked on a
multimillion dollar capital improvement plan to
upgrade the individual buildings prior to returning
them to market for sale. Kearny was involved in
substantial challenges with both the City of Los
Angeles and Carson to convert the single-user campus
to 13 stand alone buildings. Tasks included numerous
lot line adjustments, utilities separation,
significant ADA and cosmetic improvements, asbestos
abatement, demolition of elevated pedestrian bridges,
creation of expanded parking, quit claim of parking
covenants and processing of condominium maps.
Kearny’s strategy to position the individual
buildings for sale to small and midsize
businesses proved to be a win-win. The
sales of the individual buildings helped minimize
the impact from the 2,000 jobs that were lost when
Nissan moved.
Now complete, Kearny South Bay Business Park employs
more people than when Nissan occupied the property.
Due to demand and the significant improvements made
to the campus by the Kearny team, the campus was
quickly backfilled by vibrant, successful
entrepreneurial firms in diversified sectors
including finance, health services, high-tech
manufacturing, fashion, automotive, and food
processing which helped to re-energize the entire
area. Of the 13 buildings, 7 were sold in 2007, 5 in
2008 and the last office building closed in December
2009. Kearny is proud and excited to play its role
in this transformation.
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