Escondido Self Storage Sells for $18M

Laguna Beach, CA-based Self Storage Investment Services, Inc. recently completed the sale of a newly-constructed self storage property located at 852 Metcalf St., Escondido, CA. The transfer of ownership followed a final Certificate of Occupancy for operations to commence.

The 150,000 square foot building was acquired by SST IV Acquisitions LLC in Ladera Ranch, with market reports pegging the sale at $18 million. The seller was Escondido-Metcalf LLC in Costa Mesa.

Self Storage Investment Services’ Principal Stephen Grossman was the sole broker in the transaction.

The newly-constructed building sits on a little more than an acre of land, and has 97,500 rentable square feet of storage space in 1,162 self storage units. The building is located at the juncture of I-15 and CA 78, and visible from both freeways.

Grossman told Connect Media he also recently completed the sale of a pending self storage development site in Los Angeles.

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