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Invesco, Baranof JV Buys San Diego Self-Storage Facility
Invesco Real Estate, in partnership with Baranof Holdings, acquired Morena Storage in central San Diego. Situated in the core, Morena District, Morena Storage totals 108,700 rentable square feet and 1,640 units and was roughly 90% occupied at the time of sale.
Cushman & Wakefield’s Greg Wells, Bryce Aberg, Brant Aberg and Zachary Harman handled the transaction on behalf of the seller, Sherman Street Ventures, the original developer of the property.
Wells says, “The opportunity to acquire a stabilized, immaculately maintained self-storage asset in such a dynamic, core part of San Diego is extremely rare.”
The buyers plan to maintain the brand name Morena Storage. The store is located adjacent the intersection of Interstates 5 and 8 and is visible to over 300,000 cars per day.
Invesco Real Estate’s Steve Cobbs added, “Morena Storage is a core, stabilized facility in an irreplaceable location. It makes an excellent addition to Invesco’s growing self-storage portfolio.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


