California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Steel Peak Acquires Second San Diego-Area IOS Property
Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, acquired an IOS property located at 2213 Meyers Ave. in Escondido for $3.75 million. It features an 8,000-square-foot industrial building and large secured fenced yard on 1.69 acres.
Earlier this year, the firm acquired a four-building, 12,000-square-foot IOS property located on 2.5 acres in El Cajon for $6.3 million. “This type of property is in high demand, as there is a constant need for a 5,000-15,000-square-foot warehouse building with over one acre of excess paved yard that is zoned for outdoor storage,” said Pasha Johnson, Steel Peak principal and co-founder. “We are seeing extremely low supply of industrial properties with outdoor storage in San Diego County, especially in North County which serves as a strategic location to service the San Diego, Orange County and Inland Empire markets.”
Mike Erwin, Tucker Hohenstein and Hank Jenkins of Colliers San Diego represented the seller, ACT PROPERTY ACQUISITION PARTNERS II LLC, as well as Steel Peak.
- ◦Sale/Acquisition
