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California  + San Diego  + Industrial  | 

Steel Peak Sells IOS at a Profit Just Months After Acquisition

Steel Peak sold an industrial outdoor storage (IOS) property located at 6975 Camino Maquiladora in San Diego to RojoWood Lumber & Building Supply for $3.8 million. The sale occurs just five months after Steel Peak acquired the property for $2.62 million.

The company has made significant improvements to the property since the acquisition. This was Steel Peak’s first exit from its five-property portfolio of IOS facilities in the San Diego market.

“Selling to an owner-user just months after our acquisition confirms the strong demand for IOS properties in undersupplied markets like San Diego,” said Blake Rodgers, Steel Peak principal. “In just a few short months, we were able to implement our value-add business plan and exit for a strong profit to a company that will be occupying the facility for the long term.”

Rob Hixson and James Hixson of CBRE represented Steel Peak in the sale. Ramin Salehi of CBRE represented the buyer.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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