California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Storm Properties Acquires Escondido Self-Storage and Retail
Storm Properties Inc., a developer, owner, and manager of residential, industrial, and commercial properties, acquired a self-storage and retail asset in Escondido. The property, purchased for $10.5 million, is located at 510 and 520 W. Valley Pkwy. and features 37,125 square feet of storage buildings, a 7,000-square-foot retail strip building and a 5,900-square-foot pad for future retail.
The self-storage facility includes 262 storage units, while the retail consists of four in-line suites and a single-tenant retail building. One of the retail suites serves as the onsite management for the self-storage facility. The retail is 100% occupied, while 97% of the self-storage units are currently rented.
“This asset was attractive to us for a number of reasons, especially its location in a market primed for growth,” said Jay Ahluwalia, president of Storm Properties. “Storm is actively seeking to expand our presence here and looks to acquire several additional assets in the metro area in 2025.”
- ◦Sale/Acquisition
