STEEL PEAK ACQUIRES INDUSTRIAL OUTDOOR STORAGE PROPERTY IN SAN DIEGO, CA AREA FOR $6.3 MILLION IN ALL-CASH TRANSACTION

 

Blake Rodgers

SAN DIEGO, CA—Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, has acquired a four building, 12,000-square-foot IOS property located on 2.5 acres in El Cajon for $6.3 million.  Located at 1324 Magnolia Avenue, the firm paid all cash with an institutional equity partner for the property.

 Cameron Czubernat and Kerry Schimpf with Commercial Properties Group represented the seller, a family trust.

Kerry Schimpf 

This newest acquisition is less than 100 yards from another Steel Peak owned IOS facility that is 100 percent leased to a national tenant. Steel Peak plans to improve this recently acquired site with new paving, fencing, drainage, as well interior and exterior building improvements that will enhance the operational efficiency of the site.

 

“We were attracted to the property because of its heavy industrial zoning that has outdoor storage uses permitted by right, along with its close proximity to freeways and multiple points of ingress/egress,” said
Blake Rodgers, Steel Peak Principal and Co-Founder.

Cameron Czubernat 

“Steel Peak will continue to seek IOS investment opportunities throughout San Diego and Southern California with capitalized values ranging from $5 million to $50 million. The firm invests directly and in partnership with institutional investors and high net-worth investors. Our goal is to is to become the most active buyer of IOS sites in San Diego this year.”

IOS properties are within a sub-segment of the Industrial asset class that serve the needs of the transportation, logistics, and construction sectors. IOS sites are categorized as having less than 25% building coverage and are zoned for industrial uses that allow the outdoor storage of vehicles, products, construction equipment and materials, or containers.

SOLD: for $6.3 million,  a Four building,
12,000-square-foot IOS property
located at 1324 Magnolia Avenue
 on 2.5 acres in El Cajon, CA
 .   , 

About Steel Peak

Steel Peak is a Southern California based real estate investment firm that specializes in unlocking value in industrial outdoor storage (IOS) properties. Steel Peak’s relationship driven investment strategy focuses on sourcing hidden opportunities that translate to outsized returns.

 

Steel Peak invests directly as well as in partnership with institutional and high net-worth investors. For more information, please visit 

 

 

CONTACT: 

 

 David Ebeling

 Ebeling Communications

 (949) 278-7851

  david@ebelingcomm.com

www.steelpeakproperties.com