Steel Peak acquires industrial outdoor storage property in San Diego, CA area for $3.75 million

  

Industrial outdoor storage (IOS) property
located at 2213 Meyers Avenue
in Escondido, CA

 SAN DIEGO, CA, Aug. 19, 2024 —Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, announced today it has acquired an industrial outdoor storage (IOS) property located at 2213 Meyers Avenue in Escondido, California for $3.75 million.  

Pasha Johnson,

The IOS property 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. 

 IOS properties are within a sub-segment of the Industrial asset class that serve the needs of the transportation, logistics, and construction sectors.

Blake Rodgers

“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

Blake Rodgers, Steel Peak Principal and Co-Founder, continued by saying “Steel Peak plans to lease the property very quickly with minimal improvements needed as the property is in great condition.

 "The target tenants are contractors and heavy industrial users that need the zoning that allows for outdoor storage to operate their business.”

Steel Peak will continue to seek IOS investment opportunities throughout the Western U.S. with capitalized values ranging from $5 million to $50 million. The firm invests directly and in partnership with institutional and high net-worth investors. 

Tucker
Hohenstein

Our goal is to is to become the most active buyer of IOS sites in the Western States this year.”

2213 Meyers Avenue is ideally located with immediate access to California State Route 78 and Interstate 15, providing convenient access to neighboring communities.  The property features 18-foot clear height, six oversized ground-level loading doors, abundant power and office space.

              Mike Erwin, Tucker Hohenstein and Hank Jenkins of Colliers San Diego resented the seller, ACT PROPERTY ACQUISITION PARTNERS II LLC as well as Steel Peak in the transaction.

Hank Jenkins

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. 

 

 

CONTACT

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

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of Real Estate Editors (NAREE)

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 I do what I love and love what I do.”

 

www.steelpeakproperties.com.