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

Member of the National Association 

of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry: 

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

 

www.steelpeakproperties.com.

JLL Hotels & Hospitality group arranges $620 million acquisition financing for Hyatt Regency Orlando, a 1,641-key convention center resort near Orlando’s top tourist attractions

 

Hyatt Regency Orlando,  a 1,641-key, AAA
 Four Diamond resort in Orlando, FL

 ORLANDO, FL, Aug. 19, 2024 – JLL Hotels & Hospitality group announced today that it secured $620 million in acquisition financing for Hyatt Regency Orlando, a 1,641-key, AAA Four Diamond resort in Orlando, Florida.

 

JLL represented affiliates of RIDA Development Corporation and an Ares Management Real Estate fund to secure the floating-rate, five-year loan through Wells Fargo, Bank of America and Deutsche Bank on behalf of borrowers.

Kevin Davis, 

The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mike Huth and Senior Director Barnett Wu.

 

“We are pleased to have worked together with RIDA, Ares, and Hyatt in this transaction,” said Davis. “We enjoyed working with the sponsors in their strategic vision for the future of the Orlando convention district and look forward to continuing to work with all the stakeholders in the future.”

 

This premier resort offers spacious guest rooms averaging 453 square feet and suites averaging 846 square feet. The accommodations feature marble-accented bathrooms, sleeper sofas, mini-fridges and 65-inch streaming TVs.

 Mike Huth

Guests can also enjoy in a variety of amenities, including six dining options, a 24-hour fitness center, tennis courts, a spa and an outdoor pool.

 

Furthermore, the hotel features 315,000 square feet of meeting and event space along with its three direct connections to the Orange County Convention Center (“OCCC”), the second largest convention center in the United States.

 

                                                 Barnett Wu.

 

Located at 9801 International Drive, the property also provides exceptional proximity to top Orlando demand generators, such as Walt Disney World and Universal Studios. Both attractions are conveniently less than a 15-minute drive away.

 

Additionally, Universal Orlando is constructing Epic Universe, its largest theme park in the United States spanning 750 acres, situated just minutes from the hotel. Epic Universe is set to open in 2025.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com