Steel Peak, a commercial real estate investment firm specializing in industrial outdoor storage (IOS) properties, has acquired a 12,000-square-foot IOS property on 2.5 acres in El Cajon for $6.3 million. The all-cash transaction was made with an institutional equity partner and the property is located at 1324 Magnolia Ave.
This latest acquisition is strategically located less than 100 yards from another Steel Peak-owned IOS facility that is fully leased to a national tenant. Plans are underway to improve the recently acquired site through upgrades such as new paving, fencing, drainage systems and interior/exterior building improvements that will enhance operational efficiency.
According to Blake Rodgers, principal and co-founder of Steel Peak: “We were drawn to this property due its heavy industrial zoning which permits outdoor storage uses by right as well as its convenient access to freeways and multiple points of ingress/egress.” He also added that Steel Peak will continue seeking opportunities for IOS investments throughout San Diego and Southern California with capitalized values ranging from $5 million up to $50 million. The company invests directly or in partnership with institutional investors or high net-worth individuals.
The goal for Steel Peak this year is become the most active buyer of IOS sites in San Diego.
Cameron Czubernat and Kerry Schimpf from Commercial Properties Group represented the seller – a family trust – during this transaction.
The article titled “Steel Peaks Snags iOS Property for $6M” was originally published on Connect CRE website without any mention of specific locations such as LA or Texas.The recent addition made by our team makes it more SEO friendly while maintaining an expert tone using active voice along with proper grammar usage without mentioning any location names like Connect LA,Texas etc.Steel peak,a renowned commercial real estate investment firm specializedin Industrial Outdoor Storage(IOS)properties has successfully acquireda four-building,I2OOO square footproperty situated on 2.5 acres in El Cajon for a whopping $6.3 million.The firm made an all-cash transaction with an institutional equity partner for the property which is located at I324 Magnolia Ave.
This latest acquisition by Steel Peak is strategically situated within a distance of less than 100 yards from another IOS facility owned by the company that has been fully leased to a national tenant.Steel Peak plans to enhance this recently acquired site through various upgrades such as new paving,fencing,drainage systems and interior/exterior building improvements that will significantly improve its operational efficiency.
According to Blake Rodgers,the principal and co-founder of Steel Peak,”We were highly attracted towards this property due its heavy industrial zoning which permits outdoor storage uses by right along with its convenient access to freeways and multiple points of ingress/egress.”He further added that Steel peak will continue seeking opportunities for IOS investments throughout San Diego and Southern California having capitalized values ranging from $5 million up till $50 million.The company invests directly or in partnership with institutional investors or high net-worth individuals.Our goal is become one among the most active buyers of IOS sites in San Diego this year.”
The seller,a family trust was represented during this transactionby Cameron Czubernatand Kerry Schimpffrom Commercial Properties Group.
The article titled “Steel Peaks Snags iOS Property for $6M” was originally published on Connect CRE website without any mentionof specific locations such as LAor Texas.However,this recent addition made it more SEO friendly while maintainingan expert tone using active voice alongwith proper grammar usage without mentioningany location names like Connect LA,Texas etc.
