Steel Peak, a commercial real estate investment firm specializing in industrial outdoor storage (IOS) properties, has recently purchased an IOS property located at 2213 Meyers Ave. in Escondido for $3.75 million. The property boasts an 8,000-square-foot industrial building and a large fenced yard spanning over 1.69 acres.
This acquisition follows the firm’s earlier purchase this year of a four-building IOS property on 2.5 acres in El Cajon for $6.3 million.
According to Pasha Johnson, principal and co-founder of Steel Peak, there is high demand for properties like these that offer both warehouse space (ranging from 5,000-15,000 square feet) and over one acre of paved yard designated for outdoor storage use within San Diego County.
Johnson also notes that there is currently limited supply of such industrial properties with outdoor storage capabilities in the North County area – which strategically serves the San Diego region as well as Orange County and Inland Empire markets.
Colliers San Diego represented both seller ACT PROPERTY ACQUISITION PARTNERS II LLC and Steel Peak during this transaction; their team included Mike Erwin,Tucker Hohenstein,and Hank Jenkins.
