**Steel Peak Sells Fully Leased IOS Property in El Cajon for $7.4 Million**
Steel Peak, a commercial real estate investment firm specializing in industrial outdoor storage (IOS) properties, has sold a 16,634-square-foot IOS facility located on 1.53 acres at 1360 N. Magnolia Avenue in El Cajon. The property was acquired by a private investor for $7.4 million. Steel Peak had originally purchased the asset in April 2023 for $5.4 million.
The company secured a long-term lease for the entire site with Sunstate Equipment Rentals, one of the nation’s largest and most financially secure equipment rental companies. The location in El Cajon is considered a strategic hub within the San Diego market for Sunstate’s regional operations.
“This sale highlights the sustained strength of the industrial outdoor storage sector in San Diego, especially in East County, where IOS assets remain extremely scarce, with most suitable sites already occupied and very few trading hands,” noted Blake Rodgers, co-founder of Steel Peak.
Kurtis Blanchard, Thomas Ladt, and Evan McDonald of Colliers represented Steel Peak in the transaction, while Jacob Castro and Chris Nelson of Matthews represented the buyer.
