**Steel Peak Sells San Diego Industrial Outdoor Storage Property for $3.8 Million**
Steel Peak has sold an industrial outdoor storage (IOS) property located at 6975 Camino Maquiladora in San Diego, California to RojoWood Lumber & Building Supply for $3.8 million. The sale comes just five months after Steel Peak acquired the property for $2.62 million.
Since acquiring the site, the company has implemented substantial improvements, enhancing the value of the property. This transaction marks Steel Peak’s first exit from its five-property IOS portfolio in the San Diego market.
“Selling to an owner-user just months after our acquisition confirms the strong demand for IOS properties in undersupplied markets like San Diego,” said Blake Rodgers, Principal at Steel Peak. “In just a few short months, we were able to implement our value-add business plan and exit for a strong profit to a company that will be occupying the facility for the long term.”
Rob Hixson and James Hixson of CBRE represented Steel Peak in the sale. Ramin Salehi of CBRE represented the buyer.
