Steel Peak, a commercial real estate firm specializing in industrial outdoor storage properties, has acquired a 12,000-square-foot property located at 1324 Magnolia Avenue in El Cajon. The property, which sits on approximately 2.5 acres, was purchased for $6.3 million in cash with the participation of an institutional partner. The acquisition aligns with Steel Peak's strategy to improve operational efficiency through upgrades and supports their goal of becoming a top buyer of similar sites valued between $5 million and $50 million in San Diego and Southern California.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $6,300,000
• Address: 1324 Magnolia Avenue
• Market: El Cajon
• Acres: 2.5

The acquisition of the property was represented by Cameron Czubernat and Kerry Schimpf from Commercial Properties Group, acting as brokers for Blake Rodgers of Steel Peak. Together, they facilitated the purchase of the property, aiming to enhance its operational capabilities and unlock further value in the industrial real estate market. With this acquisition, Steel Peak expands its portfolio and strengthens its position in the San Diego and Southern California region.