A 12,000 square foot industrial outdoor storage property, situated on 2.5 acres at 1324–1336 North Magnolia Avenue in El Cajon, has been sold for $9,500,000. The asset, characterized by its location and utility, was acquired by Steel Peak in February 2024 for $6.3 million before undergoing a full value-add redevelopment.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $9,500,000
• Address: 1324–1336 North Magnolia Avenue
• Market: El Cajon
• Seller: Blake Rodgers & Pasha Johnson - Steel Peak
• Buyer's Representative: Aidan James - Inland Pacific
• Seller's Representatives: Cameron Czubernat & Kerry Schimpf - Commercial Properties Group
• Acres: 2.5
• Square Footage: 12,000
• Price Per Square Foot: $792

The transaction highlights strong demand from owner-users for well-located, high-utility industrial outdoor storage sites, reflecting the limited supply within Southern California. C&M Manufacturing is the reported buyer of the property, emphasizing the ongoing interest in such assets.