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7/23/20
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Global real estate investment manager Invesco Real Estate, in partnership with Baranof Holdings, has acquired Morena Storage, a 1,640-unit self-storage facility in central San Diego. The 108.7k sf asset, located at 908 Sherman St, was 90% occupied at time of sale.
The property is located adjacent to the intersection of Interstates 5 and 8 and is visible to over 300,000 cars per day. The new ownership plans to maintain the brand name Morena Storage.
Greg Wells, Bryce Aberg, Brant Aberg and Zachary Harman with Cushman & Wakefield handled the transaction on behalf of the seller, Sherman Street Ventures, the original developer of the property.
“Morena Storage is a core, stabilized facility in an irreplaceable location,” said Invesco’s Steve Cobbs. “It makes an excellent addition to Invesco’s growing self storage portfolio.”
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