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9/22/21
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Global real estate manager Invesco Real Estate, in partnership with Baranof Holdings, has purchased Solana Beach Storage, an 895-unit self-storage property in coastal San Diego County. The project is located in the high-end coastal community of Solana Beach and serves the surrounding areas of Del Mar, Rancho Santa Fe, Encinitas and Fairbanks Ranch.
Solana Beach Storage totals 83k sf and was approximately 92% occupied at the time of sale. Solana Beach Storage was one of the first self storage projects to be developed in San Diego County and was still owned by the original developer.
Greg Wells, Luke Elliott & Mike Mele with Cushman & Wakefield’s Self Storage Advisory Group handled the transaction on behalf of the seller, Solana Beach Storage L.P.
“Solana Beach Storage represented an unmatched opportunity in the market today,” said Wells. "The combination of an irreplaceable location, very high barrier to entry market and tremendous trade area demographics make this asset a great addition to the buyer’s growing self storage portfolio.”
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