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2/03/25
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Storm Properties Inc paid $10.5 mil for a self-storage/retail property in Escondido. The property, located at 510 and 520 W. Valley Pkwy, in what is considered a prime San Diego County location due to its proximity to major freeways and recently built, attainably priced residential communities.
The asset consists of 37.1k sf of storage buildings, a 7k sf retail strip building, and a 5.9k sf pad for future retail. The self-storage facility is comprised of 262 storage units, while the retail consists of four in-line suites and a single-tenant retail building.
One of the retail suites serves as the on-site management for the self-storage facility. The retail is 100% occupied, while 97% of the self-storage units are currently rented.
“This asset was attractive to us for a number of reasons, especially its location in a market primed for growth,” said Jay Ahluwalia, president of Storm Properties. “Storm is actively seeking to expand our presence here and looks to acquire several additional assets in the metro area in 2025.”
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