The property, purchased for $10.5 million, features 37,125 square feet of storage buildings, a 7,000 square-foot retail strip building, and a 5,900 square-foot pad for future retail in prime San Diego County location.
(JANUARY 31, 2025 – TORRANCE, CALIF.) – Storm Properties Inc., a leading developer, owner, and manager of residential, industrial, and commercial properties, today announced its acquisition of a self-storage and retail asset in Escondido, California.
The property, purchased for $10.5 million, is located at 510 and 520 W. Valley Parkway and features 37,125 square feet of storage buildings, a 7,000 square-foot retail strip building, and a 5,900 square-foot pad for future retail. The area has emerged as a prime San Diego County location due to its proximity to major freeways and recently built, attainably priced residential communities.
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 percent occupied, while 97 percent 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.”
Storm Properties currently manages a diverse portfolio of multifamily, industrial, and retail properties, and is targeting significant growth through further acquisitions.
Its efforts are focused on core-plus to value-add multifamily and industrial properties in major Western metro markets. Storm is also seeking additional land opportunities for residential entitlement and commercial/industrial development.
Storm Properties Inc. is a subsidiary of Torrance-based Storm Industries Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 90-year history, Storm Industries Inc. has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.
For more information, visit Storm-Properties.com.
