El Cajon Lot with Self-Storage Facility Entitlement Sells for $2.5 million, CAA Announces
EL CAJON, CA (March 16, 2021) — A 1.31-acre lot with a City-approved plan for a self-storage facility sold for $2.5 million on Feb. 1, 2021 in the commercial corridor of El Cajon, Commercial Asset Advisors announced. The property is located at 1338 E. Main Street in El Cajon. The seller and buyer were not disclosed.
CAA identified the property off market as a site with good potential for self-storage, said CAA Principal Mike Conger. The buyer, seller and CAA worked to secure approvals from the City Council and Planning Commission – significantly enhancing the value of the property. As a result, the buyer obtains a property with a shovel-ready site for developing a self-storage facility.
“This site presented an opportunity to maximize the value of this property by having a well-executed entitlement process that took place during escrow,” Conger said. “I’m proud that CAA’s team navigated another successful escrow during the height of the COVID-19 pandemic.”
The lot is 57,000 square feet, and is entitled for a self-storage facility of up to 120,000 square feet.
For additional information, you may contact Mike Conger, CAA Principal (DRE Lic. # 01381193), at firstname.lastname@example.org; Brian Jenkins, CAA Principal (DRE Lic. # 01814828), at email@example.com; or Gino Kalasho (DRE Lic. #02046687) at firstname.lastname@example.org.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.