Cushman & Wakefield Directs Sale of 1,640-Unit Morena Storage in Central San Diego
SAN DIEGO — Cushman & Wakefield has arranged the sale of Morena Storage, a self-storage facility located in central San Diego’s Morena District. Sherman Street Ventures, the original developer of the property, sold the asset to Invesco Real Estate, in partnership with Baranof Holdings, for an undisclosed price. The buyers plan to maintain the property’s name, Morena Storage.
Located adjacent to interstates 5 and 8, the 108,700-square-foot Morena Storage features 1,640 self-storage units. At the time of sale, the property was 90 percent occupied.
Greg Wells of Cushman & Wakefield’s Self Storage Advisory Group, along with Bryce Aberg, Zachary Harman and Brant Aberg of the firm’s Industrial/Capital Markets Group, represented the seller in the deal.