VIP Self Storage at 1636 N. Magnolia Ave. in El Cajon, Calif., recently sold for $1.8 million, representing an 8.03 percent cap rate. Completed in 1983, the two-story facility has 363 units in approximately 24,077 square feet.
William Anderson, senior vice president and principal of ACRE Investment Real Estate Services, represented the buyer, Catherine Burdick, and the seller, Bernard Martin, trustee of the Bernard J. Martin Trust. Escrow services were provided by Kathy Robinson and Annemarie Lo Coco of Chicago Title's Park Camino branch. Cameron Aldrich, also of Chicago Title, acted as the title agent.