Caster Properties Inc., the operating company of California self-storage provider A-1 Self Storage, has purchased seven land parcels in San Diego through A1PB L.P., a partnership between Caster and the The Focus Group. The property in the Pacific Beach neighborhood totals 88,000 square feet and was purchased for $4 million from the Browar Family Trust.
A1PB was represented in the transaction by Tommy Gibbs and Steve Avoyer of Flocke & Avoyer Commercial Real Estate. The seller was represented by Mark Bitterlin of Trust Real Estate Services.
“This corridor has had a handful of recent noteworthy sales. It is one of the busiest intersections in San Diego and has strong surrounding demographics," said Gibbs.
Todd Dwyer of The Focus Group said his company feels the opportunity has significant upside, and they look forward to being part of the corridor's redevelopment.
“Caster Properties Inc. looks forward to opening our newest A-1 Self Storage location in Pacific Beach, making it our 18th store in the San Diego market.” said Brian Caster, president and CEO of A-1 Self Storage. “Given its prime location on Garnet Avenue and Mission Bay Drive, plus easy accessibility to the I-5 freeway, this property possesses great potential.”
A-1 Self Storage has 17 locations in the San Diego County area and more than 40 locations statewide. It is the self-storage division of the Caster Cos., a third-generation, family-owned company headquartered in Southern California since 1959. Caster Cos. develops and manages A-1 Self Storage, A-1 Car Storage and other commercial properties in California. Its portfolio includes more than 4 million square feet of real estate.