A newly built Kearny Mesa self-storage complex has been sold for $19.1 million.
The project at 9645 Aero Drive has 88,000 square feet of rentable space.
The seller was Baron Equities of Los Angeles.
The buyer was not disclosed.
Greg Wells, senior director of Cushman & Wakefield’s Self Storage Practice Group represented both parties.
“Aero Drive Self Storage is a best-in-class asset located on a main thoroughfare with high traffic counts in a densely populated, high barrier to entry central San Diego trade area,” Wells said.
“Sold at completion of construction, the project offers the buyer the possibility of higher yields versus stabilized assets.”