Phoenix-based Wentworth Storage Co. LLC has acquired two industrial properties in San Diego and Chula Vista for a total of approximately $27.8 million, with plans to convert them into self-storage facilities, the development and investment firm announced.
A company statement said the properties are the 81,980-square-foot building at 12340 World Trade Drive in San Diego’s Carmel Mountain Ranch, purchased for $14.5 million; and the 90,000-square-foot building at 2391 Fenton St. in Chula Vista’s Eastlake neighborhood, purchased for $13.3 million.
Wentworth plans to convert both buildings into climate-controlled self-storage facilities with approximately 100,000 net rentable square feet, expected to open in 2017.
Officials said the company closed on more than $140 million worth of self-storage projects in the last year and is either under contract or evaluating another 1 million square feet of projects nationwide.
In the Eastlake deal, the buyer was represented by Ramey Peru, Chaz Smith and John Finnegan of Colliers International Group Inc. The seller was represented by Michael Mossmer, Tracy Clark, Curt Perry and Kimberly Clark of Voit Real Estate Services.