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Cannabis-Licensed Flex Building Secures $9.5M Refinance

Cannabis-Licensed Flex Building Secures $9.5M Refinance

JLL Capital Markets has arranged the $9.5 million refinancing for 7720 Kenamar Court, a 62,500-square-foot, single-tenant flex industrial building in San Diego, CA. The property possesses one of only 40 San Diego cannabis grow licenses.

The JLL team representing the borrower, a private investor, was led by Senior Director Chris Collins and Analyst Aiden Hayes. JLL was able secure the indirect 10-year, fixed-rate loan with a regional bank.

The nearly 3-acre property, situated about 15 miles north of Downtown San Diego, features seven drive-in docks and a 22-foot clear height, and offers manufacturing, distribution and cultivation capabilities for its single tenant. It is located in the heart of the Mira Mesa/Miramar industrial submarket, which benefits from a central location and easy access to the regional highway network which includes Interstates 5, 15 and 805. 


Inside The Story

JLL Capital MarketsCity of San Diego Cannabis Information

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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