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.