$9.5M refinancing secured for Class A industrial flex building in San Diego
JLL Capital Markets arranged financing for 7720 Kenamar Court in the Mira Mesa submarket
SAN DIEGO – Mar. 21, 2023 – JLL Capital Markets announced today that it has arranged a $9.5 million refinancing for 7720 Kenamar Court, a 62,500-square-foot, single-tenant flex industrial building in San Diego, California.
JLL worked on behalf of the borrower, a private investor, in securing the indirect 10-year, fixed-rate loan with a regional bank.
The 2.78-acre property, which features seven drive-in docks and a 22-foot clear height, offers manufacturing, distribution and cultivation capabilities for its tenant. In addition, the property possesses one of the 40 San Diego cannabis grow licenses.
7720 Kenamar Court is located in the heart of the Mira Mesa/Miramar industrial submarket, which benefits from a central location and access to the regional highway network.
The JLL Capital Markets team representing the borrower was led by Senior Director Chris Collins and Analyst Aiden Hayes.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.