Poway Industrial Trade: $43.3M Deal
Realty Income paid $43.3M for a light‑industrial/manufacturing facility in Poway, signaling continued institutional appetite for stabilized SoCal industrial assets. The acquisition illustrates capital flow into serviceable, income‑producing properties even as development and leasing dynamics recalibrate. Deals like this help set comps for regional pricing and investor demand in Southern California. (rebusinessonline.com)
The asset is a 133,844-square-foot industrial/manufacturing building at 13100 Danielson Street in Poway sitting on roughly 7.2 acres and is fully leased to Liberty Packaging, a corrugated-box and packaging manufacturer. (cbre.com) (libertypackaginginc.com) The single-story property includes nine dock‑high doors, 11 grade‑level doors, a secured truck court and a dedicated loading area, and it sits along the Interstate‑15 corridor north of Scripps Poway Parkway — features and location that support both manufacturing throughput and regional distribution. (cbre.com) (rentv.com) Market math: the transaction implies about $324 per square foot — price-per-square-foot is the simple metric (sale price divided by building area) investors use to compare recent trades and establish local valuation benchmarks. (rentv.com) CBRE said its Hunter Rowe, Brian Russell, Michael Longo and Matt Carlson represented the seller and described the site as a “mission‑critical” manufacturing facility — mission‑critical here meaning the building is configured and operated in a way that’s essential to the tenant’s core production and supply-chain functions — and the seller was not publicly disclosed. (cbre.com) This property has a recent trade history: LPC West in partnership with New York Life Investors acquired the same building in late 2022 for about $35.1 million, so the new sale represents roughly a 23% increase in reported transaction value since that 2022 trade (October 2022 sale reported). (bisnow.com) (prop.fi) Realty Income’s stated acquisition focus includes stabilized industrial and net‑leased assets and sale‑leaseback opportunities — a sale‑leaseback is when an occupier sells its real estate to raise capital and immediately leases it back to continue operating — so a fully occupied, purpose‑built packaging plant with strong loading infrastructure fits that playbook as a predictable, income‑producing investment. (realtyincome.com) (rebusinessonline.com)
