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Saturday, Feb 4, 2023
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Developer Receives $8M in Financing for Poway Parcel

An Orange County developer, 5-Ronin, has received $8 million in financing for the acquisition of a 2.78-acre Poway site with plans to use it for outdoor industrial storage.

The equity capital financing was arranged by Dekel Capital of Los Angeles.

The property is located at 12690 Danielson Court in the Poway Business Park.

The fenced lot includes a standalone building, allowing prospective tenants to operate out of a building while using the excess land, said 5-Ronin Partner, Benji Miller.

“With low finish industrial vacancy below 1%, Poway has a limited supply of available low coverage industrial sites,” Miller said. “There was significant interest from both users and operators for this property, but our familiarity with the market — this is our fourth transaction in San Diego in the last 12 months — and broker relationships enabled us to be in a strong position to acquire the property.”

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