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7250 Convoy Court is a 25,556 SF industrial property located in San Diego, California. The property rests on 2.67 acres and is located specifically in Kearny Mesa, a suburban community within the city of San Diego. Kearny Mesa is a major industrial and commercial area for northern San Diego, and the property benefits from access to four major freeways: Interstate 805, Interstate 15, State Highway 163, and State Highway 52. In addition, Miramar Naval Air Station is situated to the north of the community.

Originally built in 1972, the property was recently given a major facelift by the existing ownership while in between tenants in 2017. The building is currently 100% occupied by two credit tenants with new 10-year leases and it also enjoys cell phone tower income.

The borrower is a high net worth investor based in Southern California and is a repeat client of Tower Capital. The borrower initially had received loan terms through a direct relationship with a credit union and came to Tower seeking a better deal. Through Tower Capital’s relationships, a California-based bank was able to offer a significantly lower interest rate than what was on the table, saving the borrower $160,000 over the life of the loan.

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