Realty Income has scooped up a 133,844-square-foot industrial and manufacturing facility at 13100 Danielson Street in Poway for about $43.3 million, adding a serious workhorse to its portfolio in one of central San Diego’s tightest industrial zones. The purpose-built plant covers roughly 7.2 acres along the I-15 corridor and is fully leased to a corrugated-box manufacturer, giving the buyer a mission-critical tenant in a supply-constrained pocket where space almost never comes up for sale.
CBRE arranged the sale, and brokers Hunter Rowe, Brian Russell, Michael Longo and Matt Carlson represented the undisclosed seller, according to Connect Commercial Real Estate, which pegged the purchase price at $43.3 million.
What Realty Income Just Bought
Offering materials from CBRE and the listing on LoopNet show the single-story facility was built in 1998 and totals 133,844 square feet. The building is set up for serious throughput, with nine dock-high doors, 11 grade-level doors and a secure truck court to keep trucks and loading activity contained.
The property is 100% NNN leased to Liberty Packaging through April 2030, with 4% annual rent bumps, per LoopNet. The tenant has also poured significant capital into the facility in recent years, signaling it is firmly committed to the site.
Poway’s Industrial Crunch
"This was a rare opportunity to acquire a mission-critical manufacturing asset in Central San Diego," Rowe said, as reported by Connect Commercial Real Estate. In other words, deals like this do not sit on the shelf for long.
Market data backs up the enthusiasm. Kidder Mathews has repeatedly flagged Poway as one of San Diego County’s most constrained industrial submarkets, with direct vacancy hovering in the low single digits in recent reports. For investors, that kind of scarcity translates to stable occupancy and strong leverage at the negotiating table.
Why Realty Income Wanted In
For Realty Income, the acquisition slots neatly into a strategy built around mission-critical, income-generating real estate. This Poway plant brings in a long-term operational tenant in an infill location, with rent escalations already baked into the lease.
The REIT has been active across the region this year. On March 23, 2026, the company announced a $694 million term-loan financing tied to San Diego activity, underscoring that it is still deploying serious capital in the area, per Realty Income.
Lease Clock Is Ticking To 2030
With the property fully leased through April 2030, according to LoopNet, Realty Income steps into predictable NNN cash flow while effectively locking in Liberty Packaging’s Poway operations for the foreseeable future.
The seller’s identity has not surfaced in trade coverage, and the next chapter is one for the local real estate crowd to watch. Will Realty Income sit tight and treat the asset as a long-term income play, collecting steady rent in a market with almost no vacancy, or look to reposition the property once the lease burns off in the next cycle?
