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Pack Loft Building

Asset Location:                                San Diego, CA
Total Square Footage:                    20,000
Purchase Price:                                $4,700,000
Total Costs After Renovation:     $8,960,000
Anticipated Hold Period:             3 Years
Building Type:                                 Creative office over retail

Status of Asset:                                Construction complete / Lease-up

The Pack Loft building is a 20,000 sf mixed-use (office / retail) property which sits on an infill, corner parcel in the Ballpark/East Village neighborhood of San Diego. The building, originally an industrial property built in 1925, was acquired in August of 2015. The infrastructure was fully gutted, a new elevator installed and the interior was designed to optimize the open space creating a desirable floor plan for our new tenants. The structure itself has expansive floor plates, a solid brick facade, wood floors and an open truss ceiling.

The adjacent 16-story Sempra Energy headquarters opened late 2015 and the Ritz Carlton / Whole Foods are slated for development directly across the street. These, along with other nearby iconic developments make Pack Loft the “ground zero” location of the East Village renaissance.