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.