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2/26/20
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JCKL Partners LLC has purchased The Pac Lofts Building, a 20k sf commercial building in San Diego’s popular East Village area for $7.4 mil ($370/sf). The property is located at 701 Island Ave, at the corner of Seventh Ave and Island.
Built in 1925, the four-story building was extensively renovated in 2017 by the seller. The building sits just one block east of the Gaslamp District and two blocks north Petco Park, home to the San Diego Padres.
Damian McKinney, Andrew Meyers and Julie Dunlap with Avison Young represented the buyer, who will occupy the second and third floors while seeking a tenant for the ground floor. Law firm Noonan Lance has occupied the building’s fourth floor since 2016. The seller, JSW Pack Loft, LP was repped by Nick Totah, Ross Sanchez, and Ricky Partida of Marcus & Millichap’s Totah Group.
“The building has the vintage charm of its 1920s origins with its original polished hardwood floors, its exposed-brick interior walls, and its leaded-glass windows that swing open,: noted Meyers. “At the same time, it provides high function and practicality from its new roof, HVAC, elevator, ADA restrooms, and fiber optic cabling.”
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