JS Capital Enterprises Inc., an affiliate of Los Angeles-based JS Western Retail Investments, has acquired a historically-designated building in East Village for $4.7 million, according to brokerage firm Colliers International.
The seller of the 5,000-square-foot property at 701 Island Ave., known locally as the “Pack Loft Building,” was Bledsoe Warehouse LLC, an affiliate of San Diego’s Cisterra Development. The seller was represented by Colliers’ Bill Shrader, David Maxwell and Joe Brady.
Cisterra also recently sold the neighboring Unicorn Building, at 704 J St., to Paragon Real Estate Investments for $4.35 million. Both former warehouse buildings underwent renovations in connection with Cisterra’s development of the nearby Sempra Energy tower, which was recently completed.
Brokers said JS Capital Enterprises plans further renovations of the Pack Loft property to include new creative office and ground-floor retail space, expected to be delivered in February 2016.