LOS ANGELES — Chicago-based 4S Bay Partners has acquired a 3.3-acre redevelopment site, located at 3731-3761 E. Stocker St. in Los Angeles, for $35 million. The sellers are David Shophet of Sharp Capital and David Shaaya of One Cole Group.
The site contains four two-story office structures, totaling 80,000 square feet, built in 1952. At the time of sale, the buildings were more than 90 percent occupied by a variety of Los Angeles County and City community services-oriented tenants. The site is located in an opportunity zone with a transit-oriented development tier III designation.
4S Bay plans to occupy a portion of the property. The company focuses on humanitarian causes, including educational opportunities, economic improvement, human rights, wellness and environmental sustainability.
Laurie Lustig-Bower and Kamran Paydar of CBRE represented the seller, while James Daughrity of Daughrity Real Estate represented the buyer in the deal.