4S Bay Partners has acquired a 1.85-acre property at 3701 W. Stocker St. in Baldwin Hills, Calif., for $24 million from Sticks Holdings and an affiliate of Optimus Properties. The purchase is part of a redevelopment project in the Baldwin Hills Crenshaw Corridor.
“We purchased the property in 2003 with a strong conviction in the future growth of Baldwin Hills. The sale is evidence of how much the area continues to attract new development,” said Curtis Fralin, CEO of Sticks Holdings.
The property at 3701 W. Stocker St. is in a designated opportunity zone with a transit-oriented development designation, which describes areas designated by the county for pedestrian-friendly and community-serving uses. The property contains one four-story office structure, approximately 45,000 square feet, built circa 1954. The site is in proximity to the planned Metro Crenshaw/LAX light rail transit line.
The property acquisition is in addition to properties 3731, 3741, 3751, 3
