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2/14/17
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Stocker Plaza, a four-building, 78k sf office project in LA’s Baldwin Hills/Crenshaw District, was acquired for $13.33 mil by an investment group led by Sharp Capital and Cole Capital Group.
The property, situated on 3.25 acres at 3731-3761 Stocker St, consists of a large surface parking lot and four low-rise structures that currently house divisions of Los Angeles County, the City of Los Angeles and various other groups. It is adjacent to the Baldwin Hills Crenshaw Plaza.
The seller, Stocker Plaza Associates LLC, was represented by Michael J. Dunn, president of Dunn Property Group. Richard Higgins, managing director with Charles Dunn Company, represented the buyer, Stocker Holdings LLC.
The property is part of a larger acreage that Mr. Dunn’s grandfather, Charles J. Dunn, entitled and sold for the Archdiocese of Los Angeles to the developer that constructed the current improvements in the 1950s.
“Stocker Plaza had a significant amount of investor interest as an office project and as a redevelopment opportunity,” said Dunn. “The anticipated opening of the Crenshaw/LAX light rail line and other developments in the area created investor interest from a variety of buyers.”
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