Local Broker Helps Social Impact Fund Buy Office Campus in Baldwin Hills for $35M
4S Bay Partners, a Chicago-based investment firm, recently purchased a 3.27-acre office campus in the Baldwin Hills/Crenshaw area for $35 million. According to an article published by the Commercial Observer, the site located at 3731-3761 West Stocker Street consists of four two-story office structures totaling approximately 80,000 square feet.
Representing the buyer in the transaction was James Daughrity of Daughrity Real Estate – a Los Angeles-based, Black owned real estate brokerage company. Daughrity said “the buyer is very familiar with the area and had been looking for more than a year for the ideal development site to build economic value within our community.”
4S Bay Partners’ chief investment officer, Jim Casselberry, elaborated on their intent stating that “as social impact investors, we are excited about this opportunity to support our primary mission to invest in communities of color and to drive new economic investment into the Baldwin Hills/Crenshaw community.”
According to listing broker CBRE, the Stocker campus is being considered for redevelopment projects including a film studio, entertainment campus, and community business incubator.
That use would make sense for the company since 4S Bay Partners acquired LA-based Wayfarer Entertainment in January 2019. Shortly after the sale, The Wrap reported the company established a $25 million social impact fund to create “social cause-driven shows” and content with a focus on “highlighting inspiration, unity and the power of human connection.”