A one-story commercial building at 1201 S. Los Angeles St. has been bought, with long-term plans to redevelop the lot. The Los Angeles-based 4D Development and Investment, which opened the 115-unit E on Grand apartment building in South Park in 2017, announced on Sept. 10 that it purchased the 25,787-square-foot property for $10.25 million.
CBRE represented 4D Development in the sale; the seller was a private family. Currently the site holds five retail and wholesale businesses, which will remain, according to the new owner’s plans.
The 4D Development intends to turn the site into a mid-rise mixed-use project with office and retail space, but no timeline has been announced.