Baldwin Hills mall redeveloper eyes massive bioscience center

Capri Capital Partners is negotiating to build a 700K sf facility next to its planned mixed-use complex

Nov.November 07, 2019 10:15 AM
Capri Partners’ Quintin Primo and Fred Leeds
Capri Partners’ Quintin Primo and Fred Leeds

More than a year after Capri Capital Partners won approval to redevelop the 43-acre Baldwin Hills Crenshaw Plaza mall into a massive mixed-use complex, the firm has its sights set on another big project next door.

Capri Capital is negotiating to buy a 10-acre parcel from Fred Leeds Properties in order to build a massive bioscience center, according to Urbanize. The development — part of it would be on city property — would encompass nearly 750,000 square feet.

The proposal calls for 165,000 square feet of incubator space, 196,000 square feet of office space, 360,000 square feet of labs, a 15,000-square-foot retail plaza, and parking for 800 vehicles, according to Urbanize.Health provider Kaiser Permanente recently built an outpatient facility next door.

The property is directly across the street from Baldwin Hills Crenshaw Plaza on West Martin Luther King Jr. Boulevard and Marlton Avenue. In July 2018, Chicago-based Capri got the greenlight to build 961 residential units, a 400-key hotel, a 10-story office building, and another 300,000 square feet of retail and restaurant space.

Fred Leeds Properties owns part of the site and the successor agency to the Community Redevelopment Agency of Los Angeles owns the remaining portion. The two entered into exclusive negotiations to develop the property in 2017. That agreement ran out in March, and Fred Leeds Properties has been talking to Capri Capital since. [Urbanize]Dennis Lynch 

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