Sares Regis to Redevelop Former Toyota HQ
- Oct 23, 2017
Sares-Regis Group, of Irvine, Calif., has completed its purchase of Toyota’s former Los Angeles–area national headquarters, an approximately 110-acre complex totaling more than 2 million square feet of office and industrial space in Torrance, Calif., JLL Capital Markets announced.
Managing Director Jeff Adkison and Senior Vice President Brendan McArthur led the JLL team on the sale.
Factors influencing expansion decision
The campus is near the Ports of Long Beach and Los Angeles and about 10 miles from Los Angeles International Airport.
“This is an exceptional asset with an ideal location that presented upside opportunity through several investment strategies,” Adkison said in a prepared statement.
“Sares Regis Group is excited about partnering with the City of Torrance to reposition this world-class property and bring new quality companies to Torrance,” added Peter Rooney, president of SRG Commercial Development. “A major factor in our decision to pursue this project was the high quality of life enjoyed by the residents and the business community of Torrance.”
Toyota built and/or acquired the Torrance campus in stages beginning in the mid-1970s, a JLL spokesperson told Commercial Property Executive. The property totals 18 buildings, five of which are LEED Gold facilities, while the rest are at high 90s Energy Star ratings.
Site’s special characteristics
The complex also boasts some unusual features, such as its own data center, a test facility, more than 8,000 parking spaces, four central plants, five diesel generators, a hydrogen fuel cell power plant, two hydrogen fueling stations, two dining centers, a cafeteria, two helipads, a pool and a tennis court.
A Sares-Regis spokesperson confirmed that the company is not disclosing the complex’s price tag and also stated, “At this time it would be premature to talk about the possibilities for this premiere property.”
Toyota’s move from the SoCal campus has been anything but hasty. The automaker announced in April 2014 that it would be moving its North American headquarters and about 3,000 Torrance-based jobs, as well as New York– and Kentucky-based employees, to Plano, Texas, in the Dallas–Ft. Worth Metroplex.
Image courtesy of Sares-Regis Group