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Sares Regis Group has purchased Toyota's former national headquarters in Torrance, California, for an undisclosed amount.
Toyota Motors North America vacated the 2M SF office and industrial complex on more than 110 acres when it moved operations to Plano, Texas, this year, where it built a new HQ. The Torrance property went up for sale in February.
One of the main reasons Sares Regis Group acquired the campus is because of the high quality of life in Torrance, SRG Commercial Development President Peter Rooney said.
"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," he said in a statement. "This is an ideal location for businesses looking to expand or relocate to the South Bay.”
The bid process was competitive, but Sares Regis Group had the best, most comprehensive offer, putting it on top, according to JLL Capital Markets Managing Director Jeff Adkison. Adkison and Senior Vice President Brendan McArthur led the JLL team on the sale.
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