Herbalife buys its Torrance HQ for close to $30M

Los Angeles /
May.May 16, 2016 11:05 AM

Health supplements giant Herbalife has acquired its Torrance headquarters for $29.6 million or $159 per square foot, 10 years after first inking a deal to lease the building, The Real Deal has learned.

The company bought the building from its landlord, SteelWave, an investment firm which bought the building in the mid-1990s under its old name, Legacy Partners.

Frank Scott and Mike McRoskey of JLL were involved in brokering the transaction. McRoskey declined to comment, while representatives for both Herbalife and SteelWave were unavailable.

Herbalife, perhaps best known for assaults lobbed at it by investment mogul Bill Ackman, who has claimed the company is running a pyramid scheme, first moved its Americas headquarters to the building, at 950 West 190th Street, in 2006, bringing 600 employees to the 186,000-square-foot property.

Herbalife’s lease came with a right of first refusal to buy the building, which was built in 1980.

The Torrance office market is on the upward track, according to recent figures. Office space in the neighborhood was 24.1 percent vacant in the fourth quarter, according to data from JLL, down from 25.3 percent in the third. The average asking rent was $2.55, compared to $2.26 in the same period a year earlier.


Related Articles

arrow_forward_ios
(Google Maps)
Here’s what tenants are paying at Torrance Towne Center mall
Here’s what tenants are paying at Torrance Towne Center mall
19330 Hawthorne Boulevard (Google Maps, iStock)
Charing Cross buys Wal-Mart anchored Torrance shopping center
Charing Cross buys Wal-Mart anchored Torrance shopping center
Landquist's David Meyer and a rendering of the project (Lundquist, LA County via LABJ)
Lundquist Institute approved to build 15-acre biotech park outside Torrance
Lundquist Institute approved to build 15-acre biotech park outside Torrance
The bowling alley that will be demolished in Torrance (Credit: Google Maps)
Bowling alley won’t be spared if proposed Torrance retail center is approved
Bowling alley won’t be spared if proposed Torrance retail center is approved
Torrance’s Gateway Towers trade for $107M
Torrance’s Gateway Towers trade for $107M
Torrance’s Gateway Towers trade for $107M
Prologis spends $49M to acquire 31 acres of industrial land
Prologis spends $49M to acquire 31 acres of industrial land
Prologis spends $49M to acquire 31 acres of industrial land
Developer Sares-Regis sells portion of its 110-acre Torrance office campus
Developer Sares-Regis sells portion of its 110-acre Torrance office campus
Developer Sares-Regis sells portion of its 110-acre Torrance office campus
Torrance office campus sells for $124M
Torrance office campus sells for $124M
Torrance office campus sells for $124M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...