Toyota is officially driving away from Torrance.
Irvine-based developer Sares Regis is buying the Japanese car manufacturer’s massive Torrance campus, the Los Angeles Times reported.
The sale, expected to close next month, could have a pricetag as high as $150 million, though the price is not yet known.
The 110-acre campus includes about 2 million square feet of office and industrial space. A data center, five diesel power generations, two helipads, two dining centers, a cafeteria, tennis court and fitness center are spread out across the property’s 18 buildings.
Toyota announced its departure for Plano, Texas, in 2014. It listed its sprawling campus in February. Nearly 75 percent of Toyota’s workers in Torrance are expected to move to Texas.
JLL’s Jeff Adkinson and Brendan McArthur led the listing team.
Sares Regis operates commercial and residential development services throughout California, Phoenix and Denver, according to its website. Its plans for the facility are unknown.
Torrance has been home to major industrial and commercial deals recently. Earlier this year, Continental Development paid $49 million for a commercial property on Madrona Avenue. Bridge Development sold its 20-acre industrial site to Denver-based Industrial Property Trust just a few days earlier. [LAT] – Natalie Hoberman