Developer Sares-Regis sells portion of its 110-acre Torrance office campus

The property, which Preylock Real Estate Holdings acquired, is part of the larger portfolio Sares-Regis bought from Toyota last year

TRD LOS ANGELES /
Jul.July 10, 2018 01:00 PM
2050 W. 190th Street

Sares-Regis appears to have sliced off a part of the 110-acre former Toyota national headquarters it scooped up last year.

The Irvine-based developer sold Gramercy Plaza at 2050 W. 190th Street to the Century City firm Preylock Real Estate Holdings for $26.2 million. It’s just across Gramercy Place from the main building of the Toyota National Headquarters, which Sares-Regis bought last October from the Japanese carmaker for $270 million.

Undated photos show Toyota signage on the building. Gramercy Plaza is just over 5.5 acres with a 27-year-old office building spanning 158,000 square feet. Tenants now include a tour company catering to tourists from Japan and a healthcare staffing agency.

The sale figures out to $166 per square foot. Sares-Regis and Preylock could not be reached for comment.

Torrance has seen a handful of its large campuses trade hands over the last year or so, although none near the size of the Toyota campus. FRM Associates paid PM Realty Group and Platform Ventures $124 million for a 27-acre office property in the city last month. Continental Development picked up an 11.5-acre property for $49 million last August.


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Faring makes $30M assemblage play on WeHo/LA border
From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Graymark, Nuveen pay $97M for El Segundo creative office
arrow_forward_ios

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

Loading...