Rexford Industrial Acquires Herbalife Plaza in Torrance

Los Angeles-based industrial REIT Rexford Industrial Realty Inc. acquired the 186,000-square-foot Herbalife Plaza office building located at 950 W. 190th St. in Torrance for $41.3 million on July 22. The office building was marketed as a potential conversion site where a 195,000-square-foot Class A industrial building could be constructed. As a bonus, the 9.11-acre site is within an Opportunity Zone and holds industrial zoning, which would allow conversion without new zoning entitlements.

Herbalife International of America Inc. leased back the property for two years following the transaction and has two six-month options to extend the lease. The company is a fully owned indirect subsidiary of Herbalife Ltd. The sellers were represented by a team led by Barbara Perrier and Mike Longo of CBRE.