For years, drivers traveling through the intersection of the 405 and 110 freeways in Torrance passed by a four-story office building bearing the logo of multi-level-marketing firm Herbalife International of America.
The dietary supplement maker has recently listed the almost nine-acre Herbalife Plaza compound for sale, according to a LoopNet listing. A CBRE team led by Barbara Perrier is marketing the property for sale, though no sale price has been publicly disclosed.
Located at 950 West 190 Street, Herbalife Plaza is a 186,000-square foot-building, built in 1981 and remodeled in 1997, plus 600 car spaces.
Herbalife Plaza is currently used for office space by the nutrition company’s marketing teams, as well as quality testing laboratories, said an Herbalife representative.
Herbalife Plaza is also zoned to allow the development of a more than 195,000-square foot industrial building. Over the last few years, a number of investors have pivoted to buy older office buildings and demolish them to make way for new industrial properties.
In a 2022 interview, Patrick Schlehuber, head of investments for Rexford Industrial Realty, one of Southern California’s largest owners of warehouses, distribution centers and manufacturing properties, said that his firm would only acquire office properties that offer zoning rights to allow for conversions for industrial sites.
“We need to be able to do industrial by right,” he said.
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Herbalife will lease back the office building for two years, according to the LoopNet listing, with two six-month extension options at a market rate lease.
The leaseback deal “is structured to provide the optimal time-period to finalize by-right entitlements,” CBRE said in marketing materials.