A $40-million, 400,000-square-foot business park will be developed on a 20-acre Torrance parcel formerly used as a maintenance center for the Red Car trolley line.
The developer, Shimizu Land Corp., an American affiliate of one of Japan’s “Big 6" general contractors, has paid about $14 million for the land east of the intersection of 208th Street and Crenshaw Boulevard. The business park will be Shimizu Land’s first solo venture in the Southland.
The Seeley Co.'s Torrance office represented Shimizu in the transaction; the seller, Reynolds Metals Development Co., Richmond, Va., negotiated in its own behalf. Shimizu Land is currently involved in several joint venture developments in Southern California, including the Ritz Carlton Hotel in Marina del Rey, Epson America’s corporate headquarters in Torrance and the Aventine mixed-used project in San Diego.