LOS ANGELES—The Toyota Campus in Torrance has officially come to market. Toyota Motor North America announced plans to move its headquarters from the 110-acre campus in Torrance to Texas in 2014, and will complete the transfer this year. As a result, the firm is bringing the office property to market. The property is a 2 million-square-foot institutional asset, and is expected to attract a lot of attention from investors.

“In light of the growing creative redevelopment, this sale offers a unique opportunity for the large user or developer,” Petra Durnin, Director Research & Analysis at CBRE and a market source with no relation to the deal, tells GlobeSt.com. “This property is located in the 190th corridor, which often gets less attention, but is in the path of Westside creative demand that runs from Santa Monica to El Segundo.” Durnin and CBRE have no relation to this deal. The property is being marketed by JLL managing director Jeff Adkison and SVP Brendan McArthur, who declined to comment on the deal.

The property is in a prime location, near the Ports and the Los Angeles International Airport as well as the South Bay, a very active office market. Due to the location and shear size of the property, the potential buyer will have plenty of option for use. “It hinges on the buyer and what type of redevelopment takes place, but aside from the amount of current tenant demand, the Los Angeles market has weathered large vacancies before under less optimal circumstances,” says Durnin.

While it is difficult to determine pricing for the asset, it is likely to be significant, with some unnamed sources citing the land value alone at $250 million. Some estimate that it will be the largest transaction of the year, Durnin reminds that pricing in the L.A. market has remained strong this year. “So far this year pricing is holding up in the Los Angeles office market and there are a number of other large buildings expected to come to market this year, but it will likely be the biggest in the South Bay,” says Durnin.