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California  + Orange County  + Office  | 

Toda America Takes Irvine Asset for $26M

San Francisco-based Toda America Inc., a wholly owned subsidiary of Toda Corporation of Japan, acquired an 68,427 square-foot office building in Irvine from Canopi LLC for $26.2 million. That works out to a price of $383-per-square-foot and equates to a 5.6% capitalization rate.

Located at 111 Pacifica, the 92%-leased, Class A office building is located in the Irvine Spectrum Entertainment Triangle.

CBRE’s Kenji Sakai and Yoshio Fujiwara represented the buyer. CBRE’s Gary Stache, Anthony DeLorenzo and Rick Sherburne lead the transaction on behalf of the seller.

Sakai says, “Our CBRE teams did an excellent job in closing this transaction given the current COVID-19-related travel and touring restrictions.” He noted the buyer was “highly motivated” to acquire an Irvine Spectrum Entertainment Triangle site that has “scarcity value.” He adds, “It was a rare opportunity to acquire a Class A property in this location and kick-off their full-scale U.S. real estate expansion.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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