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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
- ◦Sale/Acquisition


