Patrick Mooney Of SpyGlass Pharma Leases 32,600 SF Office At 670 Spectrum Center Drive
670 Spectrum Center Drive
Building Size
32,600 SF
Asset Type
Office
Closing
Mar 27, 2026
AI
The property asset involved in this transaction is an office space located at 670 Spectrum Center Drive in Irvine. The asset encompasses a total square footage of 32,600 and falls within the Irvine market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Landlord: Donald Bren & Roger DeWames - Irvine Company
- Tenant: Patrick Mooney - SpyGlass Pharma
- Leased Space: 32,600 SF
- Market: Irvine
The lease agreement was established between SpyGlass Pharma Inc and Irvine Company, facilitating support for late-stage clinical development and commercialization of SpyGlass Pharma’s ophthalmic drug delivery platform. The expansion aims to enhance SpyGlass Pharma’s presence in Southern California, which is experiencing increased demand for life sciences space.
Players
Irvine Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93