Darryl Button Of Pacific Life Insurance Company Leases 99000 SF Office At 840 Newport Center Drive
840 Newport Center Drive
Building Size
99,000 SF
Asset Type
Office
Closing
Mar 25, 2026
AI
The asset involved in this transaction is an office property located at 840 Newport Center Drive in Newport Beach, California. This facility encompasses 99,000 square feet of space, catering to the growing demand for office space among financial services firms.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 840 Newport Center Drive
- Market: Newport Beach
- Landlord: Roger DeWames - Irvine Company
- Tenant: Darryl Button - Pacific Life Insurance Company
Roger DeWames, representing the Irvine Company, oversaw the leasing of the property, while Darryl Button, representing Pacific Life Insurance Company, facilitated the expansion of the company's operational capabilities in Orange County. The transaction highlights the performance of Irvine Company, achieving a 90% occupancy rate across its portfolio in 2025.
Players
Newport Beach 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