TP-Link Systems Inc. Purchases Office Building In Irvine From Pendulum Property Partners For $40.58M

5 Peters Canyon Rd is an office property located in Irvine, CA, encompassing 157,455 square feet. It was purchased for $40,578,300, resulting in a price per square foot of $257. The market value reflects a competitive demand for Class A office buildings in the area, ideal for businesses looking to operate in Southern California.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $40,578,300
• Address: 5 Peters Canyon Rd
• Market: Irvine
• Square Footage: 157,455
• Price per Square Foot: $257
• Buyer: TP-Link Systems Inc.
• Seller: Pendulum Property Partners
• Buyer's Representative: Eric Purmort - CBRE

Eric Purmort of CBRE facilitated this transaction, highlighting the ongoing demand for Class A office spaces. He noted that this purchase aligns with TP-Link's strategy to establish a long-term presence in Irvine as their U.S. Corporate Headquarters, ensuring connectivity for their workforce in the region.