IRA Capital has acquired a single-tenant office building in Irvine, California, for $103 million. The 9-acre office campus is fully leased to Anduril Industries, a growth-stage defense contractor with a valuation of $4.6 billion.

Located at 2722 Michelson in the Irvine Business Complex, the property is the former headquarters of St John Knits and was fully renovated in 2019. The property features 24-foot ceilings, a light-filled open plan that encourages collaboration, multiple meeting spaces, a fitness center, landscaped courtyards and a well-equipped kitchen and cafeteria.

This is the latest in a flurry of investment activity involving IRA Capital this year. The firm has been actively acquiring and selling properties for the past six months. In August, it sold its medical office portfolio for $700 million. Nuveen US Cities Office Fund and an institutional capital partner acquired a portion of the portfolio for $462.9 million.