Stephen T. Toohill
Partner
Expertise
Education
- University of Notre Dame Law School, 1984, JD
- Bradley University, 1981 BS Accounting, magna cum laude
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Profile
Stephen Toohill has over 40 years of broad commercial real estate experience with a focus on representation of commercial, retail, hospitality, industrial and biotech developers, owners and tenants, with respect to acquisition, development, leasing and sale of improved and unimproved property including office and industrial properties. Mr. Toohill has particular experience in mixed-use high-rise commercial development, representing landlords and tenants in commercial leasing transactions, hotel acquisitions and representation of borrowers in complex loan and loan workout transactions. He is a frequent speaker on commercial leasing issues. In addition to contributions to the CEB Office Leasing and Ground Lease Practice Treatises, Mr. Toohill has authored various articles and updates on commercial leasing matters.
Mr. Toohill was a certified public accountant in Illinois in 1983.
Experience
- Representation of a public company in real estate matters throughout the United States and internationally in 2025.
- Representation of a manufacturing company in a build to suit lease in Arizona.
- Representation of a development company in connection with a construction loan for a senior living facility in St. Johns, Florida.
- Representation of a San Diego company in connection with sales and development transactions in 2025, including sales transactions in excess of $100,000,000.
- Representation of a developer/owner in connection with a lease of 120,000 square feet in Orange County, California.
- Representation of real estate investors in acquisitions of two high-rise office buildings in Irvine, California, each transaction over $115,000,000.
- Representation of a joint venture, including Hines, Urban Pacific Development and Goldman Sachs in the acquisition and development of two San Francisco parcels relating to the San Francisco Transit Center development, which will include, on one parcel, a 750 foot tall mixed use building, including residential units, office space, retail space, hotel space, as well as affordable housing units.
- Representation of a developer in acquisition of land, joint venture negotiations, financing, development and ultimate sale of all units in a two phase high-rise condominium project known as Rincon Hill in San Francisco, California.
- Representation of a public company in acquiring seven commercial lots for expansion of the company campus in Carlsbad, California.
- Representation of a developer in the development, financing and branding of a hotel in the Waikiki Beach area in Honolulu, Hawaii.
- Representation of an investor/owner in the acquisition, financing, branding and ultimate sale of a 20 hotel portfolio located throughout the United States.
- Representation of public company tenant in a 200,000 square foot build-to-suit leasing transaction in Carlsbad, California.
- Representation of public company tenant in a 100,000 square foot build-to-suit leasing transaction in Tempe, Arizona.
- Representation of San Diego investor in portfolio agreement with investment capital partner relating to acquisition of retail properties throughout Southern California. Closed six acquisitions of retail properties in a twelve month period.
- Representation of One America Plaza as landlord in leasing of approximately 500,000 square foot office building from initial lease up in 1992 through approximately 2006.
- Representation of investor/owner relating to three downtown San Diego high-rise office buildings comprising approximately 1,200,000 square feet from acquisition until disposition.
Achievements & Affiliations
- Martindale-Hubbell AV Preeminent® Rated
- Certified Public Accountant, Illinois
- AV Top Rated Lawyer®- Real Estate Law
- Top Lawyers in San Diego® – Real Estate Law
- The Recorder, Real Estate Lawyer of the Year Finalist, 2025
- ALM: CA Legal Awards, Real Estate Lawyer of the Year Finalist, 2025
- The Best Lawyers in America® – Real Estate Law, Multi-Year Recipient
- Avvo® Top Rated Lawyer, 2022
- San Diego Magazine’s Top Lawyers in San Diego® – Real Estate, 2019 – 2022
- Connect CRE, Lawyers in Real Estate Award Winner, 2021
- San Diego Business Journal’s Leaders in Law Award Finalist, 2019
- Wall Street Journal, Best Lawyers in Southern California, 2018
- Chair, Board of Trustees, Nativity Prep Academy, 2012-2017
Publications & Lectures
- “The ABCs of Estoppels and SNDAs” Commercial Property Executive, March 27, 2023
- “When CRE Sellers Are No Longer King” Commercial Property Executive, August 17, 2022
- “Beware of Hidden Issues in Commercial Leases” Commercial Property Executive, October 19, 2021
- “Consider This Before Undertaking a Higher-Use Conversion” Commercial Property Executive, February 3, 2021
- “Shedding Light on Solar Compliance Costs“ Commercial Property Executive, March 4, 2020
- “Is Adaptive Reuse the New Normal?” Commercial Property Executive, September 19, 2018
- Contributing author, CEB Office Leasing Treatise
- Contributing author, CEB Ground Leasing Treatise
- Commercial Leasing in the New Economy – State Bar Real Property Retreat
- Work Letter Issues Seminar – State Bar Real Property Retreat
- Advanced Commercial Lease CEB Seminar
- Lease Workouts – State Bar of California
- Commercial Lease Remedies – CLE Advanced Conference
- Environmental Issues in Leasing – Real Property Law Section
- Lease Review Workshop – BOMA