ST. LOUIS — Jeff Bucaro of Aries Capital has arranged a $5.8 million permanent loan for Sunset Commons, a Class B office property in St. Louis. An undisclosed life company provided the 10-year loan to the borrower, an affiliate of Arthur Hill & Co. of Evanston, Ill. The loan will replace a maturing CMBS loan issued in 2005. The 77,000-square-foot office property is located east of the I-270 and I-44 Interchange.
PRUSSIA, PA. — Theorem Clinical Research has signed a 29,000-square-foot lease for its new corporate headquarters at Valley Forge Park Place. The building is located at 1061 W. Ninth St. in Prussia. Theorem will move into the new office Aug. 1 from its current location at 630 Allendale Rd. Jim Dugan and Elaine Battaglia of Grubb & Ellis represented the landlord, an affiliate of Keystone Property Group, in the transaction. Taylor Young of Beacon Commercial Real Estate represented the tenant.
HOUSTON — Dallas-based Spire Realty Group has acquired the 342,000-square-foot 1177 West Loop South, an 18-story office tower located in Houston's Galleria submarket. The Class A property is 96 percent leased to tenants including Cornerstone Mortgage Co., Brown Sims and Heritage Texas Properties. The seller was URDANG, a partnership sponsored by Houston-based Griffin Partners.
COPPELL — Archway SCM has leased 90,118 square feet of office/warehouse space, located in KTR's Freeport Crossing Project at 777 Freeport Pkwy. in Coppell. John Lancaster and Rick Medinis of Dallas-based NAI Robert Lynn represented the tenant in the lease transaction. J. Denton Shamburger of Lincoln Property Co.'s Atlanta office represented the landlord.
SANDY, UTAH — Pedersen Worldwide, parent company of Del Sol and Cariloha, has renewed its lease for its global headquarters in Sandy. The Del Sol and Cariloha retail brands will continue to be housed at the facility. Pedersen also signed a lease for its new worldwide distribution center at Freeport West’s Landmark Industrial Park in Salt Lake City. The company will occupy the new distribution center in the third quarter of 2012. NAI Global Corporate Solutions’ Jason Smith and Erik Simper acted as Pedersen’s corporate real estate partner. Smith and Simper, along with NAI’s Luke Burbank, also represented Pedersen in the warehouse transaction. Freeport West was represented by Brad Ross and Mark Dewald. The landlord, the Boyer Company, was represented by Spencer Summerhays and Jake Boyer.
NAPLES, FLA. — A 5,900-square-foot office condo, located at 1865 Veterans Park Dr., Unit 1, has sold for $1.03 million. Dave Wallace of CRE Consultants' Naples office represented the seller, MKK Holdings, in the transaction and procured the buyer, Jaffe Sports Medicine & Rehab.
ALPHARETTA, NORCROSS AND SMYRNA, GA. — Atlanta-based OA Development has awarded Lincoln Property Co. Southeast the leasing assignment for four office properties in metro Atlanta. The properties include the 135,000-square-foot Lakeview 400 and 99,000-square-foot Bluegrass Promenade in Alpharetta; the 111,000-square-foot Northwoods Business Center in Norcross; and the 104,000-square-foot 2400 Lake Park Drive in Smyrna. Michael Howell and Hunter Henritze of Lincoln will handle the leasing for the four office properties.
CHICAGO — Construction of a new office for law firm HeplerBroom LLC is slated to begin this March in Chicago. The firm is moving from its current location at 150 N. Wacker Dr. to 30 N. LaSalle Dr. Chicago-based Fitzgerald Earles Architects and Associates (FEAA) is designing the renovation of the existing 29th floor office suite, which consists of 17,309 square feet. HeplerBroom plans to move into the new space this July.
NEWPORT, N.J. — Antenna Software has expanded its headquarters at 111 Town Square Place in Newport. The company creates and manages mobile applications and websites. Antenna Software signed a 10-year lease for 22,000 square feet, which more than doubles its current space. The transaction also included a two-and-a-half year extension of the company's existing lease. Peter Hamburger, Harlan Hollander and Walter Shoenberg of Cushman & Wakefield's East Rutherford office represented the tenant in the transaction. Newport Center I Ltd. Partners, the building owner, was represented in-house by Thomas Traugott.
PITTSBURGH — Healthcare Trust of America Inc., a REIT, recently purchased Penn Avenue Place, an office building in Pittsburgh's central business district, for $54 million. Built in 1907, the 558,000-square-foot building was renovated in 1997 and is 99 percent leased. The property is located at 501 Penn Ave. Mark Popovich led the HFF team that represented the seller, an affiliate of Oxford Development Co., in the transaction.