News
KEYSTONE BAGS HQ
March 8, 2012
| Like a Frasier to Cheers, Theorem Clinical Research recently spun off of Omnicare and needed its own HQ. And it's just signed a 29k SF deal in King of Prussia. |
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| Yesterday, we chatted with Beacon Commercial Real Estate's Taylor Young about the HQ deal he secured for Theorem at Valley Forge Park Place, a 78k SF office building off W 9th Ave owned by an affiliate of Keystone Property Group. “We were really able to negotiate an aggressive deal with Keystone,” Taylor tells us, but declined to elaborate. A source familiar with the deal says Theorem signed an 11-year deal with 12 months' free rent and $30k in moving allowance. Grubb & Ellis' Jim Dugan and Elaine Battaglia repped the landlord. |
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| Here's Theorem's new building. Taylor tells us he's handling work for the research company all across the country, including subleasing about 30k SF in San Jose. It's not the only tenant with which he's out in the market. While he declined to identify the other companies, Taylor says he's actively working on 23 transactions in 16 states. And while the economic recovery is under way, landlords across the country are stil being aggressive with good credit tenants, he says. |
