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Arizona company buys South Street office building

Natalie Kostelni
Arizona company buys South Street office building

Healthcare Trust of America Inc. has paid $10.5 million for 1740 South St., a 45,569-square-foot medical office building in Philadelphia.  The property was sold by affiliates of Chestnut Funds and Anchor Health Properties, which paid $2.35 million for it in 2007. The office building was developed in 1986 and renovated in 2010. It was put up for sale in early April and, after 30 days on the market, garnered 145 signed confidentiality agreements, said Ben Appel, a broker with HFF who arranged the sale with Evan Kovac and Andrew Milne.