The Insurance Information Institute has renewed its office lease at 110 William Street.
Savanna and KBS Strategic Opportunity REIT, joint owners of the 928,157 s/f property, announced the 7,900 s/f lease signing.
“The downtown area has continued to gain momentum as tenants in a diverse mix of industries have found a home in Lower Manhattan,” said Brian Reiver, director of leasing at Savanna. “We are equally excited that a long standing tenant in the building has recommitted to both 110 William and Lower Manhattan.”
Savanna and KBS are implementing a capital improvement plan at the building which includes modernizing the lobby and entrance, renovating the roof and façade, and upgrading bathrooms and corridors.
Reiver along with Hal Stein, Adam Leshowitz, Todd Stracci, and Andrew Peretz of Newmark Grubb Knight Frank represented KBS Strategic Opportunity REIT and Savanna in the lease.