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Deals & Dealmakers

Savanna, KBS sign string of new tenants at spruced up 110 William

Savanna, the New York-based real estate private equity and asset management firm, and KBS Strategic Opportunity REIT, a public non-traded real estate investment trust based in Newport Beach, Calif., have announced that they have leased more than 68,000s/f at 110 William Street since jointly acquiring the property in May 2014.

110 William Street is a 32-story, 928,000 s/f office tower located at the corner of William and John Streets in the heart of Lower Manhattan.

110 William St
110 William St

The building offers direct entry from its lobby to the subway and the new Fulton Transportation Center, designed by Arup and Grimshaw Architects.

The William Street corridor has seen dramatic improvement as institutional ownership has purchased and upgraded properties such as 100 William, 123 William, 130 William and 156 William, significantly enhancing the streetscape.

Since acquisition, Savanna and KBS have also completed capital improvements including a new lobby and entrance, renovated roof and façade, new pre-built office spaces, and upgraded bathrooms and corridors throughout the building.

Savanna and KBS are working with the leasing team of Hal Stein, Todd Stracci and Travis Wilson at Newmark Grubb Knight Frank.
Perseus, a provider of managed services for high-precision, high-speed, high-performance applications, leased the entire 31st floor of 10,969 s/f.

GLSEN, Inc., a national education organization focused on ensuring safe and affirming schools for all students, leased the entire 30th floor of 11,410 s/f.

On the 24th floor, Savanna and KBS signed two new leases. Ebiquity, Inc., an independent marketing analytics company, signed a new lease for 7,564 s/f, and Akelius Real Estate Management, LLC, a real estate investment firm, leased 4,091 s/f.

On the 18th floor, Smarsh, Inc., a provider of archiving and compliance solutions for companies in regulated and litigious industries, signed a new lease for 4,475 s/f.

Additionally, the Insurance Information Institute, a non-profit research and communications organization, renewed its lease and relocated to a 7,836 s/f space.

“We are pleased both that new tenants have chosen 110 William Street and that longtime tenants have decided to continue to grow their business at the property,” said Brian Reiver, director of leasing at Savanna. “The improvements made by Savanna and KBS have been a key factor in our continued leasing success.”

“The Downtown leasing market has diversified tremendously and we have seen that trend play out at 110 William,” said Shep Wainwright, senior vice president at KBS.

“The building’s features and prime location in the heart of Lower Manhattan have attracted tenants from a wide array of industries, and the recent leases we’ve signed are evidence of that diversification.”

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