Savanna, a New York-based real estate private equity and asset management firm, has arranged the signing of a new lease at 100 Wall Street for two full floors, totaling 39,298 s/f.
Lester Schwab Katz and Dwyer (LSK&D), a leading litigation law firm, will occupy the entire twenty-sixth and twenty-seventh floors, making 100 Wall Street its new Manhattan headquarters.
The tenant was represented by Marc Shapses, Joe Messina and Oliver Petrovic of Studley in the transaction. Mitchell Konsker, Scott Cahaly and Kyle Young of Jones Lang LaSalle represented Savanna.
"We are very pleased to welcome LSK&D to 100 Wall Street," said Kevin Hoo, vice president at Savanna. "Since acquiring the property in 2011, we have invested in improving the base building infrastructure while also adding resiliency since Superstorm Sandy by moving critical life safety, electric switch gear and telecommunications equipment to the second floor. We have attracted a diverse mix of high-quality tenants and are proud to welcome LSK&D, one of the nation's premier litigation firms, to their new home."
Constructed in 1969, 100 Wall Street is a beautiful Class A glass and steel building with a world renowned location and address. Its efficient design, with an abundance of light and air on all sides, has led to significant leasing success to date.
"Not only does 100 Wall Street offer a highly prestigious address, but the space itself is remarkable," said Michael E. McDonagh, Esq., Managing Partner of LSK&D. "In addition to being perfectly situated to accommodate our continued growth and long-term goals, we'll also enjoy bridge and water views from a beautiful, modern office space."
Savanna has also designed and delivered several rounds of high-quality pre-builts at the building that have helped define the quality and standard for smaller space leasing, which accounts for the majority of lease activity in Manhattan and Downtown. As a result, 100 Wall Street has become a destination office location for a wide variety of tenants including James W. Giddens, Aflac, and El Al Israel Airlines, Ltd.
With the LSK&D lease, Savanna has completed approximately 300,000 s/f of leasing at the building since November 2011, bringing occupancy from 72% to nearly 90% today.
"Our team has completed a significant amount of leasing at the property over the past 24 months, and more than half of the space leased has been built by Savanna," said Cahaly. "Savanna has established a high level of credibility in the market place, which ultimately enabled LSK&D's executive committee to trust that the premises will be built on time and within budget." Tags: