“Oxford currently has an office in midtown but will vacate their current location and relocate to 5 Hanover,” Andrew Kurd, an analyst at Savanna, noted “[It] will be the tenant’s only New York City presence.”
As a commercial venture with Oxford University’s business program, Oxford Economics was created in 1981 and provides global economic, industry and business analysis. The firm is based out of Oxford, but employs over 70 professionals in the United Kingdom as well as in Belfast, New York, Philadelphia, UAE and Singapore.
The firm will take a 4,970 square foot office in 5 Hanover Square.
“5 Hanover is an ideal location for a tenant looking to be in the Financial District, as it is centrally located right off Stone Street,” Mr. Kurd also noted, “Additionally, tenants have commented on the quality of the lobby and the finishes that Savanna provides.”
Michael Duncan of Abraham and Martin represented the tenant in this transaction and Frank Cento and Jonathan Fein of Cushman & Wakefield represented Savanna.
Savanna acquired the property from Swig in 2010 for $46 million. The firm also owns notable buildings such as 31 Penn Plaza, 100 Wall Street, 80 Broad Street.