Limelight Networks has signed an eight-year, 4,071-square-foot lease for a portion of the fifth floor at Savanna’s 100 Wall Street, The Commercial Observer has learned.
The new lease follows on the heels of an announcement in October that El Al Airlines, the national airline of Israel, had signed a 10-year, 14,918-square-foot lease on the fourth floor at Lower Manhattan property.
Savanna has recently installed brand new chillers and performed cosmetic lobby upgrade and elevator repairs at the property. Additionally, the real estate private equity firm has relocated the critical life and safety systems and electric switch gear at the property from the basement to the second floor.
“This has significantly enhanced the property’s resiliency in the event of future Hurricane Sandy-like reoccurrences, reducing downtime from a matter of weeks to days,” Mr. Hoo said in an emailed statement.
Due to expected recent turnover, the occupancy rate at 100 Wall Street has dipped from 91 percent to 80 percent. The 29-story, 519,000-square-foot office building was built in 1969 and renovated in 2004.
Mitchell Konsker and Scott Cahaly of Jones Lang LaSalle represented the landlord in the leasing transaction. Stephen Bellwood and Jordan Weiss of Cassidy Turley represented the tenant.