Lease Beat

Savanna Welcomes Mobotix to 80 Broad Street

80 Broad Street.

German-based Mobotix Corp. will be leaving its office at 415 Madison Avenue and moving downtown to Savanna‘s 80 Broad Street, officials told The Commercial Observer.

Enlisting the help of CBRE‘s David Young and Scott Sloves as brokers, the leading video security software company will take a 7,840-square-foot space on the seventh floor of 80 Broad Read More

Lease Beat

LearningExpress Leases Space at 80 Broad Street

80 Broad Street, (photo: nest seekers).

Early last week, the online career and academic resource library, LearningExpress LLC, signed a three year, 8,695-square-foot lease at 80 Broad Street. Asking price was $32 per square foot, said Todd Korren, principal and director of leasing with the landlord, Savanna.

“80 Broad is a fully renovated building with redundant telecommunications infrastructure, 24/7 manned security, Read More

Lease Beat

Jones Jones Renews and Expands at 5 Hanover Square

The defense law firm Jones Jones has doubled its space at 5 Hanover Square.

The firm initially moved into Savanna’s building last August, taking 4,985 fee,t and has negotiated a deal to increase its space in a 9,215-square-foot custom office on the 10th floor.

“The space was recently constructed with views of Hanover Park and Read More

Lease Beat

Legal Solutions Group Expands at 80 Broad Street

Courtesy of Nest Seekers

Legal Solutions Group, LLC has inked a new deal with Savanna for its office in 80 Broad Street.

Founded by Gary Markham in 2005, the company has grown from a small bill review service into a business processing outsourcing and software company. The company provides litigation management products, service solutions, and performance tools and has Read More

Lease Beat

McGivney and Kluger Expand at 80 Broad Street

Courtesy of NYRej

McGivney and Kluger have inked an expansion deal on their lease at 80 Broad Street.

The insurance defense firm started in 1994 as a small law firm in Florham Park, New Jersey. It has since opened twelve offices across the nation in metropolitan regions such as Boston, Philadelphia, Fort Lauderdale, Syracuse, San Francisco, and, of Read More

Sales Beat

Savanna Acquires Fifth Avenue Jewel Following Default

576 Fifth Avenue.

Real estate investment firm Savanna has acquired 576 Fifth Avenue after first taking the property’s defaulted first mortgage in February. According to statement from Savanna, it will pour millions of dollars into the building as part of a capital improvement program.

The 72,000-square-foot office building is located on the corner of Fifth Avenue and 47th Street. Its roster of current tenants sparkles with the likes of Diva Diamonds, Carats by Stacey and Optimum Diamonds.

According to sources, up until last week the previous owner of the leasehold was Western Management, which couldn’t be reached for comment. That previous owner consented to relinquishing the building to Savanna. Read More

The Sit-Down

Sweet Home Savanna

Mr. Korren joined Savanna in September

Since taking the reins as leasing director and a partner at Savanna last month, Todd Korren has applied his 27 years of experiences as a developer, leasing agent, property manager and real estate executive to the real estate private equity firm’s three million-plus square feet of property. The former Swig Equities senior vice president, 47, spoke last week with The Commercial Observer about his new role at Savanna, his continued confidence in Lower Manhattan and assets such as 100 Wall Street and 31 Penn Plaza. Read More

The Downtowner

At one time or another during his 25-year career, Todd Korren has donned nearly every hat that can be worn in the real estate industry. But whether he’s served as a leasing agent, property manager, developer or acquisitions pro, one puzzle the Swig Equities senior vice president has yet to solve is the Read More