Entertainment and Design Studio Takes New Lease at 80 Broad
Lauren Elkies Schram May 23, 2014, 11:08 a.m.
Imaginary Forces, an entertainment and design studio, has signed a new 10-year lease for 11,250 square feet on a portion of the 20th floor of 80 Broad Street, Commercial Observer has learned.
Hal Stein, Todd Stracci and Adam Leshowitz of Newmark Grubb Knight Frank represented the landlord, Savanna, in the deal while Scott Brown of Newmark represented the tenant.
IF’s award-winning work includes feature film production, entertainment marketing and promotion, corporate branding, architecture, advertising and interactive media. IF’s recent work includes identity packages for Spike TV, USA Network, Lifetime and MTV, as well as broadcast advertising for Nike, Sears, Toyota, Pontiac, Smirnoff and Lexus.
A series of leases have helped nearly fill the building to capacity in recent months. Most recently, early this month, Brand Learning signed a new seven-year, 4,765-square-foot lease in the building, as Commercial Observer previously reported. In March, nonprofit Revenue Watch Institute signed a seven-year lease for a 7,255-square-foot portion of the 18th floor at the building and Indus Architect signed a seven-year, 2,240-square-foot deal.
Savanna acquired the 36-story, 410,000-square-foot 80 Broad Street from Swig Equities in 2011 after taking control of the property’s senior mortgage. Swig had acquired the building for $70 million in 2004. The brick masonry building was constructed in 1930 and Savanna recently refurbished the property with renovated elevators, building systems and an improved lobby
Savanna declined to provide the asking rents.