NEW YORK CITY—Savanna has sold 80 Broad St., a423,000-square-foot office building in Lower Manhattan, to BroadStreet Development for $173 million. Adam Spies, Douglas Harmon,Joshua King and Adam Doneger of Eastdil Secured represented Savannain the sale. Attorneys Leo Leyva, Jordan Metzger and Tara Ryan ofCole, Schotz, Meisel, Forman & Leonard P.A. served as theseller's counsel.

After acquiring the property in 2011, Savanna completed acomprehensive capital improvement program including a lobbyrenovation, façade upgrade, modernized elevators, and upgrades tothe common area bathrooms and corridors. Savanna also investedsignificant capital to complete valuable work following HurricaneSandy, protecting the building against future weather relatedrisks. This effort included the relocation of critical systems suchas electrical switchgear, fire alarm systems and security systems,from the basement to higher floors.

Working with the leasing team of Hal Stein, Adam Leshowitz andTodd Stracci of Newmark Grubb Knight Frank, Savanna leased a totalof 270,000 square feet at the property during itsownership.