Savanna has entered into a contract to acquire 1375 Broadway from Westbrook Partners for $435 million, TRD reported. The Garment District office building spans roughly 500,000 SF.
- Worth Noting: Accounting firm Anchin, Block & Anchin occupies roughly 120,000 square feet on a lease that expires in a few years, which will allow for a renewal at a higher rate or a new tenant. The deal will be Savanna’s first acquisition out of its newest real estate fund.
- Ironic Flashback: Westbrook purchased the property from Savanna for $310 million in 2015. The 27-story building is located between West 37th and West 38th Streets.