Center 78 is a 369,797 square foot, four-story office building with direct access to Interstate 78. The building served as an AT&T (and later Lucent Technologies) facility for over twenty-five years before becoming vacant. The defaulted senior mortgage was acquired at a discount to par value and completed a deed-in-lieu of foreclosure transaction to gain control of the real estate from the borrower. The building was redeveloped into a first-class property, including the installation of a new, four-story glass entry atrium, new bathrooms, a full-service café, fitness center, new roof and mechanical equipment. Since its acquisition, the occupancy increased to 90% by attracting credit tenants including Dell-EMC, Fiserv, UBS, Continental Casualty Company and GlaxoSmithKline’s Consumer Healthcare North American headquarters.