The Teachers Insurance and Annuity Association-College Retirement Equities Fund, a financial services organization, is taking over 1,200 SF of space on the ground floor of the Commerce Park II building at 2049 E. Joyce Blvd. in Fayetteville.
Garver, an engineer consulting firm, is refurbishing the remaining 4,040 SF of the 63,000-SF building to expand. Garver already takes up the top floor of the four-floor building.
The radio station Magic 107.9 is a first-floor tenant, while Blackhive, a trading company, and Blkbox Labs, a marketing and branding partner, share the second floor. TIAA is currently remodeling the space it will occupy and will move in when the work is finished.
The building, owned by TAM Investments LLC, led by Tommy Muccio, is now 100 percent occupied, or will be when move-ins are completed.
Muccio, of Springdale, bought the 2.5-acre development for $10.135 million in December 2008 from Chambers Bank of Danville, which had picked up the property the previous month in foreclosure and fully financed the purchase.