Durham firm departing top floor of Chase Tower

Tim Durham’s Obsidian Enterprises Inc. plans to vacate the top floor of the state’s tallest building next month,
real estate sources say.

The leveraged-buyout firm subleases the 48th
floor of downtown’s Chase Tower from JPMorgan Chase & Co. but hasn’t
paid rent for a couple of months and has agreed to give the space back.

Obsidian has been closed since Nov. 24, when FBI agents converged on the office and seized documents and computers. Agents
simultaneously raided another Durham company: Akron, Ohio-based Fair Finance Co.

Federal prosecutors alleged
in a court filing that day that Fair operated as a Ponzi scheme, using money raised
from selling investment certificates to pay off earlier investors.

Durham could not be reached for comment this morning.

Obsidian was
committed to the space until 2020, when Chase’s lease as anchor tenant comes up. It
signed the sublease in 2002, a short time after the bank moved its executives offices to a lower floor.


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