The deal was announced by Hines, which represented the building owner National Office Partners Limited Partnership, a partnership of the California Public Employees' Retirement System and Hines. Nick DeLuca and Bob Gillon of R.S. Silver & Co.LLC of Darien represented Hitachi Credit America in the transaction.

Hitachi signed a lease for a 12-year term at the 400,000-sf office building located on 15 acres at 800 Connecticut Ave. The firm has maintained operations in Greenwich for the past 14 years.

"While our Greenwich location has served us well, the changing focus of our business and the need to hire more staff caused us to look at other options," William H. Besgen, COO of Hitachi Credit says of the new lease deal. "The Norwalk area provides a more convenient commute for many of our employees. The Class A services and facilities provided by Hines along with the potential ability to take on more space as we continue to grow, were reasons for selecting RiverPark."

Hines officials noted that the Hitachi Credit lease deal marks the start of Hines' "repositioning and releasing strategy" for RiverPark.

Frank Saphire, group manager of Hines, says, "Historically, RiverPark has been home to only a few large tenants. Former tenant Georgia Pacific's relocation to Atlanta allowed us to reposition the property as a quality, economical option for single-floor or smaller tenants looking for the amenities of a Class A campus environment."

Over the past three years, Hines has spent approximately $3.5 million in renovations to RiverPark, including a complete redesign of the building lobby and upgrades to the elevators, HVAC and energy management systems.

R.S. Silver's DeLuca notes that Hitachi Credit's search for new space included review of properties from Greenwich to Westport, before deciding on RiverPark as its new location. He said the firm, which employs approximately 75 workers, is scheduled to move to its new Norwalk address by February 2004.