Hines, the Willet Cos. and Warren Private Clients purchased the building, which serves as the North American headquarters for Unilever's Home & Personal Care business, in June 2005 for $87.5 million in a sale-leaseback deal with Unilever. In 2006, Unilever announced it would relocate operations from the Greenwich building to properties in Trumbull and Englewood Cliffs, NJ. The relocation is expected to begin later this year.

C&W officials say that a multimillion renovation of 33 Benedict Place will take place over the next year. The improvements, designed by Roger Ferris + Partners, will include upgrades to the main entry, garage entry, main lobby, common corridors and restrooms as well as a number of new amenities.

Jay S. Hruska, executive vice president of C&W, will work with Hines VPs Frank Saphire and Bart Swenson on a marketing campaign they say will focus primarily on financial services firms. "The renovation and refurbishment of 33 Benedict Place will reposition this property into the most coveted address in the area," Hruska says. "We are already attracting a significant amount of interest from a number of local and regional tenants in the market for high-end office space."

C&W and Hines officials expect the property to secure the highest office rents in Fairfield County. "33 Benedict Place will provide discerning tenants an upscale space alternative in an extremely tight real estate market," says Saphire. Swenson adds, "The acquisition of 33 Benedict Place was an exceptional investment opportunity to purchase a class A asset in a high demand submarket with one of the lowest vacancy rates in the county. The property will thrive as either a headquarters location or for multi-tenant office use."