Investment Firm Signs 61,177 SF Lease in Greenwich

GREENWICH, CT-Ziff Brothers Investments LLC, has signed a 15-year lease for 61,177 sf of space at 55 Railroad Ave. here, according to officials with Hines, a partner in the ownership of the four-story, 132,000-sf building.

The deal brings 55 Railroad Ave. to full occupancy and marks the successful completion of Hines’ renovation and repositioning of the property, Hines officials note. The building is owned by National Office Partners Limited Partnership (NOP), a partnership of the California Public Employees’ Retirement System (CalPERS) and Hines. Marcus Rayner of CRESA Partners and Amy Lerner and Barbara Holdgrafer of AMBAR Realty Group represented Ziff Brothers in the transaction. Hines represented the owner. Other tenants at the building are Viking Global Investors, Tontine Associates, ABS Investment Management and Axiom International Investors.

In April 2002, the building ownership announced that work had begun on a $6 million renovation to the 55 Railroad Ave. property. The program was completed last year, during which time a number of tenants moved out of the building, including Boardroom Reports and AON, an insurance firm.