X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORWALK, CT-In an expansion and relocation move, Hitachi Credit America will relocate its offices from 777 West Putnam Ave. in Greenwich to 28,950 sf of space at the RiverPark office complex here. The firm currently leases approximately 13,000 sf at its Greenwich location.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.