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STAMFORD, CT-The ownership of 1600 Summer St. here reports that it has signed a long-term lease with Philips Electronics NA for 47,140 sf. The firm will relocate operations it currently has at the local 1010 Washington Blvd. by March 2007.

The 1600 Summer St. building, owned by Benenson Capital Partners of New York City, will serve as a base of operations for a number of Philips brands. Philips Domestic Appliance & Personal Care North America, which includes Philips’ Norelco, Sonicare, Senseo, Babycare and Heartstart brands, will be shifting operations from approximately 37,000 sf it leases on Washington Boulevard to the entire fifth floor of the Summer Street property.

The deal was handled exclusively by Cushman & Wakefield. Mitchell S. Konsker, executive vice president, and Gerry E. Lees, senior director, represented Philips. Fred Smith, executive director, Trip Hoffman, director, and Jodie Dostal, associate director, spoke for building ownership

The 270,000-sf building had been fully occupied by GE Capital, which is vacating the space and moving to 777 High Ridge Rd. In July, Aon Corp., announced it was relocating its reinsurance, risk management and consulting business from Greenwich to 42,000 sf at 1600 Summer St. Benenson has initiated a $15-million renovation program to convert the property to multi-tenant use.

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