Electronics giant leases 44,000 s/f at state-of-the-art Summer St.Benenson Capital Partners, owner and manager of 1600 Summer Street in Stamford, announced Philips Electronics N.A. signed a long-term lease to occupy the entire fifth floor, totaling 47,140 s/f, of the six-story ClassA office property. The new location will serve as one of a half dozen U.S.-based hubs for Philips. Philips Domestic Appliance domestic appliance domestic n → appareil ménager & Personal Care North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , which includes Philips' Norelco, Sonicare, SENSEO, Babycare and Heartstart brands, will move from 1010 Washington Blvd. in Stamford. The company also has the option to lease expansion space. The move to 1600 Summer Street is projected to take place in March 2007 Said Bob Baird, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Philips DAP NA, "1600 Summer Street offers state-of-the-art facilities that mirror Philips innovative mindset mind·set or mind-set n. 1. A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations. 2. An inclination or a habit. so it is a perfect operational fit." "Philips is one of the world's most progressive, innovative companies and we are delighted to add them to the tenant roster at 1600 Summer Street," said Lawrence B. Benenson, executive partner of the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based privately owned real estate investment and management firm who, with his brothers Bill and Fred, oversees Benenson Capital Partners. "We had a superb relationship with Philips throughout the negotiation process and worked cooperatively to ensure that both sides benefited from the transaction." "1600 Summer Street has enormous appeal for tenants because of the superb location, large floorplates, exceptional value and unparalleled tenant amenities," said Richard A. Kessler, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Benenson Capital Partners. "The property is ideal for a corporate headquarters or for multi-tenant use." A major multi-million dollar interior and exterior capital improvement program at 1600 Summer Street is underway and will be completed by early next year. The redevelopment marks the first total makeover for the 270,000 square feet property since it was built by Benenson in 1980. Earlier this year, Benenson launched a major marketing initiative to re-lease the entire six-story office property following GE Capital's plans to relocate from the building. Philips joins Aon as part of 1600 Summer Street's all new tenant roster. "Now that renovations are in progress and one can visualize the transformation, the level of interest we are receiving from tenants in the market for space is at an all time high," said Shaun Henderson, Benenson Capital's director of leasing for 1600 Summer Street. "This is one of the finest assets in Fairfield County Fairfield County is the name of three counties in the United States:
Philips Electronics N.A. was represented by Mitchell S Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. . Konsker, executive vice president and Gerry E. Lees, senior director, of Cushman & Wakefield. Fred Smith Fred Smith may refer to:
"Very simply, 1600 Summer Street met all of Philips' requirements," said Lees. |
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