Once featuring a mahogany, cigar-store American Indian, the halls of a Greenwich office mark will soon be populated by hedge fund managers.
Antares Investment Partners continues renovation work on 100 W. Putnam Ave., late the home of UST Inc. before its relocation last year to Stamford. Antares spent $130 million for 100 West Putnam, which is north of the Greenwich Avenue shopping district; earlier in January, Antares apparently divested a portion of that mortgage to a Boston firm (see related story on pg. 1)
Once adorned with the tobacco and wine company”™s artifacts, it is anyone”™s guess how the building”™s new tenants have any knickknacks for display. To date, Antares has revealed the leasing of 44,000 square feet to Plainfield Asset Management L.L.C. and Strategic Value Partners L.L.C.
Founded in 2005 by Max Holmes, a former D.E. Shaw & Co. managing director, Plainfield already has more than 120 employees at last report at its current 55 Railroad Ave. address in Greenwich.
Strategic Value Partners, which is at 80 Field Point Road in Greenwich, is taking an identical amount of space as Plainfield at roughly 44,000 square feet.
Antares has yet to reveal tenants for the top floor at 100 West Putnam, which has 45,000 square feet of space. With a café and fitness center, the ground floor has just 15,000 square feet of space.
Despite some asking rents in excess of $100 per square foot, Greenwich continues to be an irresistible draw for deep-pocketed tenants. Last year the owners of Greenwich”™s 50 class-A office buildings leased 750,000 square feet of space, according to Cushman & Wakefield of Connecticut Inc., though transactions representing just 100,000 square feet occurred in the fourth quarter. In all, a net gain of 450,000 square feet of class A space was absorbed, giving the town a vacancy rate of about 6 percent.
Projections is a new feature providing updates on construction and renovation projects planned in the region.
