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GREENWICH, CT-Saying it has achieved the milestone a full year ahead of schedule, Antares Investment Partners reports the former US Tobacco headquarters here is leased up. Antares, which has said it will put a total of $30 million in capital improvements to the four-story, 154,000-sf building, acquired the property in February 2007 for $130 million.

While the firm refused to divulge its latest lease signing, previously Strategic Value Partners inked a deal for 40,000 sf at 100 West Putnam Ave. and Plainfield Asset Management reportedly agreed to lease approximately 60,000 sf at the property.

“100 West Putnam, acquired just 12 months ago at well below replacement cost, will produce the highest cash flows per foot of any commercial office building in the United States,” Antares managing partner Joseph Beninati says. He adds that Antares has put in place long-term debt with low and stable rates. The nearly $16 million of property cash flow will produce approximately two times the annual interest cost at 100 West Putnam, he says.

The property is being completely redeveloped with a four-story glass atrium and lobby designed by architects Perkins Eastman, explains John Wheeler, president of the Antares investments and services division. He adds that the capital improvements completed thus far are ahead of schedule.

“I grew up working at this property during summer jobs, and to see its rebirth as the most architecturally distinctive and sought-after office building in town is really a testament to how attractive Greenwich has become as a place to both live and work,” notes Antares co-founder and long-time Greenwich resident James Cabrera.

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