US EditionFm Insurance Buys Prominent Providence Office Tower
FM Insurance paid $68.5 million for the 202,000-square-foot office building to expand its regional presence and maintain a multi-tenant profile, officials said.
- FM Insurance announced yesterday that it bought 10 Memorial Boulevard, a 10-story, 202,000-square-foot downtown Providence office building for $68.5 million and a long-term ground lease.
- FM framed the acquisition as part of a broader expansion strategy, including leased space in Boston's South Station Tower and plans for an FM Science and Technology Center in Norwood, Massachusetts.
- Records show the building traded for $71 million in 2018 and is part of the Capital Center redevelopment, with Brightstar remaining the anchor tenant.
- FM plans to occupy part of the building while preserving current tenants, with Randy Hodge, chief operating officer of FM, saying 'This investment reflects FM's confidence in Rhode Island and our commitment to creating spaces that attract world-class talent and strengthen client relationships.'
- With roots nearly two centuries old, FM says the Rhode Island expansion is a natural next chapter, aiming to strengthen regional ties and support downtown growth, said Randy Hodge.
27 Articles
27 Articles
FM acquires prominent IGT office tower in downtown Providence - The Boston Globe
The investment is part of the insurer's expansion strategy. FM recently leased space in Boston’s South Station Tower, and plans to open the FM Science and Technology Center, Americas, in Norwood, Mass.
PR Newswire
FM Announces Investment and Expansion in Downtown Providence with Purchase of 10 Memorial Boulevard
/PRNewswire/ -- Rhode Island-headquartered commercial property insurer FM today announced the purchase of 10 Memorial Boulevard, a 10-story premier commercial...
FM buys IGT building in downtown Providence for $68.5M • Rhode Island Current
FM is buying the IGT building in downtown Providence for $68.5 million. (Photo by Christopher Shea/Rhode Island Current)Johnston-based insurance giant FM announced Thursday that it is buying the downtown Providence building that houses the state’s lottery contractor formerly known as IGT, Fidelity Investments Inc. and The Capital Grille The $68.5 million purchase of the 10-story glass and metal building overlooking the Providence Place mall and…
Coverage Details
Bias Distribution
- 64% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
