BOSTON–Rhode Island-based property insurer FM has leased about 50,000 square feet of office space at South Station Tower, making it the second tenant confirmed for the skyscraper ahead of its completion later this year, Boston Business Journal reported.
“The roughly 50,000 square feet will complement FM’s Norwood campus, currently undergoing redevelopment,” BBJ said. “The deal gives Hines, the developer of the 51-story mixed-use tower, another tenant in addition to the law firm Jones Day, which is taking 41,000 square feet. That leaves nearly 600,000 square feet in a muted office market with few large tenants on the lookout for space. The project is scheduled to finish in mid-2025.”
“This new lease will provide additional modern office space for our existing Boston-based employees and complement FM’s broader strategy to increase our presence in key cities around the globe,” BBJ quoted FM saying in a statement.
FM will have a much larger new space on Route 1 in Norwood, once a four-story, 320,000-square-foot complex opens in 2026. The insurer is replacing a 1950s-era building on its property, added BBJ.
South Station Tower will feature 166 Ritz-Carlton condos on its top 16 floors, according to the BBJ.
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