FM Buys Former IGT Headquarters in Providence
GoLocalProv
FM Buys Former IGT Headquarters in Providence
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 in January.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST
The building was previously the headquarters of IGT — the gaming company. IGT was split, and portions of the company have been renamed Brightstar.
“This investment reflects FM’s confidence in Rhode Island and our commitment to creating spaces that attract world-class talent and strengthen client relationships,” said Randy Hodge, chief operating officer of FM, the insurance company. “FM has been proud to call Rhode Island home for nearly 200 years, and this expansion in the state’s capital is a natural choice for our next chapter of growth.”
Regionally, FM’s real estate expansion along Amtrak’s East Coast corridor includes newly leased space in Boston’s South Station Tower and the company’s plans to open the FM Science and Technology Center, Americas, in Norwood, Massachusetts, in 2026, said the company.
The building was last sold in April of 2012 for $51,500,000.
The company would not answer how much it paid for the building or how many employees would work at the location.
The building has more than 200,000 square feet of offices and some limited retail, as well as more than 100,000 square feet of parking underground.
“This sizable investment by one of Rhode Island’s largest private employers will enhance FM’s regional connectivity, foster collaboration, and improve access to top talent and client partners. From its founding in 1835 to today’s global footprint, FM’s roots in Rhode Island remain deep and enduring,” FM said in the announcement.