Playing to Win: Hasbro Pulls Up Stakes for Boston HQ

Toy and game company Hasbro is moving its headquarters to the Boston Seaport District from its longstanding location in Pawtucket, Rhode Island. Hasbro was founded in that city in 1923.

The company will occupy 265,000 square feet across seven floors of 400 Summer St., a building recently completed by WS Development. The structure, designed by Morris Adjmi Architects of New York City, is LEED Platinum and includes about 30,000 square feet of retail.

Upon completion of 400 Summer Street last year, biotech specialist Foundation Medicine held a lease on most of the space at the office tower that runs through 2038.

With the hit that the biotech industry has taken since then, however, Foundation decided to sublease much of its space to Hasbro. By the end of 2026, according to Hasbro, some 700 full-time employees will move into the building. The new location will be headquarters for Hasbro’s toys, board games and licensing businesses, and most of its corporate services.

The move makes Hasbro eligible for Economic Development Incentive Program tax credits of $20,000 per job relocated to Massachusetts, according to the commonwealth’s Executive Office of Economic Development. If indeed 700 Hasbro jobs move to Massachusetts, the tax credits could amount to roughly $14 million in the next few years.

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Hasbro is well known as a purveyor of toys, games and other amusements, including such high-profile brands as Monopoly, Nerf, Transformers, Play-Doh, Dungeons & Dragons and Peppa Pig. The company also develops and produces film, television, animation and digital content.

The game- and toymaker will continue to maintain a major location in Renton, Wash., as the headquarters of its gaming and digital business, including such franchises as Magic: The Gathering and Dungeons & Dragons, as well as Hasbro’s digital gaming and technology operations. The company occupies 111,000 square feet at its West Coast location.

Boston’s office market

With the return-to-office trend gathering steam, so has activity in the Greater Boston office market, though leasing demand has been uneven in recent quarters. This year, the Boston office market recorded a negative second quarter absorption of 143,900 square feet, a 186,000-square foot increase quarter-over-quarter.

In the second quarter of 2025, the Boston office market enjoyed over 3.9 million square feet of leasing demand, CBRE reported. That was a decline compared to the first quarter, which recorded 4.1 million square feet of demand, the highest level in nearly four years.

Sublease availability—which Hasbro was able to take advantage of—continued to decrease for the seventh consecutive quarter, CBRE reported. Sublease availability now totals nearly 3.5 million square feet, or 4.2 percent of total availability.