{"id":1004788845,"date":"2026-02-20T06:59:56","date_gmt":"2026-02-20T14:59:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004788845"},"modified":"2026-02-20T06:59:59","modified_gmt":"2026-02-20T14:59:59","slug":"fm-global-pays-69m-for-providence-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/","title":{"rendered":"FM Global Pays $69M for Providence Office Building"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004788849\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/10-memorial-blvd-in-providence-ri-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"10 Memorial Blvd. in Providence, RI\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The property rises 10 stories.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\" alt=\"Exterior shot of 10 Memorial Blvd., a 250,000-square-foot office building in Providence, R.I.\" class=\"wp-image-1004788849\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">The office property at 10 Memorial Blvd. was formerly dubbed the IGT Center. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Property insurer company FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. The firm paid $68.5 million for the asset, <a href=\"https:\/\/pbn.com\/insurer-fm-buys-10-story-memorial-blvd-building-for-68-5m-expanding-into-providence\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><em>Providence Business News<\/em> reported<\/a>.<\/p>\n\n\n\n<p>Tritower Financial Group previously owned the property since 2018, when the company bought it from R.J. Kelly Co. for $71 million, according to Yardi Matrix information. Rockland Trust Co. issued a $46.2 million loan for that acquisition.<\/p>\n\n\n\n<p>FM has had its headquarters in the state of Rhode Island since its founding in 1835. The acquisition is part of a recent expansion on FM\u2019s part along Amtrak\u2019s East Coast corridor. This expansion also includes newly leased space at Hines\u2019 51-story South Station Tower in Boston.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-downtown-providence-asset\">A downtown Providence asset<\/h2>\n\n\n\n<p>Completed in 2006, the 10-story office building features 28,500-square-foot floorplates, 10,500 square feet of ground-floor retail space and seven passenger elevators. The tenant roster includes Fidelity, The Koffler Group and The Virtus Group, Yardi Matrix data shows. The new ownership also plans to occupy a portion of the office space at the property.<\/p>\n\n\n\n<p>The asset was previously dubbed the IGT Center, after the International Game Technology firm\u2014which rebranded to Brightstar Lottery in 2025. Though the building opted for an address-name, Brightstar Lottery remains one of the tenants in the property&#8217;s roster, <em>The Providence Journal <\/em>wrote.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">Office Real Estate Trends<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The office property on Memorial Boulevard is close to U.S. Route 1 and Interstate 95, within 1 mile of downtown. Additionally, the mid-rise is across the road from Providence Place Mall, a 1.2 million-square-foot shopping center spanning a 16-acre site. The Providence train station is 0.3 miles north.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tritower-financial-s-recent-activity\">Tritower Financial&#8217;s recent activity<\/h2>\n\n\n\n<p>Last year, Tritower Financial Group entered several joint ventures in order to complete a number of office building acquisitions. Namely, in February 2025, Shorenstein Investment Advisers and Tritower <a href=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-jv-pays-96m-for-boston-rd-campus\/\">paid $96 million for The Xchange<\/a>, a 480,000-square-foot office and R&amp;D complex in Bedford, Mass. A few months later, in July, together with Live Oak Real Estate Investments, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/live-oak-jv-buys-boston-office-asset\/\">purchased One Bowdoin Square<\/a>, a 141,831-square-foot office building in Boston. <\/p>\n\n\n\n<p>Over the course of 2025, office building sales across the U.S. amounted to $53 billion, with assets trading at an average price of $192 per square foot, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-as-vacancy-eases-coworking-bridges-the-gaps\/\">recent Yardi Matrix report<\/a>. Except for Manhattan\u2014which ranked highest in the U.S. with the largest investment sales figure throughout last year, at $7.8 billion\u2014the other major metros in the northeastern region seemed scattered across Yardi Matrix&#8217;s Top 30 list. Boston recorded $1.6 billion in sales volume, while Philadelphia ranked closer to the end of the list, with a total figure of $678 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has been headquartered in the state since its founding in 1835.<\/p>\n","protected":false},"author":3619,"featured_media":1004788849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,10,21747],"tags":[38039],"class_list":["post-1004788845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-northeast","category-office","tag-tritower-financial-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FM Global Pays $69M for Providence Office Building - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FM Global Pays $69M for Providence Office Building\" \/>\n<meta property=\"og:description\" content=\"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-20T14:59:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-20T14:59:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/\",\"name\":\"FM Global Pays $69M for Providence Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\",\"datePublished\":\"2026-02-20T14:59:56+00:00\",\"dateModified\":\"2026-02-20T14:59:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg\",\"width\":640,\"height\":480,\"caption\":\"The property rises 10 stories.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FM Global Pays $69M for Providence Office Building\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\",\"name\":\"Maria Maruta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"caption\":\"Maria Maruta\"},\"description\":\"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"FM Global Pays $69M for Providence Office Building - Commercial Property Executive","description":"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/","og_locale":"en_US","og_type":"article","og_title":"FM Global Pays $69M for Providence Office Building","og_description":"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2026-02-20T14:59:56+00:00","article_modified_time":"2026-02-20T14:59:59+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg","type":"image\/jpeg"}],"author":"Maria Maruta","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/","url":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/","name":"FM Global Pays $69M for Providence Office Building - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg","datePublished":"2026-02-20T14:59:56+00:00","dateModified":"2026-02-20T14:59:59+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df"},"description":"FM Global has purchased the 250,000-square-foot office building at 10 Memorial Blvd. in Providence, R.I. for $69 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg","width":640,"height":480,"caption":"The property rises 10 stories."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/fm-global-pays-69m-for-providence-office-building\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"FM Global Pays $69M for Providence Office Building"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df","name":"Maria Maruta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","caption":"Maria Maruta"},"description":"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/10-Memorial-Blvd.-in-Providence-RI-edited.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004788845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3619"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004788845"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004788845\/revisions"}],"predecessor-version":[{"id":1004788936,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004788845\/revisions\/1004788936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004788849"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004788845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004788845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004788845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}