Hasbro Moving Headquarters To The Seaport: The Boston Deal Sheet
One of the largest toy companies in the world has chosen Boston as its new home.
After a year of back-and-forth discussions around the potential relocation from its longtime home in Providence, Hasbro Inc. announced Monday it will move into a 265K SF space at WS Development's 400 Summer St. office building in the Seaport.
“Boston’s thriving business community, deep academic partnerships and cultural vibrancy, together with our Seattle team’s leadership in technology, creativity, and innovation, give Hasbro an unparalleled foundation for growth,” Hasbro CEO Chris Cocks said in a statement. “Together, these offices will fuel the next chapter of Hasbro.”
The new office will be home to at least 700 full-time employees who are expected to transition from Rhode Island to Boston by the end of 2026.
Hasbro floated the idea of moving to the Bay State this time last year, looking at areas in Dorchester and near South Station for space. But executives paused the search in the spring as they sought to gain more clarity around the Trump administration's tariff policies.
The lease comes as a win for the city as its office sector continues to recover and massive leases like Hasbro's have become a rarity.
"We are thrilled that Hasbro has chosen Massachusetts as the home of its new headquarters, and we're ready to support the hundreds of jobs they will create here," said Governor Maura Healey.
SALES
The Hennick Group acquired the Mandarin Oriental Retail Collection in the Back Bay for $83M, the company announced Thursday. The retail sits on the ground floor of the Mandarin Oriental Hotel and in the Prudential Center complex. It has 150 feet of frontage on Boylston Street, including a Citizens Bank location.
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The six-story office building at 95 Berkeley St. in the South End sold on Thursday to an affiliate of New York-based investment manager Aden Capital Management, according to deed records. The firm acquired the building from Los Angeles-based CIM Group.
CIM filed plans to turn the office building into 92 apartment units in April, with 18 of the units designated affordable. The units will take up 80K SF, with the rest of the 98K SF building dedicated to ground-floor retail.
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Burlington-based landlord R.J. Kelly Co. acquired a 187K SF office building in Boston's West End neighborhood for $24M, according to public records. Seller Rockpoint Group paid $107M for the office building in 2018, the Banker & Tradesman reported. The building is home to Tripadvisor and the Boston Celtics' front office.
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Berkeley Investments sold a 73-unit Jamaica Plain apartment complex for $37.8M, according to public records. The property includes Drawdown Brewery on its ground floor. The firm acquired the development site at 3200 Washington St. for $6.2M in 2016 and built the project in 2019. An affiliate of Fidelity Core Real Estate Operating Partnership purchased the property. CBRE’s Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller and procured the buyer.
LEASES
Venture capital dental company Perceptive signed a nearly 20K SF lease at Synergy's 179 Lincoln St. in downtown Boston. The company signed the lease after it received roughly $30M in venture capital funding earlier this year, the B&T reported. Savills’ Ron Perry, Matt Perry and Juliette Pucci represented Perceptive in the lease negotiations.
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ConnectPay signed an 18K SF lease at 15 Hampshire St. in Mansfield. Savills' Steve Woodworth and Mitch Kumin represented Medtronic, and R.W. Holmes' Elizabeth Holmes and Dean Blackey represented the tenant.
PERSONNEL
JLL named Jon Bryant and John Flaherty as co-leads of the company's New England Multifamily Investment Sales and Advisory team. The two come from Cushman & Wakefield and join JLL as managing directors. The duo has been involved in nearly $10B of commercial real estate transactions throughout their careers.
CONSTRUCTION & DEVELOPMENT
A building permit has been granted to a 12-story apartment building and library branch development in Boston's Chinatown, the Boston Business Journal reported. The site at 55 Hudson St. will become home to 110 apartments and a branch of the Boston Public Library. The permit is for roughly $65M in work. A groundbreaking ceremony is scheduled for Sept. 17.
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Hawkins Way Capital announced a $100M renovation of its Sheraton Boston Hotel as part of its 60-year anniversary. Guest rooms, public areas, dining venues and meeting spaces will all be impacted by the new renovations. The hotel is in the heart of the city's Back Bay neighborhood. The renovations will introduce new dining areas and Henderson at Sheraton Boston, a new restaurant and a bar.
