Insurance firm to take up 20K sq. ft. in renovated Southborough building
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118 and 120 Turnpike Road in Southborough
An insurance, employee benefits and human resources solutions firm will consolidate area offices into a new 20,000-square-foot space being renovated in Southborough.
The Hilb Group of New England said Tuesday it is planning to move into 120 Turnpike Road, part of the rebranded The Lookout @ Southborough, by the start of next year. The new office will include 65 employees from five area agencies under the Hilb Group's ownership umbrella.
The Hilb Group, whose parent firm is based in Virginia, is the first major new tenant for The Lookout @ Southborough after it was bought in August by Ferris Development, a Marlborough real estate investment firm. Ferris paid nearly $3.5 million to buy the 20-plus-acre site on Route 9 from Curo Enterprises, a New York property investment and management firm.
Ferris is now taking on a $1.5-million overhaul of one of the site's two buildings with a new exterior, lobby, common areas, coffee bar, cafeteria and rooftop deck.
The Hilb Group said it will consolidate five agencies into the new space: Mid-State Insurance in Worcester, Marsh-Kemp Insurance of Worcester, Mackintire Insurance of Westborough, G&N Insurance of Southborough and DBR Group of Framingham. The new space will have enough room to accommodate the firm's planned growth, James Pietro, the company's managing director for Central Massachusetts, said in a statement.
The Southborough location is one of three locations, along with others in Cranston, R.I., and Needham, that the Hilb Group is planning to consolidate operations from more than 20 separate locations in New England. The parent company says it is the nation's 18th largest independent insurance agency, with 90 offices in 20 states.
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