Smith Barney Renews CitySquare Lease
Financial services firm Smith Barney has extended its lease for 9,798 square feet of office space on the 15th floor of 100 Front St., part of downtown Worcester's CitySquare development.
Smith Barney has been at the Front Street office since 1994.
According to Will Kelleher, vice president with Worcester-based commercial real estate firm Kelleher & Sadowsky Associates, the lease extension covers "multiple years." The WBJ is awaiting further details of the arrangement from Smith Barney.
Smith Barney requested expansion rights in the building, Kelleher said.
Early this month, employee benefits provider Unum Group announced that it would lease nearly 200,000 square feet of space in a new building at CitySquare. Unum's commitment is expected to jumpstart the stalled $565 million, mixed-use project at the site of a defunct shopping mall in the heart of the city.
The project is being developed by Berkeley Investments of Boston.
Kelleher said tenants in the existing office buildings there, 100 and 120 Front St., are encouraged by the Unum agreement.
"CitySquare will definitely encourage tenants to do one of two things: either stay in their current space in a more vibrant setting, or to possibly explore a move into a new building that will provide more of an image and greater efficiencies moving forward," he said.
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