Insurance company becomes first tenant preserving 260 jobs in the city
FALL RIVER, Massachusetts – (August 27, 2013) – First Bristol Corporation (FBC), a regional real estate development company, announced today that it has acquired the Travelers Insurance Building located at 99 South Main Street in Fall River, MA. In addition, FBC announced that The Travelers Insurance Company has signed a long-term lease for approximately half of the office space, preserving 260 jobs in this key central business district in Fall River, which it has occupied for more than a decade. FBC will also invest nearly $2 million into the building for structural upgrades such as subdividing the floor plans in order to accommodate other smaller multi-tenant users. This modern four-story, 100,000-square-foot class-A office building features state-of-the-art data, power and HVAC systems along with backup generator service and convenient access to major interstate highways and rail service.
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James J. Karam, President and CEO of FBC, thanked Mayor William A. Flanagan, who played an instrumental role with his economic development team in addressing the long-term parking needs for Travelers and other future tenants as a result of the long-term lease provided by the city’s 250-space Milliken Boulevard Parking Garage.
Mayor Flanagan indicated that this exciting location will serve as a key anchor stimulus and continue to upgrade the Central City Government Center area along North and South Main Street by bringing other regional tenants to the downtown area.
“Along with the building’s on-site parking lots providing an additional 120 parking space, we were able to maintain Travelers and attract future tenants to this dynamic downtown location,” said Jamie Karam, Vice President of Development for FBC. “As a prime location with highway access and visibility, we are confident we will attract many firms seeking a first-class office environment from 4,000 to 40,000 square-feet of space with an extremely competitive pricing structure.”
About First Bristol Corporation
First Bristol Corporation is a thirty-year old real estate development firm that has developed over 3.5 million square feet of Professional and Medical Offices, Shopping Centers, and seven Hotels throughout Southern New England.
