SPRINGFIELD, Mass. (WWLP) – Two major pieces of the Springfield skyline may soon be under new ownership.
MassMutual spokesperson Jim Lacey told 22News the company has decided to put Tower Square and the Marriott hotel up for sale.
Lacey said the tenants’ contracts will remain in place regardless of who buys the properties. With the changes happening in downtown Springfield, MassMutual saw this as a good time to sell.
The MassMutual building is an investment property for the insurance company, and while Tower Square has long had MassMutual’s name at the top, the company’s main offices are actually located a couple of miles away on State Street.
Lacey told 22News this does not change their commitment to the City of Springfield.
“MassMutual maintains a diversified general investment account that includes a range of investments from bonds to real estate holdings, including Tower Square (retail and office) and the Springfield Marriot, which the company constantly evaluates with the goal of maximizing results to benefit policy owners,” MassMutual stated.