Hasbro Inc. is postponing a sale of its longtime headquarters campus in Pawtucket, RI, choosing to keep the property in place until the company completes its planned move to Boston. According to reporting from the Boston Business Journal, the global toy and digital game company has tied the timing of any disposition to the execution of its relocation strategy rather than bringing the asset to market immediately.
The company detailed in a recent SEC filing that the two-building complex at 1027 Newport Ave. will continue to serve as Hasbro’s corporate headquarters until the move is complete. The Pawtucket property totals approximately 366,000 square feet, combining office and industrial space across the larger and smaller structures on the site.
Local reporting cited 2023 appraisal figures that value the larger building at nearly $23.4 million and the smaller building at around $2.2 million. While no marketing timeline or guidance on potential pricing has been disclosed, the decision indicates that any sale effort will follow, rather than precede, the transition of staff and operations to Boston.
Hasbro’s relocation plan centers on a move to 400 Summer St. in Boston’s Seaport District, a property associated with WS Development. There, the company will not initially occupy space through a direct lease, but instead will sublease 265,000 square feet from Foundation Medicine. The Boston Business Journal reported that the new space is expected to accommodate approximately 700 employees.
The move to Boston is targeted for the fourth quarter of 2026, aligning the headquarters transition with the start of Hasbro’s new occupancy at 400 Summer St. The shift will relocate a significant portion of the company’s office footprint from Rhode Island to the Seaport District, a major Boston waterfront office hub.
Massachusetts approved a potential $14-million tax break in connection with Hasbro’s relocation decision, according to the Business Journal. The incentive support underscores the economic development interest tied to securing the company’s regional employment base in Boston.
Until the relocation is complete, the Pawtucket campus will remain fully in use as Hasbro’s headquarters, with no immediate change in its operational status implied by the SEC filing. Details about how and when the property will ultimately be brought to market, and what buyer profile it may attract, have not yet been disclosed in public documents or local reporting.
Photo credit: Kenneth C. Zirkel.
