I'm pretty sure the journalist at the Globe who first reported on this story got it wrong, and everyone since has been repeating it. Hasbro HQ comprises two buildings. 1027 Newport Ave is the main one, and the address they put down as their HQ. That was built in 1899 for the Potter & Johnson Machine Co; Hasbro acquired the site in 1962, and after 60 years of modifications it comprises 313k sqft, and in 2023 had a tax appraisal of a little over $23M.Did you declare Opposite Day, and not notify the rest of us?
https://www.npr.org/2024/01/05/1222714145/jobs-report-december-labor-wages
Also, it's worth reiterating what the Hasbro CEO said--that their HQ is in very degraded condition:
Within the last year, Hasbro has consolidated its Rhode Island-based teams into one central 343,000-square-foot headquarters on Newport Avenue in Pawtucket. "Our Pawtucket building is full of charm and history, but it is also showing its age,” Cocks wrote in his message to employees. According to real estate records, the building was first constructed in 1950 and was last appraised in 2023 for $2.93 million.
Think about that for a minute: this property is 343,000 sq.-ft., but it's only assessed at $2.93 million. In comparison, here's an almost identically-sized property in Downtown Boston, 600 Washington, which is also in fairly degraded, non-competitive condition. But it's still assessed at $77 million as you can see from the link: 26 times more valuable than Hasbro's current HQ.
For all that implies about what ratty condition their condition their HQ is in, that seems significant.
1011 Newport Ave across the street (and which admittedly has the Mr Potato Head out in front) is only 24k sqft and was built in 1950.
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