OneBeacon Insurance Group, Ltd. has leased most of its 150 Royall St. office building to The Shaw Group Inc. The 188,857 s/f lease is for a term of ten and a half years. Shaw plans to relocate employees to 150 Royall St. beginning in June 2012.
CLW Real Estate Services Group principal Richard Bradbury represented OneBeacon, while Andy Majewski, Steve Clancy and Rachel Marks of CB Richard Ellis/New England represented the tenant.
OneBeacon will retain 65,000 s/f for its corporate services employees. The company sold its nonspecialty commercial lines and personal lines businesses over the past two years, which reduced its Canton office space requirements.
OneBeacon is a holding company that is publicly traded on the New York Stock Exchange. OneBeacon's underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. The company's businesses include OneBeacon Professional Insurance, International Marine Underwriters, OneBeacon Accident Group, OneBeacon Entertainment, OneBeacon Energy Group, OneBeacon Government Risks, A.W.G. Dewar (tuition refund), collector cars and boats written through Hagerty Insurance Agency, OneBeacon Technology Insurance, OneBeacon Specialty Property, OneBeacon Property and Inland Marine and OneBeacon Excess and Surplus Lines. The company also offers products and services to assigned risk markets through its AutoOne division. OneBeacon's insurance businesses are national in scope.