FM is leaving Johnston for a new headquarters in Providence
PROVIDENCE – FM, the mutual commercial insurance company based in Johnston, will turn its newly bought building in downtown Providence into its headquarters, eventually shuttering its Johnston campus. FM, formerly known as FM Global, announced the move in a news release. FM is renovating multiple floors of the building at 10 Memorial Blvd., across from Providence Place. The building previously had an IGT sign, which was replaced with the FM logo in August. FM paid $68.5 million for the 202,000-square-foot building and a long-term ground lease, the company said in February. The property was part of the Capital Center redevelopment of Providence's former rail yards, and the land is owned by Capital Properties Inc. Brightstar, formerly IGT, will be staying in the building as well, its spokesman said after the announcement of the purchase. The commercial tenants already in the building, including Fidelity and the Capital Grille, will be staying. While officials previously said the building would complement its Johnston campus , now the plan is to shutter the Johnston headquarters and move those operations to Providence. "While Johnston will eventually cease to serve as an FM work location, no decision has been made on the timing of that transition,