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BOSTON-Aspen Specialty Insurance has signed a 10-year lease for 28,715 sf in the class A, 32-story Federal Reserve Building at 600 Atlantic Ave. This takes occupancy in the building, which aggregates nearly 1.1 million sf, to 97%, according to Roger Breslin, VP of locally based Meredith & Grew.

Aspen is nearly doubling its current space in a relocation from 15,000 sf at 99 High St. Breslin, along with Ronald Perry, EVP, and Francis Durand, SVP at Meredith & Grew, represented the owner, Federal Reserve Bank of Boston. Robert Cleary, formerly with the locally based Codman Co. and now independent, represented the tenant. Aspen is putting its High Street space out for sublet, Breslin says.

The aggregate value of the transaction is undisclosed. However, Breslin tells GlobeSt.com the asking rent rate for the remaining space in the building, which is the 15,000-sf 26th floor, is “in the high $40s per sf.” The property, which is in the financial district, was completed in 1976.

Aspen is a division of Aspen Insurance Holdings Ltd., a Bermuda-based holding company that provides property and casualty reinsurance, primarily in the US and the UK. Its principal shareholders are the Blackstone Group, Candover Partners Ltd. and Credit Suisse First Boston Private Equity.

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