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WOBURN, MA-Tudor Risk Services, an insurance brokerage firm, is planning for growth with a 7,000-square-foot lease at 300 TradeCenter 128 here. The firm is newly formed anticipates expansion.

“This new building is the perfect solution for our rapid growth strategy,” says Peter Lennon, president at Tudor Risk, in a statement. “We found this building to be the best in the area to help spur our growth. Not only will the location allow us to hire additional employees to meet the demands of our insurance brokerage firm, but it will allow us to build on our reputation of being a one-of-a-kind, innovative and eco-friendly company.”

The terms of the lease were not disclosed by the owner, Cummings Properties, but the asking price of the building is $24 per square foot. The building totals 550,000 square feet and still has roughly 300,000 square feet available, according to Eric Anderson, VP of leasing for Cummings. Tudor required a “high-end, first class space” and the build-out of the 4th floor space for Tudor was completed quickly, Anderson says.

Tudor was formed this year spanning two offices, one here and one in Albany. Derek Cook, leasing director, represented Cummings in the deal. Tudor also repped itself.

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