1. MassMutual to sell Tower Square and Marriott Hotel properties in downtown Springfield

    MassMutual to sell Tower Square and Marriott Hotel properties in downtown Springfield

    Massachusetts Mutual Life Insurance Company has put Tower Square, including the adjacent Marriott hotel, up for sale after having developed the property and owned it for more than 45 years. James Lacey, vice president of media relations at the Springfield-based insurance giant, said the decision was reached Monday. He said this is not a lessening of MassMutual's commitment to the city, but instead an investment decision and a recognition that the property has gained value as Springfield has developed and is developing. The city of Springfield has the whole complex assessed at $34.2 million.

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    1. The contract to manage the Springfield Marriott is reaching its end and downtown Springfield is experiencing an increase in economic development.
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