Ownership
The Prudential Center is currently owned by Boston Properties. The building is one of several Prudential Centers built around the United States (such as the tower in Chicago) constructed as capital investments by Prudential Financial (formerly, The Prudential Insurance Company of America). Preceding Prudential Financial's demutualization, Prudential sold off many of its real estate assets, for instance most of the air rights in Times Square, and the Prudential Center in Boston, to put cash on the corporate balance sheets. 40% of the space was once home to The Gillette Company, now a unit of Procter & Gamble, but many of these floors have since been vacated. Boston-based law firm Ropes & Gray moved into many of these floors, including the 37th through 49th, in fall 2010. Other major tenants include Partners HealthCare, Club Monaco, Exeter Group and Accenture. The building was sold to Boston Properties. However, Prudential Financial's then head of global marketing, and Boston native, Michael Hines, suggested that the real estate deal only go through with the condition that Prudential retain the name and signage rights for the Prudential Center and Prudential Tower. Signage rights in Boston are very limited, and Prudential's are grandfathered. The other notable backlit signs allowed above 100 feet (30 m) include The Colonnade Hotel, Boston, State Street Bank sign, Sheraton sign, and Citgo Sign. Using similar negotiations, Prudential retains two notable signs in Times Square.
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