NU Online News Service, Aug. 16, 4:16 p.m. – Massachusetts Mutual Life Insurance Company, Springfield, Mass., is setting up new offices in downtown Springfield for David L. Babson & Company Inc., an investment management subsidiary.

Babson will be moving 350 employees into 105,000 square feet of redeveloped office space in the 1.5 million-square-foot Tower Square complex, on Main Street, in early 2002, MassMutual says.

The new space will include a modern trading room. The trading room “was previously used by several commercial tenants whose leases have expired,” MassMutual says.

Cornerstone Real Estate Advisers Inc., a MassMutual subsidiary, owns the Tower Square complex. Trammell Crow Company, Dallas, is the managing agent.

The Babson employees who will be moving to Tower Square now work in the MassMutual home office, at 1295 State St.

Babson also has 150 employees in Cambridge, Mass. There are no plans to move those employees into the new Springfield offices, MassMutual says.