The Larkin at Exchange office building will be about 75 percent occupied when Nova Casualty, an insurance company, completes its move into the remodeled warehouse just off Seneca Street.
Nova will invest $400,000 when it shifts its headquarters and administrative offices from Oak Street to the new location, according to Empire State Development, the state's economic development arm.
Nova will retain its current 55 jobs, and expects to add about 10 more in the near future, said Craig Rappaport, the company's senior vice president. It was drawn to the new location by the prospect of more space for expansion, plus plenty of parking for its employees, he said.
Nova joins two other new tenants, WPXJ-TV, and Cannon Heyman & Weiss LLP, a law firm.
The 600,000-square-foot Larkin at Exchange building was formerly the home of Graphic Controls. But City View Properties transformed the vacant complex when it bought the building for $1 million and invested millions more.
Empire State Development said Nova is eligible to apply for a $100,000 grant to help cover costs related to moving into its new location.
While Nova hopes to move in by the end of the year, WPXJ-TV has already begun moving in, according to City View. Cannon Heyman & Weiss LLP plans to move in this week.