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A State Street Corp. division will vacate its Channel Center offices in Fort Point and relocate staff to Burlington, North Quincy and the One Congress tower at Government Center, according to a report.

The Channel Center complex is headquarters of State Street Investment Management, previously known as State Street Global Advisors.

A State Street executive told the Boston Globe the move will increase efficiency.

The One Channel Center complex was developed by Ares Management and CV Properties and includes the 501,650 square-foot office building and a 967-space parking garage. State Street took occupancy in 2014, signing a lease that ran through 2029.

The property was sold to Tishman Speyer in 2015 for $264.5 million.

State Street’s move was aided by a $11.5 million tax break from the city of Boston over 15 years.

In 2023, State Street Corp. relocated its headquarters from 1 Lincoln St. to the newly-completed One Congress tower. The 763,600 square-foot North Quincy office building at 1776 Heritage Drive was completed in the early 1970s and is owned by State Street Corp. The company also has an office at 700 District Ave. in Burlington.

A State Street spokesperson did not return a request for comment.

The 11.8 million square-foot Seaport District office market had a 20.1 percent availability rate in the second quarter, according to a CBRE report issued last week.