Coverys Restructures Lease For 56936 Square Feet At One Financial Center In Boston
1 Financial Center
Building Size
56,936 SF
Asset Type
Office
Closing
Sep 24, 2025
AI
The asset involved in this lease transaction is an office space located at 1 Financial Center in Boston, MA. The leased area encompasses 56,936 square feet, situated across the 13th and 14th floors of the building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Boston, MA
- Tenant: Coverys
- Landlord's Representative: Bryan Sparkes - JLL
- Tenant's Representatives: Christopher Rogers & Ellen Fantini Cullinan - Freudenheim Partners
This transaction reflects Coverys's strategic realignment of its leasing terms to enhance cost efficiency and adapt to changing operational requirements linked to hybrid work models. The brokerage representation by Freudenheim Partners was instrumental in navigating the lease restructuring for Coverys at One Financial Center.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93