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1 Financial Center

Coverys Restructures Lease For 56936 Square Feet At One Financial Center In Boston
LEASEDOffice

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:

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

Bryan Sparkes

JLL

Broker

$56M

vol

3 deals

Broker
JLL
JLLBrokerage

Boston Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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