MFS Investment Management Renews 330,000 SF Lease At Prudential Center In Boston's Back Bay
111 Huntington Avenue
Building Size
330,000 SF
Asset Type
Office
Closing
Dec 1, 2023
AI
MFS Investment Management has renewed its 330,000 square feet lease at Prudential Center in Boston's Back Bay area. The office space, located at 111 Huntington Avenue, offers direct access to key spots such as the Hynes Convention Center and nearby office towers. The strategic location played a significant role in MFS Investment Management's decision to renew their lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not applicable
- Square Footage: 330,000
- Address: 111 Huntington Avenue, Boston, MA
- Market: Boston, MA
Amrit Kanwal, representing MFS Investment Management, played a crucial role in negotiating the lease renewal. By securing continued access to the prime location, MFS Investment Management aims to maintain its presence in Boston's Back Bay area for the foreseeable future.
Players
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