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111 Huntington Avenue

MFS Investment Management Renews 330,000 SF Lease At Prudential Center In Boston's Back Bay
LEASEDOffice

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

MM
MFS Investment ManagementTenant

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