American Tower Leases 40,000 SF Office Space At 116 Huntington Ave, Boston
116 Huntington Ave, Boston, MA, 02116
Building Size
40,000 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The office building located at 116 Huntington Avenue in Boston, MA, 02116 has recently been involved in a lease renewal transaction. The 15-story building encompasses 273,000 square feet and features ground-floor retail and restaurant spaces. American Tower, a REIT based in Boston, renewed a 40,000-square-foot office lease within this property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: American Tower
- Tenant's Representative: Tim Lahey (CBRE)
- Landlord: Columbia Property Trust
- Landlord's Representatives: Lauria Brennan (Cushman & Wakefield), Michael Joyce (Cushman & Wakefield)
- Square Feet: 40,000
The lease negotiations were facilitated by Michael Joyce and Lauria Brennan from Cushman & Wakefield who represented the landlord, Columbia Property Trust. On the tenant's side, Kevin Kennedy and Tim Lahey from CBRE acted as representatives for American Tower.
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