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116 Huntington Ave, Boston,...

American Tower Leases 40,000 SF Office Space At 116 Huntington Ave, Boston
LEASEDOffice

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:

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

Michael Joyce

Cushman & Wakefield

Broker

2 deals

Broker
Columbia Property Trust
Columbia Property TrustLandlord

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