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155 Seaport Blvd

Cervello Inc Leases Office Space At Seaport West Boston From Pembroke
LEASEDOffice

Cervello Inc Leases Office Space At Seaport West Boston From Pembroke

155 Seaport Blvd

$60

$60/SF

Building Size

11,769 SF

Asset Type

Office

Closing

May 1, 2023

AI

Data and analytics consulting firm Cervello Inc has signed a five-year lease for an office space located at 155 Seaport Blvd in Boston, MA. The space, measuring 11,769 sq ft, is situated at Seaport West, which is owned by Pembroke. The lease transaction was finalized on May 1, 2023.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: May 1, 2023
  • Address: 155 Seaport Blvd, Boston, MA
  • Market: Boston, MA
  • Landlord: Pembroke - Kristan McLaughlin
  • Tenant: Cervello Inc - Kerry Veitch
  • Landlord's Representative: Bill Anderson, Tim Bianchi, Deb Gould, & Mel Cersosimo - Newmark
  • Tenant's Representative: Adam Schneier - Colliers
  • Asking Rent: $60/ft.

Pembroke, the landlord, is currently undertaking a comprehensive renovation of the ground floor at Seaport East to enhance the experience for tenants and guests. The renovations include the addition of a new café, winter garden, and conference space, creating a more welcoming atmosphere.

Players

Debra Gould

Newmark

Broker

$614M

vol

4 deals

Broker
P
PembrokeLandlord

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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93