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60 State Street

Overdrive Subleases 7,962 SF Office Space From Tsoi/Kobus & Associates In Boston's Financial District
LEASEDOffice

Overdrive Subleases 7,962 SF Office Space From Tsoi/Kobus & Associates In Boston's Financial District

60 State Street

Building Size

7,962 SF

Asset Type

Office

Closing

May 16, 2025

AI

The asset involved in this transaction is an office space located at 60 State Street, Boston, MA, with a total area of 7,962 square feet. The lease was executed with Tsoi/Kobus & Associates acting as the landlord for the tenant, Overdrive, a digital marketing firm. The transaction marked an important development in the Financial District of Boston, with occupancy set to commence in January 2025.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 60 State Street, Boston, MA
  • Asset Size: 7,962 SF
  • Landlord: Tsoi/Kobus & Associates
  • Tenant: Steve Potash - Overdrive
  • Brokers: Kirk Weller & Thomas Aitken - Avison Young

The key individuals involved in this transaction include Steve Potash representing Overdrive, and brokers Kirk Weller and Thomas Aitken from Avison Young, who facilitated the lease agreement between the landlord and tenant. This lease represents a strategic relocation for Overdrive into a prime area of Boston's Financial District.

Players

Thomas Aitken

Avison Young

Broker

1 deal

Broker

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