WilmerHale Renews Lease For 201018 Square Feet At 60 State Street In Boston

The property asset involved in the transaction is located at 60 State Street, Boston, MA. It is an office asset with a lease renewal for 201,018 square feet across floors 25–32. The LEED Platinum tower is presently 97% leased and is undergoing upgrades. The previous transaction amount for this property was $614 million. Boston office rents averaged $52.83 per square foot in August, amidst a 16% vacancy rate.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $614M
• Lease Size: 201,018 SF
• Landlord: Barry Sternlicht - Starwood Capital Group
• Tenant: WilmerHale
• Landlord's Representative: Dan Cavanaugh, Ryan Enright & Patrick Nugent - JLL
• Tenant's Representative: Roy Hirshland, Thomas Fulcher, Arthur Greenberg, Ron Perry & Matthew Perry - Savills

WilmerHale renewed its lease at the property, downsizing from its previous lease size of 248,000 square feet. The lease renewal reflects the ongoing demand and strategic movements within the Boston office market.