Coverys Takes Office Space in South Station

Liability insurance provider Coverys announced that as part of their expansion, they are relocating their Boston headquarters to One Financial Center in South Station.

Coverys signed a 15-year lease for 60,000 square feet of office space in the 46-story, 1.3-million-square-foot tower. The company currently occupies 49,000 square feet at 101 Arch Street. They are expected to move to their new home in January.

While terms of the deal were not disclosed, Cassidy Turley reports that average asking rents in the Financial District in the first quarter were $47.21 per square foot with an availability rate of nearly 16%. (BBJ)