BXP Inks More than 1.3 Million Square Feet of Leases in the Second Quarter of 2024

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07/31/2024 - 07:00 AM EDT

BOSTON--(BUSINESS WIRE)-- BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that it signed approximately 1.3 million square feet of leases in the second quarter of 2024 with a weighted-average lease term of 9.0 years, bringing BXP’s total leasing activity for 2024 to approximately 2.2 million square feet. Strong leasing activity was experienced across BXP’s portfolio, particularly in the Boston, New York, and Washington, DC regions.

Notable leases executed during the second quarter include:

A 289,000 square foot renewal and expansion at Reston Town Center in Reston, Virginia,
A 164,000 square foot renewal and expansion at the GM Building in New York City, New York, and
A 120,000 square foot renewal at 200 Clarendon Street in Boston, Massachusetts.

“The consistent leasing activity we’ve witnessed across the portfolio in the second quarter of 2024 is a direct reflection of the demand for premier workplaces and high-quality product that we’ve been able to create for today’s market,” said Owen Thomas, Chairman and CEO, BXP. “As corporate earnings begin to increase, companies are moving forward with space decisions and premier workplaces capture an outsize portion of that demand.”

BXP’s leasing activity is steadily increasing in 2024, with 73 clients signing leases in the second quarter. The weighted-average lease term remains higher than long-term averages, indicating clients making long-term investments in high-quality spaces.

About BXP

BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of June 30, 2024, BXP’s portfolio, including properties owned by unconsolidated joint ventures, totaled 53.5 million square feet and 186 properties, with ten properties under construction or redevelopment. For more information, visit www.bxp.com or follow us on LinkedIn or Instagram.