BXP Reports Strong Leasing Momentum in 2025
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 more than 1.1 million square feet of leases in the first quarter of 2025 with a weighted-average lease term of 10.9 years. Leasing volume in the first quarter was 25% higher than the first quarter of 2024, reflecting sustained leasing activity growth to start the year. Approximately 270,000 square feet of additional leasing was completed post quarter close, bringing total leasing to date to approximately 1.4 million square feet.
Notable leases executed during the first quarter include:
An approximately 244,000 square foot lease with global law firm Goodwin at 200 Fifth Avenue in New York City, New York,
An approximately 162,000 square foot lease with a defense technology company at 1050 Winter Street in Waltham, Massachusetts, and
More than 260,000 square feet of leasing throughout our San Francisco region.
Notable leases executed post quarter close include:
An approximately 126,000 square foot, 20-year lease with international law firm Cooley LLP at 725 12 th Street in Washington, DC.
'Clients continue to make long-term commitments to premier workplaces throughout our portfolio, continuing the momentum we saw throughout 2024,' said Owen Thomas, Chairman and CEO, BXP. 'Our strong performance this quarter, and in the subsequent month, demonstrates that occupying well located, high-quality, highly amenitized properties is a key component of our clients' business strategy.'
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 March 31, 2025, BXP's portfolio, including properties owned by unconsolidated joint ventures, totaled 53.4 million square feet and 185 properties, including nine properties under construction or redevelopment. For more information, visit www.bxp.com or follow us on LinkedIn or Instagram.
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