BXP reports strong leasing momentum in 2025

Boston, MA BXP, one of the largest publicly traded developers, owners, and managers of workplaces in the United States, reports it has signed more than 1.1 million s/f 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 s/f of additional leasing was completed post quarter close, bringing total leasing to date to approximately 1.4 million s/f.

Notable leases executed during the first quarter include:

• A 244,000 s/f lease with global law firm Goodwin at 200 Fifth Ave. in New York City, New York;

• An 162,000 s/f lease with a defense technology company at 1050 Winter St. in Waltham, Mass., and

• More than 260,000 s/f of leasing throughout the San Francisco region.

Notable leases executed post quarter close include:

• An 126,000 s/f, 20-year lease with international law firm Cooley LLP at 725 12^th St. in Washington, D.C.

“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.”