BXP Sees Strong Leasing Momentum in the 4th Quarter 2021
Boston Properties (NYSE: BXP) has executed 1.8 million square feet of leases in Q4 2021, with an average lease term of 8.6 years, contributing to a total of 5.1 million square feet for the year. Key leases include 231,000 square feet in South San Francisco and significant leases in Waltham and New York City. This leasing activity marks a 55% increase from Q4 2020 and showcases a strong demand for office spaces, particularly among life sciences clients, with over 25% of leases in this sector.
- 1.8 million square feet of leases executed in Q4 2021, marking a substantial increase in leasing activity.
- Total leasing activity for 2021 reached 5.1 million square feet, indicating strong demand.
- Leases include significant contracts with life sciences companies, highlighting growth in this market.
- Leasing activity experienced a 55% increase compared to Q4 2020.
- None.
Executes 1.8 Million Square Feet of Leases with a Weighted-Average Lease Term of 8.6 Years
Notable leases signed during the fourth quarter include:
-
a 231,000 square foot lease for the entire 751
Gateway life science building inSouth San Francisco, California , -
165,000 square feet of new leases at our new life science project at
880 Winter Street inWaltham, Massachusetts , -
a 120,000 square foot lease at
1265 Main Street inWaltham, Massachusetts , -
a 108,000 square foot lease at
Times Square Tower inNew York City ,New York , -
an 89,000 square foot lease extension at
601 Lexington Avenue inNew York City ,New York , -
an 89,000 square foot lease at
Reston Town Center inReston, Virginia , and -
a 78,000 square foot lease at 510 Carnegie Center in
Princeton, New Jersey .
“The strong leasing momentum we experienced in the fourth quarter underscores the value companies place on securing high-quality workspaces essential for collaboration, innovation, and growth,” said
BXP’s leasing activity steadily increased throughout 2021 with the fourth quarter achieving the largest square footage leased since Q3 of 2019’s 2 million square feet and it represents a
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