BOSTON–BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced robust leasing activity in early 2025, reflecting continued demand for high-quality commercial real estate in top urban markets.
In a statement released April 29, BXP reported that it signed over 1.1 million square feet of leases in the first quarter of 2025 alone—a 25% increase compared to the same period in 2024. When factoring in additional deals completed after the quarter’s close, total leasing activity to date in 2025 has reached approximately 1.4 million square feet.
“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 of 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.”
Key leases in the first quarter included a 244,000 square foot lease with global law firm Goodwin at 200 Fifth Avenue in New York City, and a 162,000 square foot lease with a defense technology firm at 1050 Winter Street in Waltham, Massachusetts. BXP also reported over 260,000 square feet of leasing activity across the San Francisco region during the quarter.
Post-quarter highlights include a significant 20-year lease for approximately 126,000 square feet with international law firm Cooley LLP at 725 12th Street in Washington, D.C.
With a weighted-average lease term of 10.9 years, these long-term commitments underscore tenant confidence in BXP’s premium office environments, even amid evolving workplace dynamics.
