BOSTON— BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced continued strong leasing momentum in the third quarter of 2025, securing more than 1.5 million square feet of leases with a weighted-average lease term of 7.9 years.
This marks BXP’s strongest third quarter of leasing since 2019 and represents a 38% increase compared to the same period last year.
Leasing activity through the first nine months of 2025 now totals approximately 3.8 million square feet, underscoring sustained demand for BXP’s high-quality, amenity-rich portfolio across major U.S. markets.
Strong performance across key markets
In the Boston Urban Edge market, BXP completed more than 200,000 square feet of leasing, fully absorbing existing vacancies and reinforcing the company’s leadership position in one of the country’s most competitive office markets.
In New York City, BXP signed over 475,000 square feet of leases in Midtown Manhattan, primarily long-term extensions with major financial services firms. The company also executed two full-floor leases totaling 46,000 square feet at 360 Park Avenue South in Midtown South, reflecting ongoing demand for well-located, modern office space in Manhattan’s business core.
Meanwhile, in Reston, Virginia, BXP executed a 50,000-square-foot lease with a technology client at Reston Town Center, bringing the office portion of the development to an impressive 98% leased.
Confidence in long-term workplace demand
“BXP continues to see strong demand and to secure additional market share with our premier workplace portfolio,” said Owen Thomas, Chairman and CEO of BXP. “Clients value our well-located, high-quality, highly amenitized properties and continue to make long-term commitments to occupy our properties to support business success.”
The company’s Q3 leasing activity demonstrates resilience across major markets as tenants continue to prioritize flexibility, location, and workplace experience.
BXP’s strong leasing performance builds on its ongoing investment in creating next-generation workplaces that foster collaboration, innovation, and employee well-being — positioning the company for continued growth and leadership in the evolving office market.
