BXP, Inc.

BXP is a publicly traded REIT founded in 1970 by Mortimer Zuckerman and Edward Linde and headquartered at the Prudential Center in Boston. It went public in 1997 and dropped the Boston Properties name in 2024. The company develops, owns and manages office buildings, with smaller retail, residential and hotel holdings across six markets. As of December 31, 2025 its portfolio, including joint-venture assets, covered 52.6 million square feet across 179 properties, eight of them under construction or redevelopment. In Manhattan it’s developing 343 Madison Avenue, a ground-up office tower next to Grand Central that closed a $1.2 billion construction loan in July 2026. BXP employed 826 people at year-end 2025, 112 of them union.

The portfolio is not spread evenly. Boston carries 16.5 million square feet across 52 properties. New York holds 12.6 million across 26, Washington DC 8.8 million across 30, and San Francisco 7.9 million across 27. Los Angeles has 27 properties but only 2.3 million square feet, and Seattle is the smallest position at two properties totalling 1.5 million square feet. For contractors, consultants and trades chasing work, that distribution is a reasonable proxy for where BXP’s construction and capital spending actually lands.

As of June 30, 2026 the company reported 51.1 million square feet across 164 properties including joint ventures, six of them under construction or redevelopment. In-service properties were 91.3 percent leased with a weighted-average lease term of 7.6 years. BXP’s share of annualized revenue stood at $3.4 billion and its share of annualized EBITDAre at $1.9 billion. During the second quarter the company executed roughly 1.8 million square feet of leases and lifted total portfolio occupancy by 100 basis points. It also ranks in the top 6 percent of Sustainalytics’ global universe.

By its own description BXP is the largest publicly traded developer, owner and manager of high-end workplace real estate in the country, structured as a fully integrated REIT, meaning development, ownership and management sit inside one company rather than being contracted out. It has been delivering buildings for more than 55 years. The six-market concentration is a deliberate strategy, and the company frames each market by the demand it anchors: universities and medical research institutions in Boston, financial services and international business in New York, technology and life sciences in San Francisco, and a heavily credentialed scientific and engineering workforce around Washington.