Overview
Boston Properties, Inc. (BXP) is a publicly traded real estate investment trust focused on developing, owning and managing premier workplaces. Its core business is leasing modern office space, with additional activity in property development, acquisitions and management; its portfolio also includes life-sciences facilities and mixed-use properties.[1][2][3]
BXP’s portfolio is concentrated in six U.S. markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. As of June 30, 2026, it reported 164 properties totaling 51.1 million square feet.[4] The company states its mission is to envision, develop and manage exceptional properties that enhance client success, strengthen communities and advance opportunity.[5] For scale, FY2025 revenue was $3.482 billion, and BXP reported 714 non-union employees at year-end 2025.[6][7] [1][2][3][4][5][6][7][4][5][7]
Products & services
Boston Properties’ portfolio comprises office, life-sciences, retail, residential, hotel and mixed-use properties. At June 30, 2026, it reported 164 commercial properties totaling approximately 51.1 million rentable square feet, including 143 office properties, 13 retail properties, seven residential properties and one hotel; some properties were under construction or redevelopment.[8][9][10][11][12][13] Examples include 290 Binney Street, a 573,000-square-foot life-sciences project in Cambridge, and 343 Madison Avenue, a 930,000-square-foot office development in New York.[14][15] Residential projects include 121 Broadway Street in Cambridge (439 units) and 290 Coles Street in Jersey City (670 units).[13]
The company develops, owns and manages its properties and provides leasing and tenant-facing workplace amenities. Offerings vary by property: 360 Park Avenue South, for example, lists a rooftop conference center and work lounge, restaurant, lobby lounge and coffee bar; Kendall Center combines office and research-lab space with restaurants, hotels, parks and public programming.[16][17][18] In the first half of 2026, BXP executed 2.90 million square feet of leases; second-generation leases had a 92-month weighted-average term.[19] The cited 2026 operating data reports property-type NOI figures but does not state revenue shares as percentages by property type.[20] [8][9][10][11][12][13][19][20][16][14][15][17][18]
Geographic presence
Boston Properties, Inc. (BXP, Inc., formerly known as Boston Properties, Inc.) operates in six U.S. markets: Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. Its five traditional central business district (CBD) markets are Boston, New York, San Francisco, Seattle and Washington, DC; together they accounted for approximately 91% of BXP’s share of annualized rental obligations.[21][22][23]
For the six months ended June 30, 2026, rental revenue was concentrated in Boston ($654.4 million; 37.56%) and New York ($544.6 million; 31.26%). The other markets were San Francisco ($262.6 million; 15.07%), Washington, DC ($226.0 million; 12.97%), Los Angeles ($32.7 million; 1.88%) and Seattle ($22.0 million; 1.26%).[24][25]
The company lists its corporate headquarters at Prudential Center, 800 Boylston Street, Boston, Massachusetts. The latest cited filing states that BXP has no employees itself; its operating partnership conducts substantially all of the business. The cited information does not provide an employee breakdown by location.[26][21][27] [21][22][23][24][25][25][25][25][25][25][25][25][25][25][25][25][26][27]
Business segments
BXP reports six geographic business segments: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. It also presents results by property type—Office (including office, life sciences, and retail), Residential, and Hotel—but these are property-type categories, not additional reported segments.[28] Management measures segment profit or loss using the company’s share of NOI.[29]
By 2025 rental revenue, the approximate contribution of each geographic segment was Boston 37.5%, Los Angeles 2.1%, New York 30.8%, San Francisco 15.3%, Seattle 1.4%, and Washington, DC 13.0%. These percentages use each market’s share of total rental revenue, rather than NOI or total consolidated revenue.[30] The latest full-year filing available in the research was for 2025, and BXP’s second-quarter 2026 filing confirmed the same geographic segment structure.[31] [28][29][30][30][30][30][30][30][31]
Company history
Boston Properties was founded in Boston in 1970 by Mort Zuckerman and Ed Linde. It completed its initial public offering on June 23, 1997.[32][33]
The company expanded its landmark-property portfolio with the 2001 acquisition of 601 Lexington Avenue in New York and its 2010 acquisition of Boston’s John Hancock Tower and garage. In 2013, Owen Thomas succeeded Zuckerman as CEO.[34][35][36]
Effective July 1, 2024, the company changed its legal name from Boston Properties, Inc. to BXP, Inc.[37] [32][33][34][35][36][37]
Sources
- BOSTON PROPERTIES INC — Full financial report (2025 Y)
- investors.bxp.com[4]
- www.bxp.com[5]
- www.sec.gov[7]
- BOSTON PROPERTIES INC — Full financial report (2026 Q 2)
- www.bxp.com[14]
- www.bxp.com[15]
- www.bxp.com[16]
- www.bxp.com[17]
- www.bxp.com[18]
- www.bxp.com[27]
- www.bxp.com[32]
- investors.bxp.com[33]
- www.bxp.com[34]
- investors.bxp.com[35]
- investors.bxp.com[36]
- www.sec.gov[37]
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