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Analysis

This Office Landlord Reports Strong Leasing, Longer Terms

Rents in "premier workplaces" in CBDs are 50% higher than broader office market.

Boston Properties (BXP), one of the largest U.S. office landlords, reported strong leasing activity in the first quarter, with tenants opting to take longer-term leases that they did a year ago.

The REIT inked close to 900K SF of leases in Q1, a 35% increase compared to the Q1 2023 total of 600K SF, with a weighted average lease term of nearly 12 years, up from last year’s average of about eight years.

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Jack Rogers

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