Boston Properties CEO Owen Thomas made a bullish case for the troubled office asset class this week, telling CNBC's Sara Eisen that Labor Day will be an "important inflection point" for the sector.
In an appearance on the network's Squawk on the Street, Thomas made clear that he's a firm believer in the return to the office asset class. The remarks come as a number of companies have announced they will delay a return to the office because of the Delta variant.
In the second quarter, Boston Properties—the largest publicly-traded developer, owner and manager of US Class A office properties—leased 1.2 million square feet of space with a weighted lease term average of seven years. That was double the amount of leasing in Q1 and 90% of the company's long term averages from the second quarter.
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