Bain Capital Renews 378K-SF Lease With BXP in Boston

Bain Capital has signed a lease renewal for a property in Boston, Massachusetts that is set to include new amenities next year.

This applies to 200 Clarendon Street, which was described by leaser, BXP, as “New England’s tallest building,” in a statement. Bain will occupy 378,000 of the 1.7 million square feet in the property. In the workplace tower, a 360-view of Boston can be seen. Plus, the building comes with ceiling windows.

But there is more coming for employers and workers in the building. In 2025, the property will be expanding to include a new section called 200 Club, which will come with several perks and amenities.

“The 200 Club will offer a curated hospitality and wellness experience featuring elevated fitness, conference, and lounge options, designed to enhance productivity and well-being,” BXP said in a statement.

The move by BXP comes after a busy second quarter, in which it signed roughly 1.3 million square feet worth of leases, bringing its year-to-date total to 2.2 million square feet. The average term for the three months ending June was nine years. The real estate investment trust’s leasing activity was most prevalent in New York, Washington D.C, and of course in Boston, which is where its headquarters are located.

CEO and chairman Owen Thomas credited the performance to the demand for high-quality workplaces.

While BXP remains focused in Boston, the market for offices in the area may not be ideal at the moment. The area has struggled to see much employment growth due to high living and business costs. That has led to a historic high for vacancies for eight consecutive quarters, according to a report from Newmark.Occuppancy and available rates were 20.7 percent and 25.4 percent, respectively, in the three months through June. The work-from-home trend, which has come with a demand for less office space, has been a general issue in the industry nationally.