BXP, Inc. (formerly Boston Properties, Inc.) is a publicly traded

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

which invests in premier workplaces in

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

Seattle Seattle ( ) is the most populous city in the U.S. state of Washington and in the Pacific Northwest region of North America. With a population of 780,995 in 2024, it is the 18th-most populous city in the United States. The city is the cou ...

, and

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

As of December 31, 2023, the company owned or had interests in 188 commercial real estate properties, aggregating approximately 53.3 million net rentable square feet.

History

The company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston. In 1985, the company outbid

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...

to re-develop the New York Coliseum at

Columbus Circle Columbus Circle is a traffic circle and heavily trafficked intersection in the New York City borough (New York City), borough of Manhattan, located at the intersection of Eighth Avenue (Manhattan), Eighth Avenue, Broadway (Manhattan), Broadway, ...

. However the company did not proceed with development and sold the property, it is now the site of the

Time Warner Center Deutsche Bank Center (also known as One Columbus Circle and formerly Time Warner Center) is a mixed-use building on Columbus Circle in Manhattan, New York City, United States. The building occupies the western side of Columbus Circle and strad ...

. In 1986, the company completed 599 Lexington Avenue, its first development in

. In 1990, the company began construction of the NASA Headquarters. It was sold to Hana Financial Group in 2002. In June 1997, the company became a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. In October 1997, the company acquired 100 East Pratt Street. In 1998, it acquired

Embarcadero Center Embarcadero Center is a commercial complex of four office towers, two hotels, and a shopping center located in San Francisco. An outdoor ice skating rink is open in the center during winter months. Embarcadero Center sits on a site largely bo ...

for about $1.22 billion and bought the

Prudential Tower The Prudential Tower, also known as the Prudential Building or, colloquially, the Pru,subscription required The Pru' everyone calls it: a resigned shrug of a name, as flat and uninflected as the wan moue its pronunciation requires." is an Interna ...

and The Shops at Prudential Center, both in Boston, for $519 million. In 2000 and 2001, the company completed development of several office buildings in Reston Town Center. From 2002 to 2005, it built 901 New York Avenue NW in

In June 2008, the company acquired the General Motors Building in

for $2.8 billion, the highest paid for an American office building. In October 2010, the company acquired 200 Clarendon Street (formerly the John Hancock Tower) for $930 million. In 2012, the company partnered with Hines Interests Limited Partnership to develop the

Salesforce Tower Salesforce Tower, formerly known as Transbay Tower, is a 61-story supertall skyscraper at 415 Mission Street, between First and Fremont Street, in the South of Market, San Francisco, South of Market district of downtown San Francisco. Its main ...

. By 2019, it had acquired 100% of the property.

References

External links

* {{Authority control, state=expanded Companies listed on the New York Stock Exchange Real estate companies established in 1970 Real estate investment trusts of the United States Companies based in Boston Property management companies 1970 establishments in Massachusetts 1997 initial public offerings