BXP(NYSE) BXP

BXP, Inc. provides high-quality workspaces for businesses in major American cities. It helps companies recruit top talent by offering modern office environments. The company builds and manages professional properties to support productive work.

Where Business Meets Design

• CBD Premier Workplaces: High-quality office buildings located in central business districts (CBDs); accounts for the majority of the property portfolio.
• Life Sciences Facilities: Specialized laboratory and research spaces; includes the 572,578 square foot property at 290 Binney Street.
• Residential Units: Multi-family housing projects; includes the 359-unit development under construction in Herndon, Virginia.
• Management Services: Property management, leasing, and development services for third parties; generates fee income from unconsolidated joint ventures.

Building for the Future

• Fully placed in-service 290 Binney Street in Cambridge, Massachusetts, a laboratory property 100% leased to AstraZeneca, during the three-month period ended June 30, 2026.
• Commenced the redevelopment of Reservoir Place in Waltham, Massachusetts, to house robotics and innovation firms during the six-month period ended June 30, 2026.
• Formed a joint venture to develop a 359-unit residential project in Herndon, Virginia, during the six-month period ended June 30, 2026.
• Closed a $1.2 billion construction loan on July 28, 2026, to fund the development of 343 Madison Avenue in New York City.
• Generated approximately $432 million in net sale proceeds since Jan. 1, 2026, through its strategic asset sales plan.

What Sets the Stage

BXP operates as a Real Estate Investment Trust (REIT) focused on premier workspaces in six major United States gateway markets. The company maintains a competitive advantage by developing and managing modern, well-amenitized buildings that attract creditworthy clients and command upper-tier rental rates.

Measuring the Results

• Net Operating Income reached $1.04 billion in the six-month period ended June 30, 2026, up 1.8% year over year.
• Total Rental Revenue was $1.71 billion in the six-month period ended June 30, 2026, up 3.2% year over year.
• Net income attributable to BXP was $170.2 million in the six-month period ended June 30, 2026, up 13.3% year over year.
• General and administrative expense was $109.8 million in the six-month period ended June 30, 2026, up 15.8% year over year.

The Big Picture

BXP has transitioned toward high-demand premier office and life science spaces while recycling capital through strategic asset sales. This focus on quality and disciplined development helps the company navigate shifts in the national office market.