Boston Properties, Inc., a self-administered and self-managed American real estate investment trust (REIT), is one of the largest owners, managers and developers of Class A office properties in the United States, with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, Massachusetts, where it maintains its headquarters. Boston Properties became a public company in June 1997 and is traded on the New York Stock Exchange under the symbol “BXP.”
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 47.7 million square feet and consisting of 164 office properties (including six properties under construction), five retail properties, four residential properties (including two properties under construction) and one hotel. Boston Properties is well-known for its in-house building management expertise and responsiveness to tenants’ needs. The Company holds a superior track record in developing premium Central Business District (CBD) office buildings, suburban office centers and build-to-suit projects for the U.S. government and a diverse array of creditworthy tenants.
The company specializes in high-performance workspace and acquired several high-value properties in these markets, including the General Motors Building in New York City for US$2.8 billion, the highest paid for an American office building. It also owns one hotel property and is a member of REBNY.
In 2005, it constructed 901 New York Avenue NW in Washington, D.C. in the Mount Vernon Square neighborhood seven blocks northeast of the White House.
In October 2010, Boston Properties bought the John Hancock Tower and Garage from a partnership between Normandy Real Estate Partners & Five Mile Capital Partners for $930 million.