Boston Properties Leases 1.8M-SF in Q4 2021
The firm's leasing activity, executed across various major markets, represents a 55% increase from Q4 2020.
BOSTON, MA – Developer, owner and manager of class A office properties, Boston Properties Inc. executed 1.8 million square feet of leases in Q4 2021, with a weighted-average lease term of 8.6 years.
The activity brings Boston Properties’ total 2021 leasing activity to approximately 5.1 million square feet.
The firm’s Q4 2021 leasing activity represents a 55% increase from Q4 2020.
The Q4 2021 leasing activity was completed across a variety of major markets. More than 25% of the leased 1.8 million square feet of space was leased to life sciences clients.
The company’s Q4 leasing activity included, a 231,000-square-foot lease for an entire life science building at 751 Gateway in South San Francisco, CA; 165,000 square feet of new leases at a life science development at 880 Winter St. in Waltham, MA; a 120,000-square-foot lease at 1265 Main St. in Waltham, MA; a 108,000-square-foot lease at Times Square Tower in New York City; an 89,000-square-foot lease extension at 601 Lexington Ave. in New York City; an 89,000-square-foot lease at Reston Town Center in Reston, VA; and a 78,000-square-foot lease at 510 Carnegie Center in Princeton, NJ.
Boston Properties’ leasing activity steadily increased throughout last year. The company’s Q4 activity achieved the largest square footage leased since Q3 2019, when the firm leased two million square feet.
“The strong leasing momentum we experienced in the fourth quarter underscores the value companies place on securing high-quality workspaces essential for collaboration, innovation, and growth,” states Owen Thomas, CEO of Boston Properties.