Boston Properties, Inc. is a publicly traded real estate investment trust that invests in premier workplaces in Boston, Los Angeles, New York City, San Francisco, Seattle, and Washington, D.C. 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.[1]
 | |
| Company type | Public |
|---|---|
|
| |
| Industry | Real estate |
| Founded | 1970; 54 years ago (1970) |
| Founders |
|
| Headquarters | Boston, Massachusetts, U.S. |
Key people |
|
| Revenue |  US$3.274 billion (2023) |
| US$291 million (2023) | |
| Total assets | US$26.026 billion (2023) |
| Total equity | US$8.877 billion (2023) |
Number of employees | 836 (2023) |
| Website | bxp |
| Footnotes / references Financials as of December 31, 2023[update]. References:[1] | |
The company was founded in 1970 by Mortimer B. Zuckerman and Edward H. LindeinBoston.[2]
In 1985, the company outbid Donald Trump to re-develop the New York ColiseumatColumbus Circle. However the company did not proceed with development and sold the property, it is now the site of the Time Warner Center.[3] In 1986, the company completed 599 Lexington Avenue, its first development in New York City.[4]
In 1990, the company began construction of the NASA Headquarters.[5] It was sold to Hana Financial Group in 2002.[6]
In June 1997, the company became a public company via an initial public offering.[7] In October 1997, the company acquired 100 East Pratt Street.[8]
In 1998, it acquired Embarcadero Center for about $1.22 billion and acquired Prudential Tower and The Shops at Prudential Center for $519 million.[9]
In 2000 and 2001, the company completed development of several office buildings in Reston Town Center. From 2002 to 2005, it constructed 901 New York Avenue NW in Washington, D.C.[10]
In June 2008, the company acquired the General Motors BuildinginNew York City for $2.8 billion, the highest paid for an American office building.[11]
In October 2010, the company acquired 200 Clarendon Street (formerly John Hancock Tower) for $930 million.[12]
In 2012, the company partnered with Hines Interests Limited Partnership to develop Salesforce Tower.[13] By 2019, it had acquired 100% of the property.
