BXP, Inc., formerly known as Boston Properties, is the largest publicly traded developer, owner, and manager of premier Class A office properties in the United States. Operating as a fully integrated real estate investment trust (REIT), BXP generates revenue primarily through long-term leases of its premium office spaces, collecting rent and passing through operating expenses to its tenants. The company's portfolio spans over 50 million net rentable square feet across roughly 180 commercial real estate properties. BXP strategically concentrates its footprint in six highly sought-after, supply-constrained gateway markets: Boston, Los Angeles, New York City, San Francisco, Seattle, and Washington, D.C.
The company's business model is centered on a 'flight to quality' strategy, targeting top-tier corporate clients, including leading technology firms, financial services institutions, law firms, and government-related entities. In addition to its core office leasing operations, BXP has exposure to complementary asset types, including life sciences and retail properties integrated within its mixed-use developments. The company actively manages its portfolio through strategic acquisitions, large-scale developments, and periodic asset recycling to optimize its balance sheet and drive funds from operations (FFO) growth. BXP's competitive position is bolstered by its extensive scale, deep regional expertise, and ability to attract high-credit-quality tenants seeking premium, sustainable, and amenity-rich urban workspaces.
