Boston Properties, Inc. Receives Boma New York Award For 599 Lexington Avenue
NEW YORK, NY, March 11, 1999 -- Boston Properties (NYSE: BXP), a self-managed and self-advised real estate investment trust (REIT), today announced that 599 Lexington Avenue, its flagship property in Midtown Manhattan, has received the BOMA New York 1998-1999 Award for Excellence as the Operating Office Building of the Year. The award recognized the 50-story, 1-million-square-foot Class A property for its physical attractiveness, efficiency of operation and the impact on the New York business community. Boston Properties also won in the same category for the Middle Atlantic Region, qualifying it for BOMA's national and international competitions.
Boston Properties Senior Vice President Robert E. Selsam commented, "We are honored to receive this prestigious award from our peers. 599 Lexington Avenue is a prime example of how Boston Properties actively manages its properties. The Company prides itself on both the appearance of its buildings and on its commitment to tenants' satisfaction." Located directly across from Citicorp Center, the building includes 13,445 square feet of ground floor retail space, has an on-site subway portal and is convenient to shopping, restaurants and hotels. The property is currently 100% leased and major tenants include Citibank, Shearman & Sterling and Jones, Day, Reavis & Pogue.
BOMA (Building Owners and Managers Association) is an industry association that promotes programs and services, while serving as a resource, for the advancement of the commercial office building industry.
Boston Properties, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of office, industrial and hotel properties predominantly located in Greater Boston, Midtown Manhattan, Greater Washington, D.C., San Francisco, California, Princeton/East Brunswick, New Jersey, Richmond, Virginia and Baltimore, Maryland. The Company is one of the largest owners and developers of office properties in the United States.
To receive Boston Properties' latest news and corporate developments via fax at no cost, please call 1-800-PRO-INFO; use company code BXP. Visit the Company's web site at http://www.bostonproperties.com. Also see http://www.frbinc.com.
AT THE COMPANY:
Robert E. Selsam - Senior Vice President
(212) 326-4000
AT THE FINANCIAL RELATIONS BOARD:
Judith Sylk-Siegel - Media (212) 661-8030