New Boston Properties Building Expands Relationship with Google in
Kendall Square
BOSTON--(BUSINESS WIRE)--Feb. 14, 2019--
Boston
Properties, Inc. (NYSE: BXP), one of the largest
publicly-traded developers, owners and managers of Class A office
properties in the United States, announced today that Google, LLC. has
signed a 15-year lease agreement for the ground-up redevelopment of
Boston Properties’ 325 Main Street building in Kendall Center,
Cambridge, Massachusetts. Google will occupy 362,000 square feet of the
building, which will serve as additional office space for Google’s
growing Cambridge office. The lease agreement brings Google’s total
leased space from Boston Properties to more than 800,000 square feet in
Cambridge.
“We’re thrilled that Google continues to grow within our Kendall Center
properties,” stated Bryan Koop, Executive Vice President, Boston Region
for Boston Properties. “Their presence adds to the dynamic innovative
spirit of the Kendall Square ecosystem and we look forward to building
Google’s newest home.”
The new, 16-story building at 325 Main Street will be approximately
400,000 rentable square feet (including a retail component) and will
replace the existing, four-story, approximately 115,000 square foot
building currently on site. Construction is expected to commence later
this year and be completed in 2022. As part of the redevelopment, Boston
Properties will provide significant public realm enhancements including
increased visibility and access to the Kendall Square Roof Garden,
improved pedestrian experience along Main Street and on the adjacent
Kendall Plaza, and increased programming at the Roof Garden and on the
Plaza.
“Google opened its first office in Cambridge back in 2003 and fifteen
years later, we’ve grown to over 1,500 employees, working on major
projects like Search, Android, Cloud, YouTube, Google Play, Research,
Ads and more,” said Google Cambridge Site Lead Brian Cusack. “This new
space will provide room for future growth and further cements our
commitment to the Cambridge community. We’re proud to call this city
home and will continue to support its vibrant nonprofit and growing
business community.”
Boston Properties has been active in the Cambridge community since the
late 1970’s, when Boston Properties was designated the master developer
of the Kendall Center redevelopment project (then known as Cambridge
Center). Since that time, the Company has developed more than two
million square feet of office, hotel, and residential properties and has
created a vibrant public space programming plan throughout its
properties in Kendall Square.
“Google’s election to expand within our Kendall Center property reflects
our ability to develop and manage high-quality, creative and productive
workspaces that meet the growing needs of the world’s most innovative
companies. At the same time, we are enriching the local communities we
serve by providing significant public realm and public programming
enhancements,” said Owen Thomas, CEO of Boston Properties.
Boston Properties (NYSE: BXP) is one of the largest publicly-traded
developers, owners and managers of Class A office properties in the
United States, concentrated in five markets - Boston, Los Angeles, New
York, San Francisco and Washington, DC. The Company is a fully
integrated real estate company, organized as a real estate investment
trust (REIT), that develops, manages, operates, acquires and owns a
diverse portfolio of primarily Class A office space. The Company’s
portfolio totals 51.6 million square feet and 197 properties, including
eleven properties under construction
View source version on businesswire.com: https://www.businesswire.com/news/home/20190214005906/en/
Source: Boston Properties, Inc.
Laura Sesody
Boston Properties
lmarchisi@bostonproperties.com
617-236-3305
Sara
Buda
Boston Properties Investor Relations
sbuda@bostonproperties.com
617-236-3429