BOSTON--(BUSINESS WIRE)--Jan. 23, 2019--
Properties, Inc. (NYSE: BXP), one of the largest
publicly-traded developers, owners and managers of Class A office
properties in the United States, today announced that it has signed two
additional long-term leases totaling 250,000 square feet at its 399 Park
Avenue property, located in midtown New York City.
The two new leases have an average lease term of more than 15 years and
include an existing tenant that has extended and expanded its current
lease, and a lease with a new tenant that absorbs near-term expiring
space. These two leases follow Boston Properties’ recently-announced
300,000 square foot lease with a leading investment management firm,
bringing total recent leasing at 399 Park Avenue to more than 550,000
square feet. 399 Park Avenue is now 93% leased.
“This strong leasing activity underscores the value of 399 Park Avenue
as a premier Class A office property located in one of the most
desirable locations in New York City. The new tenants at 399 Park Avenue
are part of a growing roster of clients that seek exceptional workspaces
in the east side of midtown Manhattan to support their growing
workforces,” said John Powers, Executive Vice President, New York
Region, 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 52.7 million square feet and 200 properties, including
fourteen properties under construction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190123005777/en/
Source: Boston Properties, Inc.
AT THE COMPANY
Chief Financial Officer and Treasurer
Vice President, Investor Relations