Boston Properties Reports $734M Revenue in Q2 2019
Publicly-traded developer, owner and manager Boston Properties reported total revenue of $733.7 million in the second quarter of 2019, up 10% from the $664.5 million in the second quarter of 2018.
The Boston-based firm also increased its full year 2019 EPS guidance by approximately $0.36 per share at the mid-point, and increased its full year 2019 FFO guidance by approximately $0.06 per share at the mid-point compared to guidance provided on April 30, 2019.
Second quarter highlights for Boston Properties included increasing the company’s office portfolio occupancy to 93.4%, and commencing development of its 16-story, 420,000-square-foot 325 Main Street development project at Kendall Center in Cambridge, which is 90% pre-leased to Google.
*Pictured above is a rendering of Boston Properties’ 325 Main Street development.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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