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BXP Sees Best Q3 for Leasing Since 2019

BXP said it signed more than 1.5 million square feet of leases in the third quarter of 2025 with a weighted-average lease term of 7.9 years. The tally represents the Boston-based REIT’s strongest Q3 of leasing since 2019 and a 38% increase year-over-year. Year-to-date leasing activity totals approximately 3.8 million square feet.

In BXP’s backyard of downtown Boston, Q3 saw more than 200,000 square feet of leasing. BXP’s occupancy rate downtown is 97%. The Manhattan portfolio registered 475,000 square feet of deals, while a 50,000-square-foot lease in Reston, VA brought Reston Town Center to 98% leased.

“BXP continues to see strong demand in and to secure additional market share with our premier workplace portfolio,” said Owen Thomas, chairman and CEO, BXP. “Clients value our well-located, high-quality, highly amenitized properties and continue to make long-term commitments to occupy our properties to support business success.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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