Boston Properties, Inc. (NYSE: BXP) is a self-managed real estate investment trust (REIT) based in Boston, Massachusetts. Its primary focus is "Class A" office space which it acquires, develops, and manages in the major markets of Boston, New York City, Washington, D.C., and San Francisco. The company specializes in High Performance Workspace and has acquired several high-value properties in these markets, including the General Motors Building in New York City for $2.8 billion, the highest paid for an American office building. It also owns two hotel properties.
It was founded in 1970 by Mortimer Zuckerman and Edward H. Linde, and became listed in June 1997.
In 2005, it constructed 901 New York Avenue NW in Washington, D.C., helping to revitalize the Mount Vernon Square neighborhood just seven blocks northeast of the White House.
In October 2010, Boston Properties bought the John Hancock Tower and Garage from a partnership between Normandy Real Estate Partners & Five Mile Capital Partners for $930 million.
Famous quotes containing the words boston and/or properties:
“Tonight I appear for the first time before a Boston audience—4,000 critics.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“The reason why men enter into society, is the preservation of their property; and the end why they choose and authorize a legislative, is, that there may be laws made, and rules set, as guards and fences to the properties of all the members of the society: to limit the power, and moderate the dominion, of every part and member of the society.”
—John Locke (1632–1704)