{"id":1004741560,"date":"2024-12-20T05:21:16","date_gmt":"2024-12-20T13:21:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004741560"},"modified":"2024-12-23T00:59:28","modified_gmt":"2024-12-23T08:59:28","slug":"bxp-lands-400-ksf-lease-renewal-at-boston-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/","title":{"rendered":"BXP Lands 400 KSF Lease Renewal at Boston Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"800\" data-attachment-id=\"1004741561\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/attachment\/11920\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"BXP-Prudential-Tower\" data-image-description=\"&lt;p&gt;Property at 800 Boylston St., Boston&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Prudential Tower, the second tallest Boston office building, debuted in 1965. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg\" alt=\"Outside shot of BXP's Prudential Tower, an office building in Boston\" class=\"wp-image-1004741561\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">Prudential Tower, the second-tallest Boston office building, debuted in 1965. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>BXP has inked a 413,000-square-foot office lease renewal with Ropes &amp; Gray at the Prudential Tower, a 1.2 million-square-foot building in Boston. The law firm will occupy the space through 2041.<\/p>\n\n\n\n<p>Ropes &amp; Gray moved into the upper floors of the high-rise in the fall of 2010. BXP\u2019s headquarters is within its own tower, occupying 25,000 square feet, according to CommercialEdge data.<\/p>\n\n\n\n<p>Additional tenants include Federal Home Loan Bank of Boston (39,185 square feet) and Big Pine Capital (17,000 square feet). The tower was 97.9 percent leased as of September, according to BXP\u2019s supplement for 2024\u2019s third quarter.<\/p>\n\n\n\n<p>The 52-story tower at 800 Boylston St. debuted in 1965, featuring 28,500-square-foot floorplates. At 749 feet, it is the second-tallest office building in Boston after the 790-foot-tall tower at 200 Clarendon St., which is also owned by BXP, the same source shows. BXP, formerly Boston Properties, acquired Prudential Tower in 1998 for $388 million.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-november-2024-commercialedge\/\">Office Report: Office Sector Decline Continues Amid Flexibility Shift<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The office high-rise is the largest property within the Prudential Center, a five-building, 3.6 million-square-foot office campus including 653,000 square feet of retail and about 3 million square feet of office space. The Center is within walking distance of the Charles River and about 2 miles from downtown Boston.<\/p>\n\n\n\n<p>Prudential Center includes amenities such as a post office, car wash, direct connection with the Green Line MBTA station, as well as a 3,000-space parking garage, among others.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-greater-boston-s-office-leasing-activity-picks-up-the-pace\">Greater Boston&#8217;s office leasing activity picks up the pace<\/h2>\n\n\n\n<p>Metro Boston witnessed a growth in aggregate office leasing activity for the third quarter in a row, with the figure clocking in at 1.9 million square feet from June to September and besting the previous quarter by 31 percent, according to a report by Avison Young.<\/p>\n\n\n\n<p>The City on a Hill\u2019s office availability rate stood at 28 percent in September, unmoved from June, the same source reveals. This marked the first time the index didn\u2019t rise since 2022\u2019s third quarter. Trophy buildings fared significantly better, with a rate of 17.3 percent.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.commercialsearch.com\/news\/sizing-up-the-prime-office-building-landscape\/\">prime office space<\/a> of trophy buildings was in high demand, accounting for 22 percent of all leasing activity during the third quarter, Avison Young shows. The figure was just 6 percent the previous quarter.<\/p>\n\n\n\n<p>As <a href=\"https:\/\/www.commercialsearch.com\/news\/rto-policies-mostly-go-unenforced-cbre\/\">return-to-office policies<\/a> continue to evolve, Greater Boston\u2019s Friday office visitations spiked 35 percent year-over-year through August, the report points out. The overall office visitation rate remained resilient, improving by 1.5 percent during the same period and reaching 57.3 percent of prepandemic levels in August.<\/p>\n\n\n\n<p>BXP landed another lease renewal this summer when Bain Capital doubled down on its <a href=\"https:\/\/www.commercialsearch.com\/news\/bain-inks-378-ksf-office-renewal-and-expansion-in-boston\/\">378,000-square-foot agreement<\/a> at 200 Clarendon St., formerly John Hancock Tower. The asset was 99 percent leased in September, BXP\u2019s supplement shows.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A law firm will occupy the space through 2041.<\/p>\n","protected":false},"author":3471,"featured_media":1004741562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21742,10,21747],"tags":[52299],"class_list":["post-1004741560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-latest","category-northeast","category-office","tag-bxp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BXP Lands 400 KSF Lease Renewal at Boston Tower - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BXP signed a 413,000-square-foot office lease renewal with law firm Ropes &amp; Gray at the Prudential Tower in Boston.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BXP Lands 400 KSF Lease Renewal at Boston Tower\" \/>\n<meta property=\"og:description\" content=\"BXP signed a 413,000-square-foot office lease renewal with law firm Ropes &amp; Gray at the Prudential Tower in Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-20T13:21:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-23T08:59:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/\",\"name\":\"BXP Lands 400 KSF Lease Renewal at Boston Tower - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920-1.jpg\",\"datePublished\":\"2024-12-20T13:21:16+00:00\",\"dateModified\":\"2024-12-23T08:59:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"BXP signed a 413,000-square-foot office lease renewal with law firm Ropes & Gray at the Prudential Tower in Boston.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bxp-lands-400-ksf-lease-renewal-at-boston-tower\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/11920-1.jpg\",\"width\":640,\"height\":480,\"caption\":\"Prudential Tower, the second tallest Boston office building, debuted in 1965. 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