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Boston Properties Acquires 880 and 890 Winter Street in Waltham, Massachusetts

09/09/19

Expands the Company‘s Presence in Boston’s Dynamic Suburb to meet Growing Demand for Class A Space

BOSTON--(BUSINESS WIRE)--Sep. 9, 2019-- Boston Properties, Inc.(NYSE: BXP), the largest publicly-traded developer, owner and manager of Class A office properties in the United States, announced today that it has acquired 880 and 890 Winter Street, a two-building, class A office campus totaling 392,600 square-feet for a gross purchase price of $106 million in cash. The 28-acre property is adjacent to Boston Properties’ one million square foot, 58-acre Bay Colony property in Waltham, Massachusetts. 880 and 890 Winter Street are currently 82% leased to approximately 24 companies primarily in the healthcare, technology, services and energy infrastructure sectors.

Boston Properties is the largest owner and manager of Class A office space in Waltham, Massachusetts, with holdings totaling more than 4.0 million square feet, and has been a leading developer in the community for five decades. The Company owns and actively manages approximately 5.0 million square feet along the Route 128/Interstate 95 corridor in the Boston suburbs, where hundreds of growing biotechnology, life sciences and technology companies choose to locate.

“Waltham continues to be one of the region’s most desirable urban edge locations for organizations that want to attract and retain highly-educated associates,” said Bryan Koop, Executive Vice President, Boston Region, Boston Properties. “The 880 and 890 Winter Street campus provides both location and amenities that offer long term value for current and prospective tenants and is another example of Boston Properties’ commitment to providing our customers with great space and place to grow their businesses.”

Existing on-site amenities include two cafés, a large, landscaped outdoor seating area, a fitness center, a conference center and abundant parking.

About Boston Properties

Boston Properties (NYSE: BXP) is the largest publicly-held developer and owner 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 50.9 million square feet and 193 properties, including 12 properties under construction.

Source: Boston Properties, Inc.

AT THE COMPANY
Mike LaBelle
Executive Vice President
Chief Financial Officer and Treasurer
mlabelle@bxp.com

Sara Buda
Vice President, Investor Relations
sbuda@bxp.com
617.236.3429