BOSTON--(BUSINESS WIRE)--Feb. 28, 2018--
Boston
Properties, Inc. (NYSE: BXP), one of the largest public
owners and developers of office buildings in the United States,
announced today that it has entered into a binding lease agreement with
Fannie Mae at its Reston Gateway project in Reston, Virginia. Under the
terms of the agreement, Fannie Mae will lease approximately 850,000
rentable square feet out of approximately 1,000,000 rentable square feet
to be constructed on the Reston Gateway property. Fannie Mae intends to
occupy the buildings beginning in 2022. Reston Gateway is intended to be
developed in multiple phases and could ultimately contain as much as 3.5
million rentable square feet of mixed-use, transit-oriented development.
Reston Gateway is located adjacent to the Reston Town Center Metro
Station on the Silver Line of the Metro, which is currently under
construction and scheduled for completion in early 2020.
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Reston Gateway Conceptual Rendering, courtesy of Duda Paine Architects (Photo: Business Wire)
“Reston Town Center, a dynamic, 24-7, mixed-use environment, remains the
ideal place to recruit, retain, and motivate world-class talent. We
couldn’t be more pleased to have been chosen for this important
assignment, and we thank Fannie Mae and their advisors for their
confidence in BXP,” said Boston Properties’ Senior Vice President, Peter
Otteni.
Boston Properties is a fully integrated real estate investment trust
that develops, redevelops, acquires, manages, operates and owns a
diverse portfolio of primarily Class A office space totaling 50.3
million square feet and consisting of 167 office properties (including
eight properties under construction), six residential properties
(including four properties under construction), five retail properties
and one hotel. The Company is one of the largest owners and developers
of Class A office properties in the United States, concentrated in five
markets - Boston, Los Angeles, New York, San Francisco and Washington,
DC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180228006459/en/
Source: Boston Properties, Inc.
Boston Properties, Inc.
Michael LaBelle, 617-236-3352
Executive
Vice President, Chief Financial Officer and Treasurer
or
Arista
Joyner, 617-236-3343
Investor Relations Manager