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BXP Closes In On Next D.C. Office Development As It Shrinks Assets
['Emily Wishingrad', 'Washington']
Bisnow Content Feed
BXP is nearing its third deal in two years to build a trophy office project in the city, executives disclosed on the company’s second-quarter earnings call Wednesday.
Those developments, set to deliver in 2029 and 2031, respectively, are the only office development projects known to be underway in the city.
The REIT has two D.C. office buildings under contract to sell, scheduled to close next quarter, BXP Chairman and CEO Owen Thomas said.
“With the expected sale of two office assets, we are shrinking our District portfolio prior to adding our newly leased development,” Linde said.
In its Tuesday earnings release, BXP alluded to the “anticipated disposition” of the 210K SF property.