FFO Performance Exceeds Expectations
BXP's FFO per share was $0.05 above their forecast and $0.04 above market consensus for Q2 2025, driven by improved operations. The company also raised the midpoint of its earnings guidance for the full year 2025 by $0.02.
Leasing Activity Increase
BXP completed over 1.1 million square feet of leasing in Q2, bringing the total for 2025 to 2.2 million square feet. The leasing volume for the last four quarters was 18% higher than the previous four quarters.
Strong Office Market Recovery
Office sales volume increased materially in Q2 to $14.2 billion, up 80% from the prior quarter and 125% from the same quarter last year. Financing is increasingly available at tightening spreads for higher-quality office assets.
343 Madison Avenue Project Progress
BXP is proceeding with the 343 Madison Avenue project, with an anchor client committing to approximately 30% of the building. The company is buying out its 45% equity joint venture partner.