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14:00
Jul 29 ◎

BXP FY2026 Q2 Watch

BXP, Inc. (BXP) FY2026 Q2 Earnings Call

STRIPE AZN ANDURIL BXP ▾

Doug Linde

Stripe is expanding its office footprint in Seattle, indicating growth and a need for more physical space.

"This included a 44,000 square foot expansion by Stripe, following on our demand theme"

STRIPE WATCH

Owen Thomas

AstraZeneca is a fully committed tenant for the delivered life sciences building in Cambridge.

"This quarter we delivered into service 290 Binney Street, a 570,000 square foot lab building fully leased to AstraZeneca"

AZN WATCH

Doug Linde

BXP has previously delivered a similar full-building redevelopment for defense tech company Anduril, highlighting this as a repeat business model.

"First, we did it with Anduril at a building that was out of service called 1050 Winter Street"

ANDURIL WATCH

Mike LaBelle

The outlook is strongly positive, driven by accelerated leasing, rising occupancy (88.4%), and strong progress on the strategic plan, leading to raised full-year guidance.

"we are raising our guidance for FFO by 5 cents per share at the midpoint by bringing up the bottom end by $0.09 to $6.99 per share and the top end of our range by a penny to $7.05 per share."

BXP WATCH

HIGH

14:00
Apr 29 ◎

BXP FY2026 Q1 Watch

BXP, Inc. (BXP) FY2026 Q1 Earnings Call

DATABRICKS PERPLEXITY SNOW MAR AZN ▾

Doug Linde

Databricks is one of many expanding AI firms that are leasing space from BXP, contributing to strong occupancy gains.

"Databricks, Perplexity, Decagon, Harvey AI, Sierra AI, Snowflake, to name a few, with Decagon and Snowflake being new tenants in the BXP roster."

DATABRICKS WATCH

Doug Linde

Perplexity AI is among the AI companies expanding in BXP markets, representing a new source of demand.

"Databricks, Perplexity, Decagon, Harvey AI, Sierra AI, Snowflake, to name a few, with Decagon and Snowflake being new tenants in the BXP roster."

PERPLEXITY WATCH

Doug Linde

Snowflake is a new tenant in BXP's portfolio, indicating that established tech firms are also expanding office footprint.

"Databricks, Perplexity, Decagon, Harvey AI, Sierra AI, Snowflake, to name a few, with Decagon and Snowflake being new tenants in the BXP roster."

SNOW WATCH

Owen Thomas

BXP sold its stake in a building fully leased to Marriott, highlighting the strong value of such stabilized assets in the current market.

"The 743,000 square foot building is fully leased to Marriott and sold for a gross price of $430 million or $589 a square foot and a 6.8% initial cap rate."

MAR WATCH

Mike LaBelle

AstraZeneca has started paying rent on BXP's development ahead of schedule, a positive sign for the delivery and cash flow of the project.

"AstraZeneca already commenced cash rent payments as of April 1st, and we expect to deliver the project by June 1st at the latest."

AZN WATCH

Doug Linde

OpenAI and Anthropic are among the most significant drivers of new office demand in San Francisco and New York, contributing to BXP's leasing momentum.

"Open AI and Anthropic are clearly the most recognizable expansions. but there are many meaningful space occupiers expanding across our markets."

OPENAI WATCH

Doug Linde

Anthropic is a major new tenant driving demand for premier office space in BXP's markets, particularly San Francisco.

"Open AI and Anthropic are clearly the most recognizable expansions. but there are many meaningful space occupiers expanding across our markets."

ANTHROPIC WATCH

Owen Thomas

BXP's guidance tone is positive, with strong leasing momentum, an expanding development pipeline, and progress on disposals, all supporting the company's occupancy and FFO growth targets.

"BXP remains comfortably on track with our business plan, which, if successful, will lead to increasing portfolio occupancy and FFO per share, deleveraging, external growth from development, and a more highly concentrated CBD and premier"

BXP WATCH

HIGH

15:00
Jan 28 ◎

BXP FY2025 Q4 Watch

BXP, Inc. (BXP) FY2025 Q4 Earnings Call

AZN BXP ▾

Mike LaBelle

AstraZeneca is the anchor tenant for BXP's largest 2026 development delivery, providing stable, contracted NOI growth.

"The most meaningful development that will impact 2026 is our 573,000 square foot, 290 Benny Street life science project in Cambridge that is 100% leased to AstraZeneca."

AZN WATCH

Mike LaBelle

Management gave a positive outlook for 2026 with FFO growth driven by occupancy gains, development deliveries, and lower interest expense, setting up a stronger 2027.

"2026 represents a return to FFO growth for BXB. We expect our quarterly FFO run rate to consistently improve through 2026, leading us to a strong base for 2027."

BXP WATCH

HIGH

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