Real estate company
Boston Properties, Inc. is a publicly traded
real estate investment trust that invests in premier workplaces in
Boston,
Los Angeles,
New York City,
San Francisco,
Seattle, and
Washington, D.C. As of December 31, 2023, the company owned or had interests in 188 commercial real estate properties, aggregating approximately 53.3 million net rentable square feet.
[1]
History
The company was founded in 1970 by
Mortimer B. Zuckerman and
Edward H. Linde in
Boston.
[2]
In 1985, the company outbid
Donald Trump to re-develop the
New York Coliseum at
Columbus Circle. However the company did not proceed with development and sold the property, it is now the site of the
Time Warner Center.
[3] In 1986, the company completed
599 Lexington Avenue, its first development in New York City.
[4]
In 1990, the company began construction of the
NASA Headquarters.
[5] It was sold to
Hana Financial Group in 2002.
[6]
In June 1997, the company became a
public company via an
initial public offering.
[7] In October 1997, the company acquired
100 East Pratt Street.
[8]
In 1998, it acquired
Embarcadero Center for about $1.22 billion and acquired
Prudential Tower and
The Shops at Prudential Center for $519 million.
[9]
In 2000 and 2001, the company completed development of several office buildings in
Reston Town Center. From 2002 to 2005, it constructed
901 New York Avenue NW in
Washington, D.C.
[10]
In June 2008, the company acquired the
General Motors Building in
New York City for $2.8 billion, the highest paid for an American office building.
[11]
In October 2010, the company acquired
200 Clarendon Street (formerly John Hancock Tower) for $930 million.
[12]
In 2012, the company partnered with
Hines Interests Limited Partnership to develop
Salesforce Tower.
[13] By 2019, it had acquired 100% of the property.
References
- ^
a
b
"Boston Properties, Inc. 2023 Form 10-K Annual Report".
U.S. Securities and Exchange Commission. December 31, 2023. Retrieved August 29, 2023.
-
^ Hevesi, Dennis (January 19, 2010).
"Edward H. Linde, Co-Founder of Boston Properties, Dies at 68". The New York Times.
ISSN
0362-4331.
Archived from the original on January 28, 2021. Retrieved January 21, 2021.
-
^ Brenner, Marie (September 1, 1990).
"After the Gold Rush".
Vanity Fair.
Archived from the original on July 26, 2017. Retrieved August 29, 2023.
-
^ Depalma, Anthony (December 7, 1986).
"In a New Tower, a Waiting Rental Strategy Works".
The New York Times.
Archived from the original on August 27, 2021. Retrieved December 6, 2019.
-
^ Hilzenrath, David S. (June 19, 1990).
"NASA Building Construction Delayed".
The Washington Post.
Archived from the original on December 6, 2019. Retrieved December 6, 2019.
-
^ Kalinoski, Gail (July 17, 2017).
"S. Korean Investment Firm Buys NASA HQ in DC". Commercial Property Executive. Retrieved July 29, 2018.
-
^
"Boston Properties completes IPO".
American City Business Journals. June 24, 1997.
Archived from the original on March 22, 2024. Retrieved December 6, 2019.
-
^ McQuaid, Kevin L. (October 24, 1997).
"Boston group purchases IBM building 28-story office tower at 100 E. Pratt St. sells for $137 million; Record price in Baltimore; Building's location near Inner Harbor was factor in pricing; Commercial real estate".
The Baltimore Sun.
Archived from the original on December 6, 2019. Retrieved December 6, 2019.
-
^ Kirkpatrick, David D. (May 12, 1998).
"Boston Properties Buys Twin Trophies Embarcadero and Prudential Center".
The Wall Street Journal.
Archived from the original on December 6, 2019. Retrieved December 6, 2019.
-
^ White, Suzanne (March 19, 2002).
"Boston Properties signs anchor tenant at 901 New York".
American City Business Journals.
Archived from the original on December 6, 2014. Retrieved December 6, 2019.
-
^
"Boston Properties Forms Joint Venture and Completes Acquisition of the General Motors Building" (Press release). Boston Properties. June 10, 2008.
Archived from the original on August 3, 2022. Retrieved December 6, 2019.
-
^ Grillo, Thomas (October 4, 2010).
"Boston Properties buys John Hancock Tower for $930M".
The Boston Herald.
Archived from the original on December 6, 2019. Retrieved December 6, 2019.
-
^ Littman, Julie (January 22, 2018).
"What It Took To Make Salesforce Tower A Reality".
Bisnow Media.
Archived from the original on December 6, 2019. Retrieved December 6, 2019.
External links