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XP, the largest publicly traded developer and manager of premier workplaces in the US, reported strong leasing activity in early 2025. The company signed over 1.1 million square feet of leases in Q1 2025, a 25% increase from the same period in 2024. Including additional deals completed after the quarter's close, total leasing activity for 2025 has reached approximately 1.4 million square feet.

    According to Owen Thomas, Chairman and CEO of BXP, clients are making long-term commitments to high-quality workplaces throughout their portfolio. This momentum is driven by businesses prioritizing well-located, amenitized properties as a key component of their strategy.

    Notable leases in Q1 included a 244,000 square foot deal with Goodwin at 200 Fifth Avenue in New York City and a 162,000 square foot lease with a defense technology firm at 1050 Winter Street in Waltham, Massachusetts. BXP also reported significant leasing activity across the San Francisco region.

    Post-quarter highlights include a 20-year lease for approximately 126,000 square feet with Cooley LLP at 725 12th Street in Washington, D.C. With an average lease term of over 10 years, these long-term commitments demonstrate tenant confidence in BXP's premium office environments despite evolving workplace trends.