BXP reported a solid Q3 2025 performance, exceeding FFO per share estimates and raising its full-year earnings guidance, supported by significant leasing activity and strategic asset sales.
- FFO per share of $0.04 above forecast; midpoint of 2025 earnings guidance raised by $0.03.
- Completed over 1.5 million square feet of leasing, exceeding both last year's performance and the 5-year average for Q3.
- Strong progress on asset sales, with four transactions completed for $57 million and nine assets under contract for approximately $400 million.
- Premier workplace asset vacancy remains significantly lower than the broader market, with increased concentration on CBD locations.
- Continued positive momentum in office utilization reflects rising return-to-office mandates, boosting demand in core markets.
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