BXP Sees Solid Demand, Signs Long-Term Leases at 360 Park Avenue South

Boston Properties BXP recently provided an update regarding long-term leases signed at 360 Park Avenue South, a 450,000-square-foot premier workplace in Midtown South. The leases included both new clients and expansions in the building, spanning around 230,000 square feet, with a weighted average lease term of 11.4 years. Post these, the premier workplace under consideration now stands at 90% leased.

The leasing activity witnessed interest from well-capitalized companies across industries, highlighting the increasing emphasis on quality workplaces. Hunter Point Capital took around 46,000 square feet across the 15th and 16th floors. Trexquant leased roughly 23,000 square feet on the entire 10th floor to establish its New York City office. Betches Media, a women’s entertainment brand, secured about 23,000 square feet on the sixth floor as it relocates its headquarters while expanding its operations.

Marriott International leased nearly 23,000 square feet on the 14th floor. Vercel took around 23,000 square feet on the ninth floor. Meanwhile, Optiver expanded its presence by 92,000 square feet across floors two through five, increasing its total footprint in the building to roughly 115,000 square feet.

Located on the corner of Park Avenue South and 26th Street, 360 Park Avenue South is equidistant from Grand Central Station and Penn Station, making it easily accessible. Equipped with modernized systems, featuring dining, lounges, coworking spaces and a conference center, it serves as an ideal office destination.

Wrapping Up on BXP

The strong leasing momentum at 360 Park Avenue South, with a diversified mix of tenants and long-term lease commitments, highlights the resilience of premium office assets. Backed by its portfolio of Class A properties and steady leasing activity, Boston Properties remains well-positioned to benefit from companies prioritizing modern, well-located workplaces. In 2025, BXP executed leases totaling more than 5.5 million square feet with a weighted average lease term of 10.1 years.

However, high competition from developers, owners and operators of office properties concerns BXP. A huge development and redevelopment pipeline adds to its woes.

Over the past three months, shares of this Zacks Rank #3 (Hold) company have declined 24.4% against the industry's growth of 5.3%.

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Stocks to Consider

Some better-ranked stocks from the broader REIT sector are Chatham Lodging Trust REIT CLDT, sporting a Zacks Rank #1 (Strong Buy), and Cousins Properties CUZ, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CLDT’s 2026 FFO per share is pegged at $1.20, which indicates year-over-year growth of 17.7%.

The consensus estimate for CUZ’s full-year FFO per share is pinned at $2.93, which calls for an increase of 3.2% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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This article originally published on Zacks Investment Research (zacks.com).

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