BXP Announces Buyout of 725 12th Street Property in Washington, DC

Group 1 - BXP, Inc. acquired the 725 12th Street property in Washington, DC for $34 million, with plans for demolition and redevelopment into a 320,000 square-foot workplace, expected to be completed by late 2028 [1][2] - The property is strategically located in the Central Business District, three blocks from the White House, providing stunning views and outdoor areas for tenants [2] - BXP has secured a lease of approximately 150,000 square feet with McDermott Will & Emery for the top five floors of the new building, and is negotiating for the remaining space [3] Group 2 - BXP has a strong portfolio of Class A office assets and is experiencing healthy tenant demand, which is expected to drive leasing activity [4] - The company is enhancing its portfolio quality through acquisitions and development in core markets while divesting non-core properties, reflecting prudent capital management [5] - BXP's shares have increased by 14.8% over the past six months, outperforming the industry growth of 1.7% [5]