BXP · 10-Q · 2026Q2 · Full report

Competition and Market Share

BXP, Inc. · 2026-08-06 · Importance 23 · Surprise 24

BXP identifies its commitment to the office asset class, strong access to secured and unsecured debt markets, and high-quality premier workplace portfolio as competitive advantages while other competitors have divested from offices. Management states that premier workplaces have consistently outperformed the broader office market in occupancy, net absorption, rental rates and landlord concessions across Boston, New York, San Francisco, Seattle and Washington, DC CBDs. Approximately 91% of BXP’s share of annualized rental obligations comes from predominantly premier workplaces in CBDs, which were 90.7% occupied and 93.6% leased as of June 30, 2026. BXP expects to continue gaining market share as clients favor financially sound owners, high-quality amenitized buildings and long-term property commitment.