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Occupancy Rate
Measures the share of leasable space that is currently occupied, a direct indicator of demand for BXP’s office properties and near-term cash flow stability. Rising occupancy signals stronger tenant demand and pricing leverage, while falling occupancy warns of rent concessions, higher tenant-acquisition costs, and potential pressure on distributions.Occupancy has recovered from pandemic lows into a high‑70s/low‑80s band with consistent Q1 softness; management, however, reports materially higher in‑service occupancy (~87% in Q1) and raised 2026 average to 88.25%, signaling signed-but-not-open leases and a large pipeline will likely lift reported occupancy toward year‑end. That dynamic underpins the small FFO raise and supports valuation upside, but benefits are concentrated in premier CBD assets and partially offset by hefty leasing TI and higher interest costs, so gains may be uneven.
Date | Occupancy Rate |
|---|---|
Jun 30, 2026 | 84.80 |
Mar 31, 2026 | 73.70 |
Dec 31, 2025 | 78.70 |
Sep 30, 2025 | 82.80 |
Jun 30, 2025 | 82.80 |
Mar 31, 2025 | 74.90 |
Dec 31, 2024 | 77.20 |
Sep 30, 2024 | 82.70 |
Jun 30, 2024 | 80.60 |
Mar 31, 2024 | 71.00 |