BXP Inc

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 27, 2025

BXP$63.54-4.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) Financial Statement Schedule

BXP, Inc.Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2024(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Land	Building
767 Fifth Avenue (the General Motors Building)	Office	New York, NY	$2,291,498		$1,796,252	$1,532,654	$393,520	$1,796,252	$1,926,174	$—	$—	$3,722,426	$567,621	1968/2019	2013	(1)
Prudential Center	Office	Boston, MA	—		92,077	948,357	833,604	115,632	1,758,406	—	—	1,874,038	821,046	1965/1993/2002/2016-2017/2024	1998/1999/2000	(1)
Embarcadero Center	Office	San Francisco, CA	—		179,697	847,410	570,259	195,986	1,401,380	—	—	1,597,366	829,400	1970/1989	1998-1999	(1)
399 Park Avenue	Office	New York, NY	—		339,200	700,358	419,566	354,107	1,105,017	—	—	1,459,124	522,555	1961/2018	2002	(1)
601 Lexington Avenue	Office	New York, NY	990,529		241,600	494,782	568,356	289,639	1,015,099	—	—	1,304,738	398,796	1977/1997/2021	2001	(1)
200 Clarendon Street and Garage	Office	Boston, MA	—		219,543	667,884	288,694	257,203	918,918	—	—	1,176,121	370,980	1976	2010	(1)
Salesforce Tower	Office	San Francisco, CA	—		200,349	946,205	7,655	200,349	953,860	—	—	1,154,209	188,376	2018	2013	(1)
250 West 55th Street	Office	New York, NY	—		285,263	603,167	51,331	285,263	654,498	—	—	939,761	215,386	2014	2007	(1)
100 Federal Street	Office	Boston, MA	—		131,067	435,954	138,639	131,067	574,593	—	—	705,660	189,447	1971-1975/2017	2012	(1)
7 Times Square (formerly Times Square Tower)	Office	New York, NY	—		165,413	380,438	149,990	169,193	526,648	—	—	695,841	264,411	2004	2000	(1)
Madison Centre	Office	Seattle, WA	—		104,641	564,336	5,126	104,641	569,462	—	—	674,103	56,212	2017	2022	(1)
Carnegie Center	Office	Princeton, NJ	—		142,666	316,856	184,814	94,243	491,116	58,977	—	644,336	279,961	1983-2016	1998/1999/2000/2007/2014/2017/2019	(1)
Santa Monica Business Park	Office	Los Angeles, CA	198,021		46,360	410,421	177,576	210,471	423,775	111	—	634,357	18,660	1976-1980	2023	(1)
Reston Next	Office	Reston, VA	—		35,549	525,277	5,860	2,901	563,785	—	—	566,686	51,052	2022	1998	(1)
Atlantic Wharf	Office	Boston, MA	—		63,988	454,537	42,166	63,988	496,703	—	—	560,691	195,192	2011	2007	(1)
2100 Pennsylvania Avenue	Office	Washington, DC	—		185,203	324,206	4,433	185,203	328,639	—	—	513,842	34,319	2023	N/A	(1)
599 Lexington Avenue	Office	New York, NY	—		81,040	100,507	269,410	87,852	363,105	—	—	450,957	212,251	1986	1997	(1)
Fountain Square	Office	Reston, VA	—		56,853	306,298	56,795	56,853	363,093	—	—	419,946	125,277	1986-1990	2012	(1)
510 Madison Avenue	Office	New York, NY	—		103,000	253,665	37,287	103,000	290,952	—	—	393,952	111,209	2012	2010	(1)
325 Main Street	Office	Cambridge, MA	—	(2)	21,596	312,492	42,325	21,596	354,817	—	—	376,413	25,113	2022	1997	(1)
680 Folsom Street	Office	San Francisco, CA	—		72,545	219,766	12,577	72,545	232,343	—	—	304,888	87,930	2014	2012	(1)
145 Broadway	Office	Cambridge, MA	—		121	273,013	26,980	23,367	276,747	—	—	300,114	43,888	2019	1997	(1)
2200 Pennsylvania Avenue	Office	Washington, DC	—		—	183,541	116,540	101,734	198,347	—	—	300,081	75,450	2011	2008	(1)
South of Market and Democracy Tower	Office	Reston, VA	—		13,603	237,479	31,096	13,687	268,491	—	—	282,178	118,780	2008-2009	2003	(1)
Bay Colony Corporate Center	Office	Waltham, MA	—		18,789	148,451	95,025	18,789	238,765	4,711	—	262,265	118,253	1985-1989	2011	(1)
535 Mission Street	Office	San Francisco, CA	—		40,933	148,378	6,325	40,934	154,702	—	—	195,636	50,973	2015	2013	(1)

BXP, Inc.Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2024(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Land	Building
Mountain View Research Park	Office	Mountain View, CA	—		95,066	68,373	21,315	95,066	89,688	—	—	184,754	37,048	1977-1981/2007-2013	2013	(1)
Reservoir Place	Office	Waltham, MA	—		18,605	104,124	55,829	20,108	158,450	—	—	178,558	91,828	1955/1987/2017	1997/1998	(1)
140 Kendrick Street	Office	Needham, MA	—		18,095	66,905	72,615	19,092	138,523	—	—	157,615	52,387	2000/2023	2004	(1)
901 New York Avenue	Office	Washington, DC	201,692		65,808	72,970	13,225	65,808	86,195	—	—	152,003	4,253	2004	2024	(1)
1330 Connecticut Avenue	Office	Washington, DC	—		25,982	82,311	39,773	27,135	120,931	—	—	148,066	58,777	1984/2018	2004	(1)
One Freedom Square	Office	Reston, VA	—		9,929	84,504	47,580	11,293	130,720	—	—	142,013	73,356	2000	2003	(1)
Two Freedom Square	Office	Reston, VA	—		13,930	77,739	46,236	15,420	122,485	—	—	137,905	50,676	2001	2003	(1)
One and Two Reston Overlook	Office	Reston, VA	—		16,456	66,192	49,596	16,179	116,065	—	—	132,244	64,247	1999	2000	(1)
Kingstowne Towne Center	Office	Alexandria, VA	—		18,021	109,038	4,296	18,062	113,293	—	—	131,355	57,756	2003-2006	2007	(1)
Weston Corporate Center	Office	Weston, MA	—		25,753	92,312	1,630	25,854	93,841	—	—	119,695	44,575	2010	2001	(1)
Discovery Square	Office	Reston, VA	—		11,198	71,782	33,904	12,533	104,351	—	—	116,884	62,220	2001	2003	(1)
Shady Grove Innovation District	Office	Rockville, MD	—		52,030	64,212	(284)	26,834	35,014	54,110	—	115,958	5,526	1968-1985	2021	(1)
355 Main Street	Office	Cambridge, MA	594,869		18,863	53,346	41,772	21,173	92,808	—	—	113,981	39,649	1981/1996/2013	2006	(1)
17Fifty Presidents Street	Office	Reston, VA	—		—	113,362	162	—	113,524	—	—	113,524	21,016	2020	2013	(1)
10 CityPoint	Office	Waltham, MA	—		1,953	85,752	7,023	2,288	92,440	—	—	94,728	26,693	2016	1997	(1)
Waltham Weston Corporate Center	Office	Waltham, MA	—		10,385	60,694	22,745	11,097	82,727	—	—	93,824	48,609	2003	1999	(1)
90 Broadway	Office	Cambridge, MA	—	(2)	19,104	52,078	22,168	20,785	72,565	—	—	93,350	33,396	1983/1998/2013	2006	(1)
Sumner Square	Office	Washington, DC	—		624	28,745	60,966	27,441	62,894	—	—	90,335	29,739	1985	1999	(1)
230 CityPoint	Office	Waltham, MA	—		13,189	49,823	25,075	13,807	74,280	—	—	88,087	41,800	1992	2005	(1)
77 CityPoint	Office	Waltham, MA	—		13,847	60,383	10,648	14,023	70,855	—	—	84,878	30,750	2008	2001	(1)
20 CityPoint	Office	Waltham, MA	—		4,887	72,764	7,072	4,887	79,836	—	—	84,723	16,456	2020	2007	(1)
Wisconsin Place	Office	Chevy Chase, MD	—		—	53,349	26,100	—	79,449	—	—	79,449	31,223	2009	2004	(1)
2440 West El Camino Real	Office	Mountain View, CA	—		16,741	51,285	6,565	16,741	57,850	—	—	74,591	23,427	1987/2003	2011	(1)
Reston Corporate Center	Office	Reston, VA	—		9,135	50,857	4,489	10,148	54,333	—	—	64,481	35,620	1984	1998	(1)
890 Winter Street	Office	Waltham, MA	—		13,913	28,557	19,104	13,913	47,661	—	—	61,574	9,397	1999	2019	(1)
255 Main Street	Office	Cambridge, MA	—		134	25,110	33,766	548	58,462	—	—	59,010	45,819	1987	1997	(1)
University Place	Office	Cambridge, MA	—		—	37,091	15,149	4,145	48,095	—	—	52,240	38,992	1985	1998	(1)
Capital Gallery	Office	Washington, DC	—		4,725	29,565	10,374	8,662	36,002	—	—	44,664	25,075	1981/2006	2007	(1)
North First Business Park	Office	San Jose, CA	—		23,398	13,069	6,116	23,378	19,205	—	—	42,583	17,852	1981	2007	(1)
150 Broadway	Office	Cambridge, MA	—		850	25,042	15,749	1,323	40,318	—	—	41,641	20,185	1999	1997	(1)
105 Broadway	Office	Cambridge, MA	—		1,299	12,943	12,723	2,395	24,570	—	—	26,965	18,114	1990	1997	(1)
Lexington Office Park	Office	Lexington, MA	—		998	1,426	19,738	1,263	19,233	1,666	—	22,162	17,298	1982	1997	(1)
The Point	Office	Waltham, MA	—		6,395	10,040	546	6,492	10,489	—	—	16,981	2,969	2015	2007	(1)
690 Folsom Street	Office	San Francisco, CA	—		3,219	11,038	1,877	3,219	12,915	—	—	16,134	4,723	2015	2012	(1)
Avant Retail	Office	Reston, VA	—		1,499	6,647	2,577	1,499	9,224	—	—	10,723	3,885	2014	2010	(1)

BXP, Inc.Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2024(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Land	Building
17 Hartwell Avenue	Office	Lexington, MA	—		26	150	9,206	65	6,175	3,142	—	9,382	3,831	1968	1997	(1)
32 Hartwell Avenue	Office	Lexington, MA	—		168	1,943	6,394	314	8,191	—	—	8,505	3,291	1968/1979/1987	1997	(1)
453 Ravendale Drive	Office	Mountain View, CA	—		5,477	1,090	1,286	5,477	2,376	—	—	7,853	1,300	1977	2012	(1)
125 Broadway	Life Sciences	Cambridge, MA	—		126,364	433,662	5,580	126,364	439,242	—	—	565,606	38,051	2000	2022	(1)
180 CityPoint	Life Sciences	Waltham, MA	—		10,908	211,883	—	10,908	211,883	—	—	222,791	6,212	2024	2006	(1)
300 Binney Street	Life Sciences	Cambridge, MA	—		18,080	51,262	148,974	18,080	200,236	—	—	218,316	7,923	2024	2009	(1)
880 Winter Street	Life Sciences	Waltham, MA	—		15,597	37,255	95,615	15,597	132,870	—	—	148,467	18,179	1998/2022	2019	(1)
200 West Street	Life Sciences	Waltham, MA	—		16,148	24,983	77,709	16,813	101,670	357	—	118,840	33,730	1999/2021	1997	(1)
153 & 211 Second Avenue	Life Sciences	Waltham, MA	—		33,233	55,940	2,352	33,233	58,292	—	—	91,525	7,583	1964-2006	2021	(1)
103 CityPoint	Life Sciences	Waltham, MA	—		4,672	77,515	—	4,672	77,515	—	—	82,187	569	2024	2007	(1)
250 Binney Street	Life Sciences	Cambridge, MA	—		110	4,483	3,593	273	7,913	—	—	8,186	7,473	1983	1997	(1)
33 Hayden Avenue	Life Sciences	Lexington, MA	—		266	3,234	11,502	425	14,577	—	—	15,002	10,250	1979	1997	(1)
92-100 Hayden Avenue	Life Sciences	Lexington, MA	—		594	6,748	1,817	778	8,381	—	—	9,159	7,456	1985	1997	(1)
The Skylyne	Residential	Oakland, CA	—		—	239,077	1,792	—	240,869	—	—	240,869	26,207	2020	N/A	(1)
Signature at Reston	Residential	Reston, VA	—		27,076	190,580	2,980	27,076	193,560	—	—	220,636	32,887	2018	2013	(1)
Proto Kendall Square	Residential	Cambridge, MA	—		9,243	127,248	3,336	9,245	130,582	—	—	139,827	21,122	2018	2015	(1)
The Lofts at Atlantic Wharf	Residential	Boston, MA	—		3,529	54,891	2,598	3,529	57,489	—	—	61,018	20,108	2011	2007	(1)
Boston Marriott Cambridge	Hotel	Cambridge, MA	—		478	37,918	30,031	1,201	66,597	629	—	68,427	53,343	1986/2017	1997	(1)
Kendall Center Green Garage	Garage	Cambridge, MA	—	(2)	—	35,035	7,335	103	42,267	—	—	42,370	19,812	1984	2006	(1)
Kendall Center Yellow Garage	Garage	Cambridge, MA	—		1,256	15,697	1,674	1,434	17,193	—	—	18,627	8,248	2006	2004	(1)
290 Binney Street	Development	Cambridge, MA	—		—	—	575,958	1,054	—	—	574,904	575,958	—	N/A	1997	N/A
121 Broadway	Development	Cambridge, MA	—		—	—	102,843	—	—	—	102,843	102,843	—	N/A	1997	N/A
Reston Next Office Phase II	Development	Reston, VA	—		—	—	45,434	1,692	3,030	—	40,712	45,434	14	N/A	1998	N/A
725 12th Street	Development	Washington, DC	—		26,997	8,369	522	—	—	—	35,888	35,888	—	1992	2024	N/A
Reston Next Retail	Development	Reston, VA	—		—	—	10,293	—	—	—	10,293	10,293	—	N/A	1998	N/A
343 Madison Avenue	Land	New York, NY	—		—	—	240,226	140,558	—	99,668	—	240,226	—	N/A	2023	N/A
777 Harrison Street	Land	San Francisco, CA	—		144,647	—	28,366	—	47	172,966	—	173,013	39	N/A	2020	N/A
Back Bay Station Master Plan	Land	Boston, MA	—		—	—	103,908	24,808	—	79,100	—	103,908	—	N/A	N/A	N/A
3625-3635 Peterson Way	Land	Santa Clara, CA	—		63,206	—	5,185	—	—	68,391	—	68,391	—	N/A	2016	N/A
North First Master Plan	Land	San Jose, CA	—		35,004	—	4,600	—	—	39,604	—	39,604	—	N/A	2007	N/A
Plaza at Almaden	Land	San Jose, CA	—		—	—	38,163	—	—	38,163	—	38,163	—	N/A	2006	N/A
CityPoint South Master Plan	Land	Waltham, MA	—		—	—	36,522	—	—	36,522	—	36,522	—	N/A	N/A	N/A
Springfield Metro Center	Land	Springfield, VA	—		—	—	19,913	—	—	19,913	—	19,913	—	N/A	2007	N/A
Reston Gateway Master Plan	Land	Reston, VA	—		—	—	17,199	—	—	17,199	—	17,199	—	N/A	1998	N/A
Kendall Center Master Plan	Land	Cambridge, MA	—		—	—	16,301	—	—	16,301	—	16,301	—	N/A	1997	N/A
Weston Quarry	Land	Weston, MA	—		—	—	1,252	—	—	1,252	—	1,252	—	N/A	2001	N/A

BXP, Inc.Schedule 3—Real Estate and Accumulated DepreciationDecember 31, 2024(dollars in thousands)
Property Name · Type · Location · Encumbrances · Original · Costs Capitalized Subsequent to Acquisition · Land and Improvements · Building and Improvements · Land Held for Development · Development and Construction in Progress · Total · Accumulated Depreciation · Year(s) Built/Renovated · Year(s) Acquired · Depreciable Lives (Years)
Land	Building
Broad Run Business Park	Land	Loudoun County, VA	—		—	—	1,188		—		—	1,188		—		1,188		—		N/A	1998		N/A
Reston Overlook Master Plan	Land	Reston, VA	—		—	—	80		—		—	80		—		80		—		N/A	2000		N/A
				$4,276,609	(3)	$5,716,458		$15,848,823		$6,955,895		$6,002,805	(4)		$21,039,681		(5)		$714,050	(6)		$764,640		$28,521,176	$7,485,502

Note: Total Real Estate does not include Furniture, Fixtures and Equipment totaling approximately $57,136. Accumulated Depreciation does not include approximately $42,555 of accumulated depreciation related to Furniture, Fixtures and Equipment. Office type includes office, life sciences, and retail properties.

The aggregate cost and accumulated depreciation for tax purposes was approximately $25.9 billion and $6.4 billion, respectively.

(1)Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(2)This property is encumbered with the mortgage note shown at 355 Main Street.

(3)Includes unamortized deferred financing costs and fair value debt adjustment totaling approximately $(25.7) million.

(4)Includes Right of Use Assets - Finance Leases and Right of Use Assets - Operating Leases of approximately $349,314 and $334,767, respectively.

(5)Includes Right of Use Assets - Finance Leases of approximately $23,608.

(6)Includes pre-development costs.

BXP, Inc.

Real Estate and Accumulated Depreciation

December 31, 2024, 2023 and 2022

(dollars in thousands)

A summary of activity for real estate and accumulated depreciation is as follows:

	2024	2023	2022
Real Estate:
Balance at the beginning of the year	$27,421,471	$25,744,214	$24,108,220
Additions to/improvements of real estate	1,210,558	1,811,036	2,228,000
Assets sold/written-off	(110,853)	(133,779)	(592,006)
Balance at the end of the year	$28,521,176	$27,421,471	$25,744,214
Accumulated Depreciation:
Balance at the beginning of the year	$6,841,404	$6,260,992	$5,848,183
Depreciation expense	754,951	714,191	646,020
Assets sold/written-off	(110,853)	(133,779)	(233,211)
Balance at the end of the year	$7,485,502	$6,841,404	$6,260,992

Note: Real Estate and Accumulated Depreciation amounts do not include Furniture, Fixtures and Equipment.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.