Fundamentally Strong Markets and High Barriers to Entry
High barriers to entry and strong real estate fundamentals characterize Boston Properties' core markets. We have proven throughout our history that operating, developing and acquiring Class-A office real estate in supply-constrained markets is the best business strategy to maximize return on investment. We have selected markets and submarkets — including, Boston, Washington, D.C., Midtown Manhattan, San Francisco and Princeton, N.J. — where tenants have demonstrated a preference for high-quality office buildings and facilities. Boston Properties' strategy of holding higher quality assets in the best locations pays off even during weak market conditions as tenants make a "flight to quality" to take advantage of attractive rent levels and increased availability at superior buildings.
Boston Properties began as a real estate development company in 1970 and became a publicly traded real estate investment trust in 1997. Development remains a key part of Boston Properties' operating strategy for future growth. Boston Properties now controls sites on which we can develop a total of approximately 13 million square feet as market conditions and build-to-suit opportunities permit.