Dylan Bazinsky's questions to BXP Inc (BXP) leadership • Q1 2025
Question
Dylan Bazinsky of Green Street asked about the tech tenant downsizing cycle on the West Coast, contrasting it with expansions in New York and questioning how much more space might be given back.
Answer
President Douglas Linde differentiated between San Francisco's CBD, which has seen minimal new subleasing, and Silicon Valley, where more space is available. Executive Rodney Diehl explained that large Bay Area tech firms are consolidating into their premier owned properties, a process that will continue to add sublease supply. In contrast, executive Hilary Spann described Manhattan's large tech sector as 'stable' with some positive absorption and emerging activity from smaller tech firms.