BXP Executes 320,000 Square Foot Lease with Boston Dynamics at Reservoir Place

BOSTON--(BUSINESS WIRE)--Jun. 24, 2026-- BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, today announced a long-term lease agreement with Boston Dynamics for approximately 320,000 square feet at Reservoir Place, a 530,000 square foot building located at 1601 Trapelo Road in Waltham, Massachusetts.

The lease marks one of the largest innovation-driven office transactions in Greater Boston this year and supports Boston Dynamics' plans for a significant expansion of its Massachusetts operations. The company intends to invest approximately $100 million in the development of a state-of-the-art robotics and AI center at Reservoir Place and create up to 1,250 new jobs by 2033.

"Boston Dynamics is one of the world's most innovative robotics companies and a cornerstone of Massachusetts' leadership in advanced technology," said Bryan Koop, Executive Vice President, Boston Region, BXP. "Their decision to establish a long-term home at Reservoir Place underscores the appeal of BXP's Urban Edge campus and our ability to provide workplace environments that support innovation, talent attraction, and growth. We are proud to support Boston Dynamics as they create a next-generation facility that will drive technological advancement, job creation, and economic growth throughout the region."

Boston Dynamics, a global leader in mobile robotics, plans to transform the property into a premier center for robotics and AI innovation. The facility will consolidate and expand manufacturing, research and development, training, and artificial intelligence functions that are currently distributed across multiple locations.

The company expects to relocate to Reservoir Place in phases beginning in mid-2027.

"Boston Dynamics has called Waltham home for many years, and this expansion is a reflection of how fast our industry is moving. The investment gives our team the space and resources we need to launch our third robot platform this decade. We will continue recruiting and hiring excellent talent to lead this emerging industry and meaningfully contribute to the greater Boston business community," said Amanda McMaster, Interim CEO of Boston Dynamics.

Located directly across Route 128 from Boston Dynamics' current headquarters, Reservoir Place provides the scale, flexibility, and connectivity necessary to support the company's continued growth while maintaining its deep roots in Massachusetts. The project represents a collaboration between Boston Dynamics, the City of Waltham, and the Commonwealth of Massachusetts to retain and expand one of the State's most prominent innovation companies.

Owned and operated by BXP since 1998, Reservoir Place is part of BXP's Urban Edge campus, a dynamic mixed-use destination spanning more than five million square feet across Waltham, Weston, and Lexington. BXP's Urban Edge portfolio is home to a diverse mix of leading technology, life sciences, and professional services companies offering a highly amenitized environment with premier workplaces, housing, retail and dining destinations, hotels, fitness and wellness offerings, and extensive open space.

The transaction further strengthens Reservoir Place's position as a leading destination in Massachusetts for technology and innovation companies and reinforces the continued demand for high-quality workplaces that support collaboration, talent attraction, and long-term growth.

About BXP
BXP, Inc. (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of March 31, 2026, including properties owned by unconsolidated joint ventures, BXP's portfolio totaled 50.4 million square feet and 164 properties, including six properties under construction/redevelopment. For more information about BXP, please visit our website or follow us on LinkedIn or Instagram.

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Media Contacts
Rebecca Stoddard
VP, Regional Marketing at BXP
[email protected]

BerlinRosen
[email protected]

Source: BXP, Inc.