Leading Voices in Real Estate Owen Thomas | Chairman and CEO of Boston Properties
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Mar 3, 2025 
Owen Thomas, Chairman and CEO of Boston Properties, shares insights on the office sector's dynamic landscape amid return-to-office trends. He discusses the shifting occupancy rates influenced by new work patterns and the revitalization of downtown economies. Owen delves into the rise of co-working spaces, emphasizing the importance of flexible environments for attracting talent. He also highlights sustainability efforts in real estate and the strategic necessity of environmentally friendly practices, showcasing innovative initiatives like green buildings.
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Office Market Tailwinds
- Office market tailwinds include return-to-office trends and corporate earnings growth.
- These factors suggest increased office space demand, especially for premier workplaces.
Office Market Segmentation
- The office market is trifurcated: premier, value-driven, and obsolete/convertible spaces.
- Boston Properties focuses on premier workplaces, representing the top 10% of buildings.
Metro Center Redevelopment
- Boston Properties bought a building at Metro Center in Washington D.C. for $110 per square foot.
- They demolished it to build a new, amenitized building focused on tenant experience.