Thus, there’s growing optimism that companies fully intend to be back in the office in the coming months. Most anticipate being primarily in-person as opposed to a hybrid model with remote work.
That’s increasingly evident in the company’s leasing and renewal activity. Thomas noted that in “conversations with clients, we have not seen a material reduction in space requirements.” That suggests occupancy levels and rental rates should hold up in a post-pandemic world.
Meanwhile, a return to the office will help boost Boston Properties’ ancillary revenue streams. As people return to the office, it should benefit the parking lots, hotels, and retails located in its office complexes, which represents $130 million in revenue potential.
That’s one of several catalysts that could give the stock a booster shot. Others include its investments to build out additional life science space, a recent acquisition-focused joint venture, and its growing…