BXP Real Estate Services Acquisition | M&A Deal

BXP has completed the acquisition of a major tenant lease for 343 Madison Avenue, a real estate development acquisition in New York, for $50 million. The tenant, McDermott Will & Schulte, is a law firm expected to take about 150,000 square feet across six floors in the Midtown office tower. BXP is a strategic real estate services M&A buyer using leasing to advance its 930,000-square-foot, all-electric, net-zero development above Grand Central in New York City. The other acquisition is part of BXP acquisitions activity tied to a $2 billion project, with negotiations reportedly represented by Newmark for the tenant and CBRE for the landlord.