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Economy, Not Remote Work, Is Responsible for Stalled Office Leasing, Boston Properties CEO Says

One of Nation’s Largest Office Landlords Seeks To Take Advantage of Distressed Market
The office utilization rate across Boston Properties' New York portfolio, including 399 Park Ave., is averaging about 95% of its pre-pandemic levels. (CoStar)
The office utilization rate across Boston Properties' New York portfolio, including 399 Park Ave., is averaging about 95% of its pre-pandemic levels. (CoStar)
CoStar News
November 2, 2023 | 8:54 P.M.

The U.S. economy is shattering growth expectations with record-low unemployment and surging gross domestic product, but one of the nation's largest office landlords is contending with a far different reality.

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