BXP Signs 320,000-SF Lease With Boston Dynamics at Reservoir Place in Waltham

BXP (NYSE: BXP) announced June 24 that it has executed a long-term lease with Boston Dynamics for approximately 320,000 square feet at Reservoir Place, a 530,000-square-foot office building located at 1601 Trapelo Road in Waltham, Massachusetts. The transaction ranks among the largest innovation-driven office leases in Greater Boston so far in 2026, according to BXP.

Deal Details and Tenant Plans

Boston Dynamics, a mobile robotics company, intends to invest approximately $100 million to transform the Reservoir Place space into a center for robotics and artificial intelligence. The company said it plans to consolidate manufacturing, research and development, training, and AI functions currently distributed across multiple locations into the new facility. Boston Dynamics expects to create up to 1,250 jobs at the site by 2033 and said it plans to begin relocating to Reservoir Place in phases starting in mid-2027.

The property sits directly across Route 128 from Boston Dynamics' current headquarters. The deal was described by BXP as a collaboration among Boston Dynamics, the City of Waltham, and the Commonwealth of Massachusetts.

"Boston Dynamics has called Waltham home for many years, and this expansion is a reflection of how fast our industry is moving," said Amanda McMaster, Interim CEO of Boston Dynamics. "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."

BXP's Urban Edge Campus

BXP has owned and operated Reservoir Place since 1998. The property is part of BXP's Urban Edge campus, a mixed-use portfolio spanning more than five million square feet across Waltham, Weston, and Lexington. BXP describes the Urban Edge portfolio as home to technology, life sciences, and professional services tenants, with amenities including housing, retail, dining, hotels, fitness offerings, and open space.

"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."

About BXP

BXP is organized as a real estate investment trust and describes itself as the largest publicly traded developer, owner, and manager of premier workplaces in the United States, with a portfolio concentrated in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C. As of March 31, 2026, BXP's portfolio, including properties owned by unconsolidated joint ventures, totaled 50.4 million square feet across 164 properties, including six properties under construction or redevelopment.