BXP (NYSE: BXP) has signed a long-term lease with Boston Dynamics for approximately 320,000 square feet at Reservoir Place, a 530,000 square foot building at 1601 Trapelo Road in Waltham, Massachusetts, according to a press release.

Boston Dynamics plans to invest approximately $100 million to develop a robotics and artificial intelligence center at the property and create up to 1,250 new jobs by 2033. The company expects to begin relocating to the site in phases starting in mid-2027.

The facility will consolidate manufacturing, research and development, training, and AI functions currently spread across multiple locations. Boston Dynamics said the expansion will support the launch of its third robot platform this decade.

"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."

Reservoir Place is located directly across Route 128 from Boston Dynamics' current headquarters. BXP has owned and operated the property since 1998. The project involves collaboration between Boston Dynamics, the City of Waltham, and the Commonwealth of Massachusetts.

Bryan Koop, Executive Vice President of BXP's Boston Region, said the lease reflects demand for workplace environments that support innovation and talent attraction.

Reservoir Place is part of BXP's Urban Edge campus, which spans more than five million square feet across Waltham, Weston, and Lexington. BXP's portfolio totaled 50.4 million square feet and 164 properties as of March 31, 2026.