500 Boylston St.-222 Berkeley St.
The headquarters of two Boston-based household names are relocating in an office market shakeup involving leases at towers in Back Bay and the Financial District.
Wayfair is exiting 4 Copley Place, its headquarters since 2014, the home furnishings retailer confirmed today. And DraftKings’ headquarters will relocate from Back Bay to 225 Franklin St. in the Financial District, according to a pair of real estate sources.
Wayfair has signed a long-term lease at Oxford Properties Group’s 500 Boylston-222 Berkeley St., where it already occupies 395,000 square feet.
“This move, which we expect to happen in 2027, keeps us in the Back Bay and reinforces our commitment to Boston as our global headquarters,” Wayfair spokesperson Tara Lambropoulos said in an email.
According to real estate sources, the new space includes online betting giant DraftKings’ current headquarters.
DraftKings relocated in 2018 to 222 Berkeley St. from the Financial District, leasing 105,000 square feet at the Oxford Properties Group-owned tower to accommodate a fast-growing workforce. As of Dec. 31, DraftKings’ Boston headquarters totaled 125,000 square feet under a lease that is scheduled to expire in 2029, according to the company’s annual report.
The move to Oxford Properties Group’s 225 Franklin St. would give DraftKings employees access to new amenities completed last spring. Ownership built The Retreat, a 6,000 square-foot indoor-outdoor bar, roof terrace and conference center overlooking Post Office Square.
DraftKings did not respond to requests for comment.
Oxford Properties has had success in recent years attracting tech companies to its office portfolio in Boston.
Last spring, marketing software company Klaviyo expanded from 160,000 to 256,000 square feet at Oxford Properties’ 125 Summer St.
Tenants at 225 Franklin St. include Datadog, which renewed its lease and expanded to 125,000 square feet this fall, Bisnow reported last month.
225 Franklin St. Photo courtesy of Newmark
Home furnishings retailer Wayfair expanded rapidly in the past decade, earning the distinction of becoming the largest office tenant in Boston with offices in three Back Bay buildings. It opened the Copley Place headquarters in 2014 with a lease for 100,000 square feet, and expanded with a 395,000 square-foot lease at 500 Boylston-222 Berkeley St. in 2018.
In 2019, Wayfair leased another 302,000 square feet at 10 St. James Ave. in Back Bay.
As of Dec. 31, 2024, Wayfair occupied 1.3 million square feet in Boston, according to its annual report.
The company has announced several rounds of layoffs since 2022, including the elimination of 170 Massachusetts-based jobs in March 2025. Previously, it cut 936 jobs at the Boston headquarters as part of a January 2024 round of 1,650 layoffs.
At the end of the third quarter, Back Bay’s 15.6 million square-foot office market had a vacancy rate of 15.2 percent, the lowest of Boston’s three major office submarkets, according to a CBRE report. Average asking rents are $69.40 per square foot.
