DraftKings is doubling down on downtown. Oxford Properties has kicked off roughly $21 million worth of construction at 225 Franklin Street to carve out new office space for the sports-betting giant, pulling the homegrown company back into Boston’s Financial District after years in the Back Bay. Construction crews were spotted on site this week as the owner and leasing teams get floorplates and shared amenities into shape for the incoming tenant.
Oxford is carrying out an approximately $21 million tenant fit-out at the tower across from Norman B. Leventhal Park in Post Office Square to support DraftKings’ return, according to the Boston Business Journal. The work is described as a tenant-focused buildout that will modernize several floors and refresh common areas to better match a hybrid work model. By sheer price tag alone, it ranks as one of the more sizable downtown office overhauls underway this year.
DraftKings’ downtown shift
The Boston Globe has reported that DraftKings plans to move its headquarters to 225 Franklin, with a relocation expected in 2027 that would bring the company back to a downtown footprint it left in 2018 when it decamped for the Back Bay. The company is slated to occupy roughly 125,000 square feet in the building. A DraftKings spokesperson told the Globe the future office will reflect “the evolution of today’s work environment,” with amenities and design choices aimed squarely at what employees say they want out of an office in 2026 and beyond. Brokers told the paper that deals of this scale are a hopeful sign that demand is firming up for top-tier Class A space in the Financial District.
Oxford’s amenity push
Oxford has been steadily upgrading the tower’s amenities package, including a fresh revamp of an event and terrace level branded as “The Retreat,” a strategy many landlords now lean on to lure and retain tech tenants, according to Banker & Tradesman. The building has already seen momentum from other growth-minded occupants. Datadog expanded its presence at 225 Franklin last year, a signal that updated, amenity-rich downtown space still holds strong appeal for scaling companies, as noted by threadCRE. Those wins help explain why Oxford is willing to sink serious capital into a major fit-out for another marquee tenant.
What it means for downtown
For a Financial District still working through the hangover of remote work and elevated vacancies, DraftKings’ return is more than a logo on a lobby wall. Another well-known Boston company setting up shop downtown could pump more life into weekday foot traffic and help set the stage for additional leases in nearby towers. Market watchers told the Globe that the fundamentals have not flipped overnight, but moves like this are an encouraging data point for the neighborhood’s recovery story.
Oxford and DraftKings did not immediately respond to questions about the construction schedule or headcount plans tied to the move. For now, the roughly $21 million outlay sends a clear message. Landlords are still ready to invest real money into downtown properties if it helps bring heavyweight tenants back to Boston’s core.
