You’ve got to hand it to Mortimer Zuckerman and Doug Linde over at Boston Properties – they clearly believe the commercial real estate market is headed for better days.

How else to explain BXP’s bold move to lay out $280 million on a Big Apple tower, one that just happens to be empty? That’s right, as in no tenants!

When I came across this story, I first thought I was misreading something. I wasn’t.

Boston Properties latest acquisition is an empty, newly developed, 350,000 square foot office tower on Madison Avenue in midtown Manhattan.

BXP contends the tower is primed to attract high-end tenants.

If nothing else, this big bet may signal there is light at the end of the tunnel for the battered commercial real estate market.

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