The Chiofaro Company, in partnership with PGIM’s real estate business, has announced that KKR has signed a 15-year lease for more than 132,000 square feet at Two International Place in Boston. This move represents a significant milestone for the city’s office market and underscores KKR’s commitment to expanding its presence in Boston. The firm currently employs over 300 people in the area, primarily to support its insurance business. The new office space will provide room for continued growth, strengthening its U.S. footprint and global operations.
The lease signing coincides with a transformative $100 million reinvestment project at International Place, one of Boston’s most iconic office properties. The redevelopment is designed to enhance the tenant experience and further establish the property as one of the most vibrant destinations in New England. Two International Place offers sweeping views of Boston’s waterfront and includes access to a private roof deck, adding to its appeal for tenants seeking both functionality and premium amenities.
The transaction was brokered through the combined efforts of Jones Lang LaSalle, Newmark, and Cushman & Wakefield, reflecting the scale and importance of the deal within Boston’s commercial real estate market.
KKR’s decision to relocate to Two International Place comes as PGIM and The Chiofaro Company near completion of the property’s extensive reinvestment program. The redevelopment includes a complete transformation of the ground-level lobbies and entrances, as well as the creation of the Aries Club, a 25,000-square-foot state-of-the-art amenity center. These upgrades are designed to provide tenants with a modern, engaging, and highly functional environment that supports both productivity and community.
This lease not only highlights KKR’s long-term commitment to Boston but also demonstrates the continued strength of International Place as a premier office destination. With its combination of prime location, modernized amenities, and significant investment in tenant experience, the property is positioned to remain a cornerstone of Boston’s commercial landscape for years to come.
KEY QUOTES:
“We are excited to establish our new Boston office at International Place and intend to grow this location over time to help us deliver on the firm’s future goals. We see great potential for Boston to support the broader firm like our offices in Gurugram and Dublin. Our investment in Boston is consistent with our desire to have a U.S.-based location in a similar vein.”
Ryan Stork, Chief Operating Officer, KKR
“As we’ve outgrown our existing space, this strategic move downtown positions us to invest in local talent and expand our operating platform to support our U.S. and global operations. The combination of a top-tier office space with world-class amenities and unmatched location made this the ideal choice for our growing team.”
Burke Malek, Head of KKR’s Boston office
“KKR’s decision to plant a substantial flag at International Place is a major milestone for both the building and Boston’s business community. As one of the most prominent investment firms in the world, KKR’s arrival further validates our vision for International Place as the preeminent address for global business leaders. This move reflects the resurgence of office demand in the downtown market, and the value tenants continue to place on locating in the highest-quality work environments. We are proud to have partnered with PGIM Real Estate to elevate International Place to deliver a best-in-class office location for today and tomorrow’s business leaders.”
Don Chiofaro Jr., Vice President of The Chiofaro Company
“International Place with its best-in-class location and amenities fits the profile that high-caliber tenants continue to seek. We remain confident in the long-term strength and appeal of Boston’s office market, and through this opportunity, we look forward to cultivating new tenant relationships and supporting exceptional workplace experiences.”
Joanna Mulford, Managing Director and Senior Portfolio Manager for PRISA, PGIM’s flagship core equity real estate strategy
