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KR has secured a 15‑year lease for 132,529 sq ft in Two International Place, marking one of Boston’s largest office deals of the year and a clear sign that downtown demand is picking up again. The agreement, announced by co‑owners The Chiofaro Company and PGIM Real Estate, represents a pivotal moment for the landmark building and the city’s commercial real‑estate recovery.

    This lease is KKR’s inaugural office in Boston’s core, consolidating and expanding its local presence to support the firm’s global strategy. With more than 300 employees already stationed in the area—primarily in the insurance arm—KKR plans to grow the space to meet future needs. “We’re thrilled to open our new Boston office at International Place and intend to expand it over time to help us achieve our long‑term objectives,” said COO Ryan Stork. “Boston offers tremendous potential, much like our offices in Gurugram and Dublin.”

    The move reflects KKR’s broader expansion and long‑term investment in Boston’s talent pool and infrastructure. “As we outgrow our current location, relocating downtown positions us to invest in local talent and broaden our operating platform for U.S. and global operations,” explained Burke Malek, Head of KKR’s Boston office.

    International Place is undergoing a $100 million transformation, nearly complete, that upgrades amenities and experience. The 1.8‑million‑sq‑ft complex, designed by Philip Johnson, boasts sweeping waterfront views, modernized lobbies, and a new 25,000‑sq‑ft Aries Club. “KKR’s commitment is a major milestone for the building and Boston’s business community,” said Don Chiofaro Jr., VP of The Chiofaro Company. “It underscores the resurgence of downtown office demand and reaffirms our vision of International Place as the premier address for global leaders.”

    Despite nationwide headwinds, Boston’s downtown is stabilizing and attracting reinvestment. The KKR lease demonstrates strong demand for high‑quality, centrally located office space with contemporary amenities. “International Place, with its prime location and top‑tier amenities, aligns with what high‑caliber tenants seek,” said Joanna Mulford, Managing Director and Senior Portfolio Manager for PRISA, PGIM’s flagship core equity strategy. “We remain confident in Boston’s long‑term office market strength.”

    The transaction was facilitated by a joint effort from Jones Lang LaSalle, Newmark, and Cushman & Wakefield, underscoring the collaboration behind one of the year’s most notable deals. Situated along Boston’s Rose Kennedy Greenway, International Place is a landmark complex offering Class A office and retail space, direct transit access, and a full suite of tenant amenities.

    KKR (NYSE: KKR) is a global investment firm managing assets across private equity, real estate, credit, infrastructure, and insurance, with over 1,450 professionals in 42 offices worldwide. The Chiofaro Company, a leading New England commercial‑real‑estate developer, manages world‑class office properties. PGIM Real Estate, part of Prudential Financial’s $1.44 trillion asset‑management arm, is the third‑largest real‑estate investment manager globally, overseeing $213 billion in assets.