Boston, September 19, 2025
News Summary
KKR has secured a significant 15-year lease for 132,529 square feet at Two International Place in downtown Boston, marking its first office in the area. This move consolidates existing operations and aims to enhance local capabilities for the firm, which has over 300 employees in Boston primarily involved in insurance. The lease coincides with a $100 million renovation of the property, signifying a renewed interest in downtown office spaces amidst a recovering market.
Boston — KKR has signed a 15-year lease for 132,529 square feet at Two International Place in downtown Boston. The agreement represents a major office commitment and marks KKR’s first office in downtown Boston, positioning the firm to consolidate existing operations and expand local capabilities.
Immediate details
This lease is one of the most significant office commitments in Boston for the year 2023. KKR’s move marks its first office in downtown Boston, aimed at consolidating and expanding local operations. The new space will house and support staff currently working across the Boston area and is intended to underpin future corporate goals and global operations.
Workforce and operational intent
Over 300 employees of KKR are currently based in the Boston area, primarily connected to the firm’s insurance business. The downtown location is intended to serve as a hub for growth, recruitment, and investment in local talent, supporting work across key strategic areas tied to KKR’s broader business lines.
Building and renovation
The lease coincides with the near completion of a $100 million renovation at International Place, enhancing amenities and experiences. International Place is a 1.8 million-square-foot property designed by architect Philip Johnson, featuring modern lobbies and waterfront views. The redevelopment includes a new 25,000-square-foot Aries Club amenity center intended to provide fitness, meeting and event spaces and upgraded tenant services.
Property specifics
- Building name: Two International Place, part of the International Place complex.
- Total property area: 1.8 million-square-foot complex.
- Renovation budget: $100 million, near completion at the time of the lease.
- New amenity: 25,000-square-foot Aries Club amenity center.
Market context and significance
Industry observers describe the lease as an indicator of renewed interest in downtown office space. This lease is one of the most significant office commitments in Boston for the year 2023 and is viewed as reflective of a broader resurgence in demand for centrally located offices in the city.
Boston’s downtown office market is showing signs of stabilization and investment despite broader challenges in the sector. The Boston office market has experienced historic vacancy rates but is gradually recovering, with a reported vacancy rate decline to 21.2% in Q2. The KKR commitment adds a large, long-term occupancy to downtown inventory at a time when landlords and tenants are navigating shifting space needs.
Transaction and advisory team
A collaborative brokerage team from Jones Lang LaSalle, Newmark, and Cushman & Wakefield facilitated the transaction. The deal is among the largest office leases announced in Boston for the year and involved coordination between KKR, building ownership, and the advisory teams responsible for tenant representation and leasing execution.
Related corporate context
KKR’s previous office location at 20 Guest St. in Brighton reportedly occupied 46,290 square feet. The move follows KKR’s acquisition of insurance company Global Atlantic Financial Group in 2023 for $7.1 billion. The downtown expansion is intended to bolster the firm’s capabilities across its private markets, insurance-linked, and other strategic business areas, as well as to centralize key teams for operational efficiency.
Implications for building owner and local market
The building owner identifies the lease as a meaningful endorsement of the recent investment in International Place and its upgraded amenities. The addition of a major institutional tenant is expected to strengthen the building’s leasing profile and could encourage other firms evaluating downtown options. At a market level, the transaction is widely noted as contributing to a narrative of gradual recovery in Boston’s central business district.
What remains to be determined
Key next steps include the tenant fit-out schedule, anticipated occupancy timing, and any sublease or consolidation actions tied to KKR’s previous space in Brighton. Market watchers will track leasing activity and vacancy metrics in coming quarters to assess whether the downtown recovery trend continues.
FAQ
What lease did KKR sign?
KKR has signed a 15-year lease for 132,529 square feet at Two International Place in downtown Boston.
How significant is the lease for Boston?
This lease is one of the most significant office commitments in Boston for the year 2023.
Is this KKR’s first downtown Boston office?
KKR’s move marks its first office in downtown Boston, aimed at consolidating and expanding local operations.
How many KKR employees are in the Boston area?
Over 300 employees of KKR are currently based in the Boston area, primarily connected to the firm’s insurance business.
Does the lease align with any building renovations?
The lease coincides with the near completion of a $100 million renovation at International Place, enhancing amenities and experiences.
What is the size and design of International Place?
International Place is a 1.8 million-square-foot property designed by architect Philip Johnson, featuring modern lobbies and waterfront views.
What new amenity was added during redevelopment?
The redevelopment includes a new 25,000-square-foot Aries Club amenity center.
Who facilitated the transaction?
A collaborative brokerage team from Jones Lang LaSalle, Newmark, and Cushman & Wakefield facilitated the transaction.
How large was KKR’s previous Boston office?
KKR’s previous office location at 20 Guest St. in Brighton reportedly occupied 46,290 square feet.
Did KKR make any major acquisitions recently?
The move follows KKR’s acquisition of insurance company Global Atlantic Financial Group in 2023 for $7.1 billion.
What is the state of Boston’s office market?
Boston’s downtown office market is showing signs of stabilization and investment despite broader challenges in the sector.
How has vacancy trended recently?
The Boston office market has experienced historic vacancy rates but is gradually recovering, with a reported vacancy rate decline to 21.2% in Q2.
Quick reference table
| Item | Detail |
|---|---|
| Lease term | 15-year lease |
| Leased area | 132,529 square feet |
| Building | Two International Place (part of International Place) |
| Property size | 1.8 million-square-foot property |
| Renovation cost | $100 million (near completion) |
| New amenity | 25,000-square-foot Aries Club amenity center |
| KKR Boston headcount | Over 300 employees in the Boston area |
| Previous KKR space | 46,290 square feet at 20 Guest St. in Brighton |
| Recent acquisition | Global Atlantic Financial Group for $7.1 billion in 2023 |
| Market vacancy | 21.2% in Q2 |
| Brokerage team | Jones Lang LaSalle, Newmark, and Cushman & Wakefield |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Bisnow: KKR Signs Big Lease to Relocate & Expand Boston Office
- Wikipedia: Boston
- Boston Globe: KKR at International Place Office
- Google Search: KKR Boston office lease
- Boston Real Estate Times: KKR Expands Boston Footprint
- Encyclopedia Britannica: KKR
- Connect CRE: KKR Signs First Downtown Boston Office Lease
- Google News: KKR office expansion Boston
- Investing.com: KKR Signs 15-Year Lease
- Google Scholar: KKR Boston’s office lease
Author: STAFF HERE BOSTON WRITER
BOSTON STAFF WRITER The BOSTON STAFF WRITER represents the experienced team at HEREBoston.com, your go-to source for actionable local news and information in Boston, Suffolk County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Boston Marathon, Head of the Charles Regatta, and Boston Harborfest. Our coverage extends to key organizations like the Greater Boston Chamber of Commerce and Associated Industries of Massachusetts, plus leading businesses in finance, biotech, and insurance that power the local economy such as Fidelity Investments, Biogen, and Liberty Mutual Insurance. As part of the broader HERE network, we provide comprehensive, credible insights into Massachusetts's dynamic landscape.
