The Chiofaro Co. signs 500,000 s/f in leases at International Place

Boston, MA According to The Chiofaro Company, in partnership with PGIM Real Estate, more than 500,000 s/f of office space has been leased at International Place over a 12-month period. With a weighted average lease term exceeding 10 years, the milestone represents one of the most significant periods of leasing activity in the city and signals both a sustained confidence in the value of the workplace and a strong commitment from employers and employees to return to the office for the long term.

Recent commitments from prominent companies including McCarter & English, TD Bank US, and KKR underscore the strong leasing momentum at International Place. This activity spans new leases, expansions, and renewals from notable firms like leading financial institution PNC Bank, global tax firm Ryan LLC, national insurance and financial services firm Alera Group, asset manager Callodine Capital, and software technology company Postman. This breadth of activity emphasizes a growing demand for best-in-class, amenity-rich office environments that foster collaboration, strengthen workplace culture, attract and retain talent, and elevate employee experience within the city’s urban core, specifically in the downtown.

The leasing momentum follows the completion of the Aries Club, International Place’s new 23,000-s/f, tenant-exclusive amenity center designed to deliver a hospitality-driven experience within a private club setting. The Aries Club is a central piece of International Place’s $100 million reinvestment, which is expected to be completed early this fall. 

Spanning approximately 1.8 million s/f across two of city’s most recognizable towers, International Place has undergone an extensive modernization focused on elevating the daily tenant experience. The tenant-exclusive amenity space, The Aries Club, serves as a destination and features premium meeting and conference facilities, lounge and social spaces, wellness-focused offerings, flexible work environments, and curated programming designed to foster community and engagement.  

Additional improvements include the comprehensive reimagining of International Place’s public spaces and lobbies; the transformation of the IP Commons into a vibrant green indoor gathering space designed for collaboration and connection; upgraded retail and dining offerings; enhanced technology infrastructure; and new indoor-outdoor experiences designed to meet the needs of today’s evolving workforce.

“Companies are making a clear statement about the future of work,” said Donald Chiofaro Jr., vice president of The Chiofaro Company. “In just 12 months, International Place has completed 32 leases totaling more than 500,000 s/f, with over 250,000 s/f representing tenants expanding their presence in Boston. That level of activity and lengthy commitment illustrates the long-term value tenants find in the best-in-class work ecosystem embedded in International Place. It is also a great indicator of the trajectory of the broader Boston office market.”

International Place’s leasing success also reflects a broader shift across the office sector as employers increasingly prioritize workplace quality as a tool to strengthen culture, improve productivity, and attract and retain talent. As companies across Boston implement more structured in-office attendance policies, demand continues to concentrate within premier, highly amenitized properties capable of delivering a differentiated workplace experience.

“Flight to quality is no longer simply a trend – it is the defining force shaping the office market,” said Chiofaro Jr. “Employees want environments that inspire them, and companies want workplaces that help drive innovation, mentorship, collaboration, and connection. The strongest office environments are becoming more active, more social, and more integral to company culture than ever before.”

Located in the heart of Boston’s Downtown Waterfront, International Place remains one of the city’s premier business addresses, offering convenient access to transit, the Rose Kennedy Greenway, waterfront amenities, hospitality, dining, and the financial district. The property is home to a dynamic roster of leading financial, legal, investment, and technology firms and continues to attract organizations seeking a modern workplace experience within an iconic Boston landmark.

“Surpassing 500,000 s/f of leasing activity over the past year reflects the confidence companies continue to place in premier office environments,” said Ryan Barrett of The Chiofaro Company. “We are seeing organizations make thoughtful, long-term decisions about where and how they want their people to work. International Place’s combination of location, amenities, flexibility, and investment in the tenant experience has positioned the property exceptionally well to meet that demand.”