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Capital Group leases full 4th floor at 345 Park Avenue for 10 years

The lease is tied to a planned $38 million investment that is expected to create 200 new jobs in New York over the next five years.

Reported · Written up by our desk · Industry

Capital Group, the global investment management firm with $3.6 trillion in assets, has signed a 10-year lease for the entire 70,400-square-foot fourth floor of Rudin’s 345 Park Avenue in Midtown Manhattan, according to the landlord, with the new office opening in fall 2027.

Commercial Observer reports that the move comes as part of a broader $38 million investment expected to add 200 new jobs in the city over the next five years, and Gov. Kathy Hochul is expected to announce the news Tuesday along with state backing.

The firm will use the new space for an expansion that includes plans for additional sales hiring, with Capital Group also continuing to operate its New York City headquarters in a roughly 25,000-square-foot office three blocks north at BXP’s 399 Park Avenue.

The article says 345 Park Avenue is fully leased and already houses other tenants including Blackstone, East West Bank, and law firm Loeb & Loeb, which expanded to 178,959 square feet at the building in July.

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