Capital Group signs 70,000 square foot lease at 345 Park Avenue

Capital Group, a Los Angeles-based global investment management firm, has signed a 10-year lease for 70,400 square feet at 345 Park Avenue in Midtown Manhattan. The firm will occupy the building’s fourth floor, with plans to open the new office in the fall of 2027.

The deal is part of a $38 million investment by Capital Group intended to create approximately 200 new jobs in New York City over the next five years. This expansion serves as a second location for the firm in the city, as it will continue to maintain its existing 25,000-square-foot headquarters at 399 Park Avenue.

With this lease, Rudin’s 345 Park Avenue has reached full occupancy. The move follows a period of recovery for the building after a fatal shooting occurred at the site one year ago.