Investment manager takes 48,000 square feet at Boston Properties’ Class A, 1.7 million-square-foot office building

JLL has completed a new transaction for Lexington Partners LP at 399 Park Avenue, which is owned by Boston Properties Inc. Lexington Partners, one of the largest independent managers of secondary and co-investment funds, signed a lease for 48,000 square feet at the Class A, 1.7 million-square-foot office building.

The tenant was represented by Martin Horner, executive managing director; Jim Wenk, vice chairman; and Kirill Azovtsev, managing director, all with JLL. Building owner Boston Properties was represented by Peter Turchin, vice chairman; Gregg Rothkin, executive vice president; Arkady Smolyansky, senior vice president; Evan Fiddle, first vice president; and Caroline Merck, senior associate, all with CBRE Group Inc.

“Lexington has been consistently expanding its headcount over the years,” said Wenk. “399 Park was a perfect fit to accommodate the growth of Lexington’s investment business.”

Lexington inked a 15-year lease for 48,000 square feet, and will occupy the entire 20th and 21st floors at 399 Park Avenue, which spans the full block between Park Avenue and Lexington Avenue, and between East 53rd and East 54th streets in Midtown Manhattan. The alternative investment manager is relocating from 660 Madison Avenue.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

About Lexington Partners LP

Lexington Partners is a leading global alternative investment manager primarily involved in providing liquidity solutions to owners of private equity and other alternative investments and in making co-investments alongside leading private equity sponsors. Lexington Partners is one of the largest independent managers of secondary acquisition and co-investment funds with $52 billion in committed capital since inception. Lexington has acquired over 3,300 secondary and co-investment interests through more than 800 transactions with a total value in excess of $54 billion, including $12 billion of syndications. Lexington also invests in private investment funds during their initial formation and has committed to more than 450 new funds in the U.S., Europe, Latin America, and the Asia-Pacific region. Lexington has offices strategically located in major centers for private equity and alternative investing ‐ New York, Boston, Menlo Park, London, Hong Kong, Santiago, and Luxembourg. Lexington also has senior advisors covering Asia, Australia, and the United States.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.