Aegon Leases 20,600 SF at 125 West 57th Street for New HQ
Aegon Leases 20,600 SF at 125 West 57th Street for New HQ
Jones Lang LaSalle Incorporated announced that international financial services firm Aegon has secured a 20,600-square-foot lease at 125 West 57th Street in Manhattan’s Plaza District. The Dutch company, which specializes in life insurance, pensions, and retirement plans, will establish its new headquarters across two floors in the recently completed 30-story office tower.
The property is owned by a partnership between Alchemy-ABR Investment Partners and Cain International. Specific terms regarding the rental rate and lease duration were not disclosed. However, market context provided by Colliers indicates that the average asking rent for Class A office space in the Plaza District stood at $97.23 per square foot during the second quarter of 2026.
This transaction aligns with Aegon’s broader strategic initiative to relocate its head office and legal operations from the Netherlands to the United States. The company anticipates completing this transition and rebranding to Transamerica by January 1, 2028. Aegon currently manages the Transamerica brand within the U.S.
The deal highlights a specific trend in the Manhattan market, where tenants are gravitating toward new construction stock. JLL’s Kristen Morgan noted that the leasing velocity at 125 West 57th demonstrates the value tenants place on modern development, a relatively scarce commodity in the current market landscape.
Representing the ownership group in the transaction were JLL professionals Mitchell Konsker, Kristen Morgan, Christine Colley, Kate Roush, and Dan Turkewitz. Aegon was represented by Barry Zeller and David Downey of Cushman & Wakefield.
Jones Lang LaSalle Incorporated traded recently at $367.59, reflecting a decline of 2.76% from the previous close.
What to watch
- Look for updates regarding Aegon’s relocation progress leading up to the January 1, 2028 deadline.
- Monitor upcoming vacancy rates and rental price trends in the Plaza District for Class A space.
- Watch for future leasing announcements at 125 West 57th Street as the building continues to fill.
Source: original release