Invesco extends lease, decreases space at Greenway Plaza

Company chops office space by more than half

Invesco CEO Marty Flanagan and Eleven Greenway Plaza (Invesco, Google Maps)
Invesco CEO Marty Flanagan and Eleven Greenway Plaza (Invesco, Google Maps)

Invesco won’t be shopping for modern, smaller office space, but will instead remain in a smaller version of its current digs at Greenway Plaza.

The Atlanta-based company is extending its lease with Parkway Property Investments for more than ten years. It is also significantly reducing the space it occupies from 387,000 square feet down to 180,000 square feet. The company will remain at Eleven Greenway Plaza, in the 31-story, 746,000 square feet class-A tower at the 52-acre campus located between the Bayou City’s downtown and Uptown-Galleria neighborhood.

 The Hub atrium at Greenway Plaza (Photo via Shannon O'Hara)

The Hub atrium at Greenway Plaza (Photo via Shannon O’Hara)

CBRE’s John Shlesinger represented Invesco in the transaction, and Parkway’s Amanda Nebel handled the negotiations.

Financial terms of the lease were not disclosed.

Invesco’s connection to Greenway Plaza began over 40 years ago when it was a subsidiary of AIM Management, according to a press release from Parkway.

Despite many large companies seeking smaller spaces in more modern buildings, Parkways’s Eric Siegrist believes that Greenway Plaza’s location near River Oaks and West University can compete in a flight for quality environment.

He also suggested that companies seeking either new space or to instead stay put want the “experiential” amenities that the nearly 50-year-old Greenway Plaza campus offers, including a childcare center, common spaces and high-end restaurants.

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