Invesco, an established Atlanta asset management giant, will be increasing their office space in Midtown Atlanta with a move to a soon-to-break-ground office building.
Invesco To Increase Midtown Atlanta Footprint: Add 500 New Jobs
The company just finalized it's highly publicized $5.7 billion acquisition of Oppenheimer Funds last month. Meanwhile, behind closed doors, Invesco was looking for a new home to accomodate their rapidly growing Atlanta headquarters.
Enter MetLife's Midtown Union project at 17th and West Peachtree Streets. The fixed income and real estate manager is funding the development of the new home for Invesco — a nearly 9-acre mixed-use project at 17th, Spring and West Peachtree streets. Invesco is expected to move into the project, officially named Midtown Union, in 2022. Invesco will put its nearly 1200 employees on the top floors of the 26-story office tower. They will occupy the 17-26th floors.
Midtown Atlanta was not without options for Invesco to consider. Take Hines' Atlantic Yards, Cousins' unnamed 31-story tower at 7th and West Peachtree and Selig Enterprises' 1105 West Peachtree. (Side note: I can remember the day when you mentioned building on West Peachtree and people looked at you like you were crazy...and now....almost every parking lot is GONE!)
Invesco's expansion will add some 500 new jobs in Atlanta. Interestingly enough, one of the reasons they chose Midtown Union was good access to the Downtown Connector for employees who commute from the suburbs. It should be noted that the Arts Center MARTA station is just a couple blocks away for those that DO choose to live in places like Brookhaven, Chamblee or Doraville and use transit to get to work.
Invesco has a long history in Atlanta. It was created in 1978 through a sale by C&S Bank, and later moved its operations to London after it was purchased by a British company in 1988. It’s been steadily growing since relocated back to Atlanta. Midtown is now the nexus for the asset management giant’s core units, including the head of trading and fixed income team.
As the new Invesco employees find their way to Atlanta, MyMidtownMojo.com looks forward to assisting them find the right place to call home!