Invesco Anchoring MetLife's Midtown Tower
One of the world's largest asset managers will anchor MetLife's newest Midtown project as it expands its global headquarters in Atlanta.
Invesco will move its headquarters to Midtown Union, a planned 26-story, 606K SF office tower off Spring and 17th streets, Gov. Brian Kemp announced May 30.
Invesco, which is adding 500 jobs at its headquarters, will lease 300K SF, officials confirmed. Developers MetLife Investment Management and Granite Properties expect to deliver the tower in August 2022.
Jones Day also was in talks to potentially lease space at Midtown Union, Bisnow previously reported. But the law firm has recently entered talks to lease space at Colony Square, the Atlanta Business Chronicle reported.
Invesco currently makes its home at Two Peachtree Pointe, but CBRE Vice Chairman John Shlesinger has been leading a team scouting the Atlanta market for the past few months. JLL Managing Director Adam Viente and Senior Vice President Brooke Dewey have been leasing Midtown Union for MetLife, but could not be reached for comment.
“To further strengthen our global operating platform, we will make a significant, $70M investment in our business here for the benefit of our clients, employees, and shareholders, while continuing to play an active role in our community,” Invesco CEO Martin Flanagan said in a release.
Invesco is the sixth-largest U.S. retail asset manager, and has more than $1.2 trillion in total global holdings. The company currently employs more than 650 people in Metro Atlanta. MetLife has been one of the many developers gearing up for new Midtown office development, alongside Selig Enterprises, Cousins Properties and Greenstone Properties.
There also has been plenty of big-tenant activity in the market that has many of these projects expected to deliver with significant tenants already in tow, including Google's plans to move into 200K SF at Selig's 1105 West Peachtree project.
“Invesco’s steadfast commitment to Atlanta is a great example of the Georgia success story, and I am pleased to be able to share this incredible announcement,” Kemp said. “Georgia’s unmatched pro-business environment has repeatedly served as a magnet for many global headquarters, but there is no greater endorsement than when one of our own chooses to grow and invest in the Peach State.”
UPDATE, MAY 30, 3:30 P.M. ET: The story has been updated to reflect an updated size of Midtown Union and input from MetLife.
