Having acquired an aspect of Morgan Stanley’s business this year, the investment management firm is looking to strengthen its position in the industry and build on its already considerable presence in Houston.
The company is headquartered in Atlanta, Georgia, however, Houston accounts for more of its rented office space than any other single location, with hundreds of thousands of square feet in use across the city.
With close to 400,000 sq ft involved, the recently agreed lease renewal on office space at Greenway Plaza is the largest in the city this year, according to a report from the Houston Chronicle.
The terms of the agreement have not been released, however, a restructuring of the office space is set to be instigated as Invesco aims to accommodate its hundreds of Texas-based employees as effectively as possible.
Ivy McLemore from the investment firm told the Chronicle that the company aims to “transform our office at 11 Greenway Plaza by creating a more modern, collaborative environment for 1,400 of our Houston employees”.
The idea is to establish an area of office space that “better reflects our brand identity as a leading independent global investment management firm,” she explained.
Invesco has office bases in dozens of cities worldwide, including important financial centres like London, Tokyo, Frankfurt, Dubai and Beijing.
Last week, the real estate investment giant British Land revealed its intention to invest £35 million into having its office building at 199 Bishopsgate in central London dramatically refurbished over the course of the next few years.
Editor’s notes: As of May 2023, Invesco remains in occupation at Suite 1000, 11 Greenway Plaza.
In 2022, the investment management company that was founded in 1978, posted revenues of $6.05 billion and employed over 8,600 people worldwide.