PRESS RELEASE: Mixed-Use Project Midtown Union, Invesco’s Future Headquarters, Breaks Ground
Invesco President & CEO Marty Flanagan, MetLife Investment Management and Granite Properties Representatives Join the Ceremony
ATLANTA – December 9, 2019 – MetLife Investment Management (MIM), MetLife Inc.’s (NYSE: MET) institutional asset management business, Granite Properties, a commercial real estate investment, development and management company, and Invesco, the global independent investment management firm, are breaking ground this morning on Midtown Union. The major mixed-use development in Midtown Atlanta will serve as Invesco’s future global headquarters. Project partners, Invesco employees and community leaders are joining the ceremony.
Invesco is looking forward to the construction of their new global headquarters at Midtown Union. This expansion will add 500 jobs in Atlanta and build on Invesco’s forty-year history with the city. Invesco’s $70 million commitment to expanding in Atlanta demonstrates the value the community has brought to the firm since moving their global headquarters to Atlanta in 2007. This significant investment will also help Invesco continue to meet clients’ needs and attract top talent. Invesco is the sixth-largest U.S. retail asset manager and the thirteenth-largest investment manager globally, managing $1.2 trillion in assets on behalf of clients worldwide.
“The strong sense of community, convenient transportation and diverse talent pool continue to make Atlanta an attractive headquarters location as we grow our global business. We’re excited by the opportunity to build on our forty-year presence in the city and meaningfully expand our local team to nearly 1,200 professionals, which will enhance our ability to meet client needs here in Atlanta and across the globe,” said Marty Flanagan, President and CEO of Invesco.
“The Midtown Union development is a fantastic endorsement of Georgia’s pro-business environment and Atlanta’s continued commitment to attracting private sector investment to grow our local and state economies. Invesco, MetLife Investment Management and Granite Properties have formed a formidable partnership that will benefit the local Midtown community and the entire state of Georgia,” said Governor Brian P. Kemp.
Designed by Cooper Carry, with Brasfield & Gorrie as the general contractor, Midtown Union will be an iconic addition to the Midtown Atlanta skyline. Encompassing nearly a full city block, the project consists of:
- A LEED Certified, 606,000 square foot Class A office building developed by Granite Properties and MetLife Investment Management. The 26-story tower offers a multi-level hospitality lobby and 12,000 square feet landscaped outdoor amenity deck on the 8th floor. The deck will connect to a fitness center, conference meeting facilities and a pre-function area to support multiple meetings. The entire building will feature 14-ft floor-to-ceiling glass.
- A 355-unit modern residential tower atop eight levels of parking developed by StreetLights Residential in partnership with MetLife Investment Management. The 18-story multifamily offers studio, one, two and three-bedroom homes rich in amenities including concierge service, coffee bar, conference lab, co-working space, resident storage, pet spa, fitness center, club room and an outdoor amenity deck with pool, seating and grilling stations.
- A 205-key boutique lifestyle hotel developed by Stormont Hospitality Group and the Allen Morris Company in partnership with MetLife Investment Management. The 12-story hotel offers 5,000 net square feet of meeting space, a chef-driven restaurant, and a bar facing Arts Center Way.
- An extension of Arts Center Way creating a new pedestrian-friendly retail destination offering 30,000 square foot of shops, restaurants and green space.
- 635,000 square foot parking deck providing 1,909 parking spaces.
Mark Wilsmann, managing director and head of real estate equity investments, MetLife Investment Management, said: “We’re delighted that work today begins in earnest on Midtown Union, one of Atlanta’s landmark developments and the future world-class headquarters of Invesco. Developed in partnership with Granite Properties, Midtown Union will help create a dynamic and vibrant local community and further support job and economic growth in Atlanta.”
“Granite is excited to break ground on Midtown Union together with our partner MetLife Investment Management and we’re honored to develop Invesco’s global headquarters,” said John Robbins, senior managing director, Granite Properties. “Midtown Union will be a customer-centric development ideal for live, work and play. The office building is designed to attract and retain top talent with an innovative and productive work experience in a walkable neighborhood. The project will also make an exciting contribution to the community and extend Arts Center Way, offering a new pedestrian-friendly retail destination with shops, restaurants and green space,” he added.
Midtown Union is being leased by JLL and slated to open in summer of 2022.
Invesco is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in 25 countries, Invesco managed $1.2 trillion in assets on behalf of clients worldwide as of September 30, 2019. For more information, visit www.invesco.com
About MetLife Investment Management
MetLife Investment Management, MetLife, Inc.’s (NYSE: MET) institutional asset management business, is a global fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that meet a range of long-term investment objectives and risk-adjusted returns over time. For more information, visit https://investments.metlife.com.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991, with offices in Dallas, Houston, Atlanta, Denver and Southern California. It has completed more than $7 billion in real estate transactions and more than 27.1 million square feet of real estate development and acquisitions. Granite focuses on creating extraordinary customer experiences in each building through mixed-use environments rich in amenities and customer-centric service to help people flourish. Granite, a NREI Top Office Owner, has been named as one of FORTUNE’s Best Workplaces for eight consecutive years. For more information, visit www.graniteprop.com