Parkway Inc. Begins Piecemeal Renovation Of Greenway Plaza
Greenway Plaza, with new ownership and a fresh infusion of capital, will undergo a series of renovations over the next few years.
Parkway Inc., a recent spinoff of the merger between Florida-based Parkway Properties and Cousins Properties, sold off 49% ownership in Greenway Plaza to a joint venture group of Canada Pension Plan, TH Real Estate and Silverpeak in February. Now, Parkway, which retained property management and leasing rights to the plaza, is moving forward with renovations, starting with an $800K overhaul of its management office, the Houston Business Journal reports.
The complex's security office will move into the redeveloped management office when completed, after which renovations will continue piecemeal all over the 10-building, 4.9M SF campus. One of the announced changes will be the conversion of the fitness facility from Houston City Club to a space run by national chain Lifetime Fitness.