Wheaton Investment Office Moving to Downers Grove
Invesco PowerShares plans to move its office of about 70 employees to Downers Grove.
Wheaton's Invesco PowerShares Capital Management LLC office of 70 employees is moving to Downers Grove, according to Invesco spokesman Ivy McLemore.
Invesco, located at 301 W. Roosevelt Rd., will combine its Wheaton and Oakbrook Terrace offices, where 230 former VanKampen employees work, at the new Downers Grove office at 3500 Lacey Road, according to McLemore. The building at 3500 Lacey Road is also the Sara Lee headquarter building.
"We've made the decision to combine the 70 PowerShares employees in Wheaton and the 230 former Van Kampen employees in Oakbrook Terrace at one location in Downers Grove to enhance to overall experience for our employees and our clients and increase employee collaboration for the benefit of our firm," McLemore wrote in an email.
In 2010, Invesco acquired the retail asset management division of Morgan Stanley, which included Van Kampen Investments and the employees in Oakbrook Terrace, McLemore wrote.
The Wheaton office is a three-story, 43,000-square-foot lot at the corner of Naperville Road and West Street. The property was assessed at $870,841 in 2011, according to Milton Township Assessor records.
The intersection at Naperville and Roosevelt roads is also in transition with the pending sale of the old Hubble school property, where developers plan to build a Mariano's Fresh Market.
Invesco is the owner of the property in Wheaton. According to McLemore, the firm will "quite possibly" sell the property.
Wheaton Mayor Mike Gresk said the move and consolidation should take place early in 2013.