Key Takeaways
- • Morgan Stanley expands its footprint at The Edison Alpharetta from 116,000 to 216,000 square feet, nearly doubling its occupancy across the two-building office complex in North Fulton, Georgia.
- • The property is owned by Invesco Real Estate, a global real estate investment manager; Stream Realty Partners represented the landlord while JLL represented Morgan Stanley as tenant.
- • Morgan Stanley's lease expansion represents one of the largest office transactions in the Atlanta market in 2023, occurring during a period marked by subleases, downsizing activity, and sluggish commercial real estate conditions.
- • The Edison Alpharetta is a loft-style office development totaling 216,000 square feet of rentable space across two buildings joined by a common courtyard, featuring fitness and dining amenities.
- • This expansion demonstrates institutional investor confidence in the Alpharetta submarket and reflects Morgan Stanley's continued strategic commitment to its Atlanta-area operations.
Summary
Morgan Stanley has signed a long-term lease extension at The Edison Alpharetta, expanding its office footprint by 100,000 square feet to occupy all 216,000 rentable square feet across the dual-building complex located at 1 and 3 Edison Drive. The financial services firm currently operates from 116,000 square feet at the property and will consolidate its entire Alpharetta operations under the new arrangement. Specific lease terms and rental rates were not disclosed.
The transaction was facilitated by Stream Realty Partners Managing Directors Bryan Heller and Peter McGuone representing the landlord, Invesco Real Estate, while JLL represented Morgan Stanley as tenant. The Edison Alpharetta is a loft-style office development in the North Fulton submarket featuring two connected buildings with a central courtyard, fitness facilities, dining options, and meeting spaces. First-floor suites include roll-up overhead doors providing direct courtyard access, and the location benefits from proximity to major retail and recreational destinations including Avalon and Big Creek Greenway.
According to Stream Realty Partners, this expansion constitutes one of the largest office lease transactions in the Atlanta market during the period in which it was announced—a significant milestone given the challenging macroeconomic environment characterized by tenant subleases, widespread downsizing activity, and reduced commercial real estate momentum. The lease extension underscores Morgan Stanley's confidence in the Alpharetta market as a strategic hub for its operations and signals institutional investor appetite for quality office assets in suburban Atlanta submarkets during a period of broader real estate headwinds.
The transaction was facilitated by Stream Realty Partners Managing Directors Bryan Heller and Peter McGuone representing the landlord, Invesco Real Estate, while JLL represented Morgan Stanley as tenant. The Edison Alpharetta is a loft-style office development in the North Fulton submarket featuring two connected buildings with a central courtyard, fitness facilities, dining options, and meeting spaces. First-floor suites include roll-up overhead doors providing direct courtyard access, and the location benefits from proximity to major retail and recreational destinations including Avalon and Big Creek Greenway.
According to Stream Realty Partners, this expansion constitutes one of the largest office lease transactions in the Atlanta market during the period in which it was announced—a significant milestone given the challenging macroeconomic environment characterized by tenant subleases, widespread downsizing activity, and reduced commercial real estate momentum. The lease extension underscores Morgan Stanley's confidence in the Alpharetta market as a strategic hub for its operations and signals institutional investor appetite for quality office assets in suburban Atlanta submarkets during a period of broader real estate headwinds.
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