Aim Management Likely Anchor for 1-Mil SF Tower Project at Greenway Plaza

HOUSTON-A 1 million-sf tower is being proposed for the Greenway Plaza project on the Southwest Freeway in close-in Houston.

The tower’s key tenant may be the Aim Management Group, an asset management and mutual fund organization. Aim has signed a letter of intent regarding the possibility of being an anchor tenant in the 33-story tower, confirms an Aim spokesman.

Crescent Real Estate Equities of Ft. Worth, in partnership with Houston-based Senterra Real Estate, will develop the site. Crescent owns the six-acre site where the building will be constructed. Initial plans call for the new building to be complete in 2003. The building is slated to be built adjacent to the Compaq Center arena. A Crescent spokeswoman is declining to comment, saying it is too premature to discuss the proposal.

Aim currently occupies more than 500,000 sf in the adjacent mixed-use Greenway Plaza. The 4 million-sf Greenway Plaza project is more than 90% leased and expansion space is difficult to find.