There’s more Truist coming to The Battery Atlanta near the Braves ballpark in Cobb County.
Truist Financial Corp. said Wednesday it will move the headquarters of its securities and corporate banking division from Buckhead to a new office building just steps from Truist Park.
The securities division will anchor a new 250,000-square-foot office building “approximately 300 feet from home plate.”
Truist Securities will occupy about half of the building, and parent company has an option to move other units of its business or future expansions into the building, the release said. The lease term is 15 years.
Construction is slated to start in the second half of this year with an opening expected in 2024, according to the release. Truist said about 1,000 employees in its securities division, which is currently based in Buckhead’s Atlanta Financial Center complex, will move to the future Cobb office.
The move by the Fortune 500 financial giant is a blow, however, to the Buckhead office submarket.
Tim Tucker/AJC
Tim Tucker/AJC
“The new Truist Securities headquarters in The Battery Atlanta will be a unique location that will help us continue to attract, develop, and retain best-in-class teammates in order to better serve our clients,” Truist Financial Vice Chairman Beau Cummins said in a news release. “On the heels of a World Series championship, we’re proud to partner with the Braves and create this exciting new workspace.”
Truist, based in Charlotte, formed through the 2019 merger of Atlanta-based SunTrust and North Carolina-based BB&T. Truist’s name replaced the SunTrust brand on the Braves’ stadium following the corporate tie-up.
The Battery is a 2 million-square-foot mix of restaurants, retail, entertainment, hospitality and corporate offices. The Braves said Truist will be the fourth Fortune 500 company to have a major business unit or headquarters in the complex, including Comcast, TKE (ThyssenKrupp Elevator) and pizza giant Papa John’s.
Wednesday’s announcement comes on the eve of Opening Day for the Braves 2022 season, as the club prepares to defend its World Series championship.
HYOSUB SHIN / AJC
HYOSUB SHIN / AJC
Mike Plant, president and CEO of Braves Development Co., said the team has “tremendous pride in our relationship with Truist, which is rooted in our shared purpose of serving our communities, customers, fans and building championship teams.”
Information about potential incentives for the project was not immediately available. ThyssenKrupp and Papa John’s each received tax breaks as part of their moves to The Battery.
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