Truist and the Braves Development Company announce new national headquarters for Truist Securities inside The Battery Atlanta

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) announced the relocation of Truist Securities' national headquarters to a new 250,000-square-foot building at The Battery Atlanta. The construction is set to begin in the second half of 2022, with completion expected in 2024. This facility will support around 1,000 employees and feature a state-of-the-art trading floor. Truist has signed a 15-year lease and aims to strengthen its presence in Atlanta, enhancing its partnership with the Atlanta Braves.

Positive

• Moving national headquarters to a strategic location boosts visibility and business opportunities.
• The new building will accommodate approximately 1,000 employees, aiding in talent retention and recruitment.
• The state-of-the-art trading floor is expected to enhance operational efficiency.
• Truist has a long history (over 125 years) in Atlanta, reinforcing its commitment to the region.

Negative

• None.

Announcement Renews and Expands Truist's Presence in Atlanta

Strengthens Partnership Between Truist and the Atlanta Braves 

Construction of New Building to Begin at The Battery Atlanta in the Second Half of 2022

CHARLOTTE, N.C. and ATLANTA, April 6, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) and Braves Development Company today announced that Truist Securities, Truist's full-service corporate and investment bank, will relocate its national headquarters to a new Class A building to be constructed in The Battery Atlanta, adjacent to Truist Park, home of the Atlanta Braves.

The 250,000-square-foot building, that will be designed and built to a LEED standard, will be home to approximately 1,000 Truist Securities teammates, feature a state-of-the-art trading floor and be located immediately behind Truist Park—approximately 300 feet from home plate. Truist Securities will occupy approximately half of the building, giving Truist the option to house other Truist teams and expand its business presence over time. Construction is expected to begin in the second half of 2022 with the building expected to open in 2024.

"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," said Truist Vice Chair Beau Cummins. "On the heels of a World Series championship, we're proud to partner with the Braves and create this exciting new workspace. Our new headquarters will feature sustainable design, state-of-the-art technology, outdoor spaces to empower teammate collaboration, incredible proximity and access to Truist Park, and opportunities throughout the year for our teammates and clients to interact with all the unique amenities available in The Battery Atlanta."

"We are thrilled to welcome our partner Truist to The Battery Atlanta," said Mike Plant, President and CEO of Braves Development Company. "We have tremendous pride in our relationship with Truist, which is rooted in our shared purpose of serving our communities, customers, fans and building championship teams. Now together at The Battery Atlanta, we will further deepen our shared commitment and strong historical partnership."

Truist, with a more than 125-year presence in Atlanta, has entered into a 15-year lease agreement on the building. In addition to establishing a new national headquarters for Truist Securities in The Battery Atlanta, Truist will continue to maintain its strong presence at Truist Plaza in downtown Atlanta and many other locations across the metro region. 

"Today's announcement affirms Truist's commitment to and investment in Atlanta, and is an exciting expansion of our long partnership with the 2021 World Series Champion Atlanta Braves," said Truist Georgia Regional President Jenna Kelly. "Expanding our presence to The Battery Atlanta allows Truist to have an even more compelling impact across metro Atlanta and unlock new opportunities to advance Truist's purpose to inspire and build better lives and communities."

The Battery Atlanta, home to Truist Park and the future headquarters of Truist Securities, located in Cobb County is a two million square foot mixed-use development comprised of dining, retail, and entertainment and hospitality options. Truist will be the fourth Fortune 500 company to establish a global or business unit headquarters in The Battery Atlanta, joining Comcast, TKE and Papa Johns. Truist has also been a strategic partner in the financing and development of Truist Park and The Battery Atlanta.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by a historic merger of equals, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $541 billion as of December 31, 2021. Truist Bank, Member FDIC. Truist Securities is a trade name for the corporate and investment banking services of Truist Financial Corporation and its subsidiaries. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC. Learn more at Truist.com.

About Atlanta Braves
Based in Atlanta since 1966, the Braves are the longest continuously operating franchise in Major League Baseball. Since 1991, Braves teams have earned two National League wild cards, 19 division championships, six National League pennants, and two World Series titles. Atlanta Braves games are telecast on Bally Sports South and Bally Sports Southeast. Radio broadcasts can be heard in Atlanta on 680 The Fan (AM) and regionally on the Atlanta Braves Radio Network. Follow the Braves at braves.com, facebook.com/braves, and twitter.com/braves.

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SOURCE Truist Financial Corporation

FAQ

What is the significance of the new headquarters for Truist (TFC)?

The new headquarters at The Battery Atlanta aims to strengthen Truist's presence in Atlanta and enhance its partnership with the Atlanta Braves.

When will the construction of the new Truist Securities headquarters begin?

Construction is expected to begin in the second half of 2022.

How large will the new Truist building be?

The new building will span 250,000 square feet.

How many employees will the new Truist headquarters house?

The new headquarters will accommodate approximately 1,000 Truist Securities employees.

What is the expected completion date for the new building?

The building is expected to open in 2024.