Newell Rubbermaid Downsizing HQ, Leaving Three Glenlake
Newell Rubbermaid is packing up its HQ and moving to its own building elsewhere in Central Perimeter.
In late breaking news, the consumer goods giant just announced that it purchased 6655 Peachtree-Dunwoody Road, a 196k SF office building in Embassy Row. Details on the purchase were undisclosed, but it does mean that Newell Rubbermaid will be moving from its Three Glenlake Parkway campus—where it's been since the campus was developed for it by Greenstone Properties back in 2008. It plans to move to the new location by 2016. Newell CEO Michael Polk says "our new headquarters workspace will be collaborative, mobile, technology-enabled and more productive than our current headquarters."
The new building was foreclosed on by noteholders for $5.2M in 2012 and was under the umbrella of the special servicer CWCapital, according to Databank. Calls to Three Glenlake owner Columbia Property Trust were not returned as of press time. But it's clear from the size differences that Newell Rubbermaid intends to downsize, moving from Three Glenlake (here), which is nearly 375k SF, to the much smaller and more modest 6655 Peachtree-Dunwoody facility.