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Thyssenkrupp Downsizing Headquarters At The Battery

Atlanta Office
Construction of Three Ballpark Center, the future home of Thyssenkrupp Elevator, continues.

Thyssenkrupp Elevator Americas is reducing the size of its headquarters before it even moves in.

The elevator maker will occupy less of the North American headquarters it is building at The Battery Atlanta than previously planned, company spokesperson Dennis Van Milligen told Bisnow in an email.

Thyssenkrupp announced in 2018 it would anchor 235K SF of the new, 306K SF office building, Three Ballpark Center, which Braves Development Co. owns and is developing, starting in 2022.

“Our original plan has been adjusted as we have redesigned our workspaces to be more modern and collaborative,” Van Milligen said. “As such, we have more space than we originally planned for based on current layouts.”

Thyssenkrupp still plans to employ 900 people in Metro Atlanta, spread out between its upcoming corporate headquarters and its Innovation and Qualification Center, the 420-foot-tall elevator testing facility it is also developing at The Battery.

Van Milligen also said the company will continue to occupy its business headquarters at Pennant Park, an 11-building, 1M SF office park near The Battery at Truist Park, home of the Atlanta Braves.

Van Milligen didn't indicate how many square feet Thyssenkrupp would keep at Three Ballpark Center, but officials with building general contractor Brasfield & Gorrie said Thyssenkrupp was taking four of the 11 floors in an August press release. That would mean, given the building's 31K SF floor plates, that Thyssenkrupp could downsize its footprint to 124K SF, leaving more than 100K SF of its leased space unused.

Van Milligen said he was unsure what the firm would do with the excess office space. Braves Development Co. CEO Mike Plant didn't respond to a request for comment as of press time.

“Subleasing remains a possibility, but no arrangements have been made,” Van Milligen said.

If the elevator maker does end up offering the extra space to outside companies, it could already have a prospect in Papa John's, which announced last week that it was moving its global headquarters from Louisville, Kentucky. Sources told Bisnow that Papa John's was focusing its office search on the Cumberland/Galleria area, specifically eyeing space at The Battery.

The change in its Atlanta corporate headquarters comes nearly two months after the German conglomerate Thyssenkrupp sold its elevator division — its most profitable — to a consortium of private equity firms for more than $20B.