• Merged BB&T-SunTrust bank to occupy most of Hearst Tower for HQ

    By: Ashley Fahey and Caroline Hudson, Charlotte Business Journal

    Updated:

    CHARLOTTE, N.C. - The proposed merger between BB&T and SunTrust has selected Hearst Tower for its Charlotte headquarters.

    The combined bank will lease 561,000 square feet at the North Tryon office tower. Its lease agreement includes a 15-year term at the 970,000-square-foot building in uptown, ultimately backfilling what is currently office space for Bank of America (NYSE: BAC), as well as an option to buy the tower from Cousins.

    [ALSO READ: Charlotte's affordable-housing campaign gets $30M boost from BB&T, SunTrust]

    The space could house up to 2,000 people in the future, the bank said.

    Winston-Salem-based BB&T Corp. and SunTrust Banks Inc. out of Atlanta are expected to merge later this year, a deal valued at $66 billion that would create one of the nation’s largest banks. It will be based in Charlotte.

    [ALSO READ: SunTrust shareholder sues to block $66B merger with BB&T]

    “We’re excited because we really think we can redefine the client experience and really create a meaningful change in the community. This is all about creating a smaller and easier client experience by really combining technology and the human connection, and thereby creating a high level of trust,” said BB&T Chief Executive Kelly King.

    Read the full story here.

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