A big block of vacancy is coming on the market in an office tower at Trade and Tryon streets, but new landlord Cousins Properties Inc. is overall optimistic about backfilling that space.
[ALSO READ: Another office building planned in South End]
Atlanta-based Cousins, following last month's roughly $8 billion merger with TIER REIT, has added another central business district tower to its Charlotte portfolio, the 891,000-square-foot Bank of America Plaza tower at 101 S. Tryon St. Following the TIER deal, this makes Cousins an even bigger landlord in Charlotte's CBD, with its other holdings here including Fifth Third Center, Gateway Village, Hearst Tower, NASCAR Plaza and the recently delivered Dimensional Place in South End.
Charlotte-based Bank of America is the major tenant at Bank of America Plaza today but will soon exit that 40-story tower, with the bank consolidating employees who work in that building and Hearst Tower into other properties in the CBD, including Bank of America Tower at Legacy Union. BofA leases 295,000 square feet at Bank of America Plaza, with its term expiring in late 2020, opening up about 16 floors at the tower.
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