Charlotte-based Truist Financial Corp. is buying Hearst Tower in uptown from Cousins Properties for $455.5 million. The bank will rename the building Truist Center.
BB&T, SunTrust bank merger closes bringing new HQ to Charlotte
The transaction is expected to close in March, according to Atlanta-based Cousins. Truist was formed last week after the merger between the formerly Winston-Salem-based BB&T Corp. and Atlanta’s SunTrust Banks Inc. closed.
Truist is moving employees in phases into 561,000 square feet of the 47-story, 970,000-square-foot tower at 214 N. Tryon St.
Truist Center will house as many as 2,000 employees in the coming years with relocations and new hires.
Assuming the sale price remains the same at the expected closing in March, Hearst Tower will be a record-breaker in terms of total sale price for a single office transaction in North Carolina.
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