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Cousins Signs 561K-SF Lease for BB&T, SunTrust Headquarters in Charlotte
Cousins Properties signed a 15-year, 561,000-square-foot lease for the proposed combined corporate headquarters of BB&T Corp. and SunTrust Banks Inc. at Hearst Tower in Uptown Charlotte. The 970,000-square-foot, 47-story trophy office building is located at 214 North Tryon St.
BB&T and SunTrust will take occupancy of the space beginning in August. Current tenants, including Bank of America, will move out to accommodate the combined company. Terms of the lease also include an option for BB&T and SunTrust to purchase the property from Cousins for $455.5 million.
The news comes several months after the boards of SunTrust Banks Inc. and BB&T Corp. unanimously approved an agreement to combine in an all-stock merger of equals valued at roughly $66 billion in February. Earlier this month, SunTrust announced plans to invest $300 million in the Atlanta area over the next three years.
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- ◦Lease
