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Cousins Completes $455M Sale of Hearst Tower to Truist
Atlanta-based Cousins Properties completed the sale of Hearst Tower, a 966,000-square-foot Class A office tower in Uptown Charlotte, to Truist Financial Corporation for a gross price of $455.5 million. The 47-story tower at 214 North Tryon St. will serve as Truist’s headquarters, and be renamed Truist Center.
Truist’s Kelly S. King says, “Today marks an important milestone in our journey as Truist Center becomes official. Charlotte is one of the world’s top financial centers and an emerging fintech hub, and Truist is proud to be a part of this thriving business community.”
Cousins Properties also completed the sale of its interest in Gateway Village, a one-million-square-foot office property in Uptown Charlotte, to its joint venture partner for $52.2 million. Following these deals, Cousins reports it has generated total gross proceeds of roughly $533 million during the first quarter of 2020.
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- ◦Sale/Acquisition
