Just one month after the merger between BB&T and SunTrust was approved, the new bank, named Truist, announced plans to purchase and rename one of Charlotte’s most iconic buildings.
This morning Cousins Properties, the current owners of the Hearst Tower, sent out a press release saying that Truist Financial Corporation will be exercising their option to purchase the Hearst Tower from them for $455.5 million.
The 46-floor-high rise in the heart of Uptown Charlotte will be renamed as the ‘Truist Center’ and will serve as the new headquarters for the merged Winston-Salem and Atlanta based banks.
“Truist’s decision to consolidate its operations in Charlotte and to acquire this signature office tower is the latest in a long list of major corporate relocations to Cousins’ Sun Belt markets and highlights the quality of our portfolio,” said Colin Connolly, President and Chief Executive Officer of Cousins Properties. “We are excited about recent momentum and look forward to future growth opportunities in Charlotte.”
What do you think about the new name for the Hearst Tower?