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BB&T-SunTrust - New Charlotte Headquarters

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7 minutes ago, Crucial_Infra said:

Does that account for Atlanta losing its First Data HQ to a merger recently? 

Yes, the most recent Fortune 500 list doesn't include them in the Georgia list. 

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Interesting to see what happens as both BB&T & SunTrust have both been rolling out dozens of new branches. We have a new SunTrust prototype up on 49 in Harrisburg that comes to mind... along with the new BB&T beside The Fresh Market on Fairview. 

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Since BB&T plans to keep many operations in W-S and Atl., what's the prospect that it will lease 200k-300k sf+ for a new HQ in Charlotte?  Does it have capacity in its existing tower?  I'd love to see it build a tower at LU and raze the terrible existing building which could ideally be replaced with a hotel-condo-rental tower.

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43 minutes ago, tozmervo said:

Does anyone have maps of their respective service footprints and how that will change?

image.png.86d9205208b186d61e34722f08dbec49.png

Here is a map of what I assume are branch locations.  Less overlap (a good thing) than I was expecting.

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7 minutes ago, SydneyCarton said:

Since BB&T plans to keep many operations in W-S and Atl., what's the prospect that it will lease 200k-300k sf+ for a new HQ in Charlotte?  Does it have capacity in its existing tower?  I'd love to see it build a tower at LU and raze the terrible existing building which could ideally be replaced with a hotel-condo-rental tower.

I don’t think there is any chance they stay in that current building. They will want a prominent spot.

 

I think the jobs in CLT will grow slowly over time. Especially since Wells has a lot of layoffs coming and some of those will surely be in Charlotte. Probably going to be some good talent available that this bank will want to snatch up.

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22 minutes ago, EllAyyDub said:

image.png.86d9205208b186d61e34722f08dbec49.png

Here is a map of what I assume are branch locations.  Less overlap (a good thing) than I was expecting.

Yeah I was about to say, most BB&T facilities in Atlanta aren't bank branches but Real Estate and Mortgage operations. I think Atlanta will still have a large portion of that branch of the business. The Robinson Humphrey division is where most of the people I know are a part of.

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Maybe more realistically, it would be nuts if Ally moved their HQ.   I am also curious how the Regions footprint overlays with their combined footprint.  I know Regions has a heavy presence in Alabama (obviously, HQ in Bham), but also in Arkansas.  Two or three years down the road, might Regions be a natural takeover/merger target for the new BBT/Suntrust bank?

Edited by J-Rob

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Sun Trust doesn't have much presence here at all.  The Building in mid town and a few branch banks. I moved from here to Nashville and Sun Trust was everywhere.  I thought I was going to have to change banks when I moved back.  Wells yes and change the name.  Not a good reputation right now.  Like First Union to Wachovia.

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10 minutes ago, J-Rob said:

Maybe more realistically, it would be nuts if Ally moved their HQ.   I am also curious how the Regions footprint overlays with their combined footprint.  I know Regions has a heavy presence in Alabama (obviously, HQ in Bham), but also in Arkansas.  Two or three years down the road, might Regions be a natural takeover/merger target for the new BBT/Suntrust bank?

I think betting markets had BB&T and Regions merging prior to this deal. It'll probably take 2-3 years just to complete this merger, but down the road it doesn't seem crazy.

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5 minutes ago, nashbill said:

Sun Trust doesn't have much presence here at all.  The Building in mid town and a few branch banks. I moved from here to Nashville and Sun Trust was everywhere.  I thought I was going to have to change banks when I moved back.  Wells yes and change the name.  Not a good reputation right now.  Like First Union to Wachovia.

image.png.e288671a47764da2156fa18922bbf817.png\

They have a decently big presence in SouthPark

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44 minutes ago, GeauxCLT said:

BBT and Kelly King are not flashy and I wouldn’t get your hopes up for some huge tower. They are crazy tight on expenses (employees have to stay in $36/night hotel rooms when the travel to Wilson NC!), but that kind of fiscal responsibility has served them well. I’d find it far more likely they quietly absorb floors in the current class B tower they already anchor than they come out with an announcement for a flashy new building uptown. And we need companies filling this space. Such great news for Charlotte!

Is there space available for them to absorb in the existing tower?  As much as I'd like to see a new HQ tower rise, I just don't envision it.  They're trying to maximize shareholder value.  In any event, even without a new tower, this is great news for Charlotte.

Edited by SydneyCarton
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Didn't know about that building. Don't go to South Park much at all.  When I moved here there was a branch off the Plaza which closed soon after I moved.  I knew of only 3 other branches.

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13 minutes ago, SydneyCarton said:

Is there space available for them to absorb in the existing tower?  As much as I'd like to see a new HQ tower rise, I just don't envision it.  They're trying to maximize shareholder value.  In any event, even without a new tower, this is great news for Charlotte.

 

Believe me. They’re gonna get plenty of shareholder value cutting all those branches.

I envision a new tower 

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56 minutes ago, GeauxCLT said:

BBT and Kelly King are not flashy and I wouldn’t get your hopes up for some huge tower. They are crazy tight on expenses (employees have to stay in $36/night hotel rooms when the travel to Wilson NC!), but that kind of fiscal responsibility has served them well. I’d find it far more likely they quietly absorb floors in the current class B tower they already anchor than they come out with an announcement for a flashy new building uptown. And we need companies filling this space. Such great news for Charlotte!

He's only CEO until 2022. Hopefully they anchor new building. 

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16 minutes ago, nashbill said:

Didn't know about that building. Don't go to South Park much at all.  When I moved here there was a branch off the Plaza which closed soon after I moved.  I knew of only 3 other branches.

Most of the SunTrust branches are concentrated in South Charlotte, where they have 10 branches stretching to the Union County border. 

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4 minutes ago, CLT2014 said:

Most of the SunTrust branches are concentrated in South Charlotte, where they have 10 branches stretching to the Union County border. 

Branches can also often be a poor indicator of “presence”. US Bank is a great example.  No branches but has 800 people in Charlotte. 

Retail public facing banking is only just a part of what these institutions do. 

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Can anyone put Key Bank's footprint on the BBT/Sun Trust footprint?  It was last month that Brian Moyanhan indicated more consolidation was on the way.

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With this news today Charlotte gains another Fortune 500 company second in 3 months with Honeywell and back to solid #2 banking center in the country.   BB&T just bought a building in Lakepoint Corporate Park across from Sealed Air HQ to consolidate some of their suburban offices but I think they might want more a more showcase building for this the new #6 largest bank in the country.   Now when that will happen is anyone's guess I would think they need to get the merger approved first by the end of the year as they expect then in 2020 looking at their real estate office footprint here in Charlotte.    SunTrust's office is only about 60,000 sq ft in SouthPark. 

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3 hours ago, TheOneRJ said:

Hopefully a 30000 ft tower 

This isn’t Dubai...or is it? :lol: Great win for Charlotte. :) 

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