Truist - New HQ (BB&T-SunTrust Merger)

[Matthew.Brendan]

1 minute ago, J-Rob said:

Did @CLTDevelopment / @TyreeRicardo delete his UP profile?  Looks like his posts are gone?

 

New Job

¯\_(ツ)_/¯

Edited September 11, 2020 by Matthew.Brendan

[nicholas]

53 minutes ago, J-Rob said:

Did @CLTDevelopment / @TyreeRicardo delete his UP profile?  Looks like his posts are gone?

looks like he did. Hope he comes back at some point, his insight on here will be greatly missed.

[videtur quam contuor]

My guess: He works now (in some fashion) with or for a local base of a company involved with development and he cannot divulge all he learns. Bad form and fireable offense.

[KJHburg]

3 hours ago, tarhoosier said:

My guess: He works now (in some fashion) with or for a local base of a company involved with development and he cannot divulge all he learns. Bad form and fireable offense.

Bingo I would speculate you are right  and you win a 3 pack of Krispy Kreme doughnuts and I will let you know when I am at the office I mean store. 

3 hours ago, tarhoosier said:

 

 

Edited September 11, 2020 by KJHburg

[J-Rob]

5 hours ago, tarhoosier said:

My guess: He works now (in some fashion) with or for a local base of a company involved with development and he cannot divulge all he learns. Bad form and fireable offense.

That's what I would assume too.  Here is to hoping he comes back with an alias for non-fireable information.

[King of the Queen City]

11 hours ago, J-Rob said:

Did @CLTDevelopment / @TyreeRicardo delete his UP profile?  Looks like his posts are gone?

Wait. As soon as I log back on this happens? I guess we will have to learn stuff the way everybody else does now,  like through Channel 9’s “breaking news” story about the Gateway Station (Yikes!). That said, if he has a new job and found his way back from the Big Apple then that is a good thing both for him and the city of Charlotte.

Edited September 12, 2020 by King of the Queen City

[KJHburg]

why is Truist with their purple testing all these First Union green??

this evening.

[Hushpuppy321]

Can’t wait until Truist announces their New Tower - someone mentioned it could be part of the North Tryon redevelopment.

[Nick2]

1 hour ago, Hushpuppy321 said:

Can’t wait until Truist announces their New Tower - someone mentioned it could be part of the North Tryon redevelopment.

A lot of people speculated that it will be this tower mentioned in the spirit square redevelopment.

[Nick2]

I found a site plan for the new signage. It doesn't seem like it'll be too obnoxious.

2020_064_SitePlan_2020_3_30.pdf

Edited September 16, 2020 by Nick2

[KJHburg]

in more banking news from Truist this morning CEO King  is talking about real estate footprint.  I do believe most of these reductions are outside Charlotte but they own the 2 Lakepointe buildings near the VA center and of course they own the Truist (Hearst) Tower.  

""Charlotte-based Truist projected $1.6 billion in net cost savings by the end of 2022. This year, the bank accelerated its cost-cutting schedule to meet 40% of that goal — or $640 million — by the end of the year. Truist wants to reach $1.04 billion in net savings, or 65% of the goal, by the end of next year.  To do that, Truist is implementing a net 5 million-square-foot reduction in its non-branch real estate — a move it estimates will save an average of $150 million. That square footage spans about 300 locations, King said, who referred to it as "substantial excess." He said the bank will move forward aggressively with those reductions.  The bank has yet to share plans for its Charlotte-area real estate. Locally, Truist owns or leases several office locations, including Truist Center, the BB&T building at 201 South College, LakePointe Corporate Center and Sharon Square. It closed on Truist Center for its corporate headquarters at 214 N. Tryon St. in March in a $455.5 million deal.""

https://www.bizjournals.com/charlotte/news/2020/09/16/kelly-king-ceo-truist-cost-cuts-in-merger.html

My guess is that Truist will exit much of its space at Sharon Square when the lease is up and at  BB&T Center they signed a 10 year lease I thought right before the merger was announced but eventually they will exit that building.  That is my guesses. 

Edited September 16, 2020 by KJHburg

[atlrvr]

There is a lot of corp office overlap in Richmond, Atlanta, and a few Florida cities, but I agree, even Charlotte will see some reduction of certain locations, but I expect it to grow overall with expanding in Trust Center plus new rumored building above.

[KJHburg]

Lots of overlap in Atlanta especially at the Truist investment bank in based in Buckhead but they have lots of space in downtown in the Sun Trust Tower which with many corporate jobs now in Charlotte they have less of a need for space there.  Plus BB&T has their big office in Atlantic Station and they should probably keep that in midtown as it is highly visible on the Downtown Connector the busiest freeway in the southeast. 

[Blue_Devil]

29 minutes ago, atlrvr said:

There is a lot of corp office overlap in Richmond, Atlanta, and a few Florida cities, but I agree, even Charlotte will see some reduction of certain locations, but I expect it to grow overall with expanding in Trust Center plus new rumored building above.

I mean it is a merger. They are going to get rid of a bunch of space and consolidate. It makes complete sense. 

[Nick2]

Man this lighting scheme is awesome!

Source

[nicholas]

1 hour ago, Nick2 said:

Man this lighting scheme is awesome!

Source

Like neons mounted inside the rims of a lifted pickup truck.  Eye-catching, but....a little too much.

[KJHburg]

Charlotte the Vegas of Banking and High Finance! If we could do a laser and light show like Hong Kong we would move up in the global banking world. 

[michaelef]

Truist tower saw everyone stepping up the lighting game and said "Hold my beer". We did say that we could hardly see the purple lights, so it's partially our fault

[san]

3 hours ago, KJHburg said:

Charlotte the Vegas of Banking and High Finance! If we could do a laser and light show like Hong Kong we would move up in the global banking world. 

This really is all I want. One can dream...

[RANYC]

Gotta give it to Truist.  I'm always advocating for extraordinary, visual candy and visitor delights to get people to linger in Uptown and to get Uptown to stand out as the regional hub.  This light show is certainly doing that, albeit a bit garishly.  Go big or go home...going out of our way to differentiate...expect a splash when you see us coming...high energy - my perception of Truist brand.

[Madison Parkitect]

Can't overstress how much I love this new lighting scheme, it's garish and insane and it's such a great change of pace for Uptown.

[CharlotteWkndBuzz]

The other day when they were testing the lights, there was some fog or low laying clouds coming in. Created this really cool aurora effect in the sky. 
 

Panthers have one night prime time game scheduled this year. All I know is, is that thing better be on full blast in Panthers blue on October 29th for Thursday night football against the falcons. 

[KJHburg]

Saw some of the great Truist leased or owned space in Atlanta 2 week ago.  Truist Bank is going to be huge in the Atlanta market for sure.  

 1. Sun Trust Plaza   2nd tallest building the city.   SunTrust now Truist owns  this building outright. 842 feet. I can't imagine them selling this but who knows may move some other offices from other parts of Atlanta there.    2.  Midtown is leased BB&T branded building and I would keep some space there as it is so visible on the downtown connector (Atlantic Station 17th St.)  3.  Atlanta Financial Center atop GA 400 in Buckhead where Truist Securities old Sun Trust Robinson Humphreys  is based and will remain.  Again highly visible 4.  in Cobb the Truist Park home of the Braves of course it is a keeper.  

Wonder if they will hoist the Truist name on the 60 story SunTrust Plaza? 

In Charlotte as BB&T just signed a 10 year lease at the BB&T Center if they will keep that space as overflow or at least keep until lease runs out?  Plus Sun Trust regional office at SouthPark by the 2 story Starbucks and I could see them exiting most of that space except branch there.  Plus Truist now owns 2 buildings in Lake Pointe Corporate Center across from the VA clinic.  I think their footprint will grow here but they will be some shuffling around for sure.  

 

 

Edited October 5, 2020 by KJHburg

[Desert Power]

On 9/29/2020 at 4:43 PM, michaelef said:

Truist tower saw everyone stepping up the lighting game and said "Hold my beer". We did say that we could hardly see the purple lights, so it's partially our fault

Go us then, because this looks amazing. I love how this highlights the trading floor too. While little used since Banc of America Securities was a thing, it is really impressive.

Edited October 5, 2020 by Desert Power

[QCxpat]

Today 9:45 a.m.

Edited October 8, 2020 by QCxpat