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

[KJHburg]

 

I feel so sorry for them they are only down to 10 Fortune 500 HQs since they will lost SunTrust and previously announced First Data to of all places Milwaukee!

http://www.atlantarealestateinfo.com/atlanta-business-environment/

Give me a freaking break!  They just got 1000 job office for BlackRock, Amazon is expanding their offices there, 500 job office for Starbucks somehow I think they will survive.  Just like the phoenix that rose from Gen. Sherman's ashes they will rebuild!

This reminds me of their reaction to the snowstorm of 2014

https://www.nbc.com/saturday-night-live/video/weekend-update-buford-calloway/n45830

Edited February 20, 2019 by KJHburg

[Popsickle]

4 hours ago, Tyrone Wiggum said:

FTA: “It's sad to lose a Fortune 500 corporate headquarters. I don't think there's a way to spin it as a positive. It's neutral,” Ackerman & Co. President Kris Miller said.

 

[U_R_]

7 hours ago, KJHburg said:

 

I feel so sorry for them they are only down to 10 Fortune 500 HQs since they will lost SunTrust and previously announced First Data to of all places Milwaukee!

http://www.atlantarealestateinfo.com/atlanta-business-environment/

Give me a freaking break!  They just got 1000 job office for BlackRock, Amazon is expanding their offices there, 500 job office for Starbucks somehow I think they will survive.  Just like the phoenix that rose from Gen. Sherman's ashes they will rebuild!

This reminds me of their reaction to the snowstorm of 2014

https://www.nbc.com/saturday-night-live/video/weekend-update-buford-calloway/n45830

Technically First Data isn't considered a fortune 500 headquarters for Atlanta. Last year or the year before they moved it to NY b/c that is where the executive offices are. The official was still in Atlanta though, it is a little weird.

Edited February 21, 2019 by Ric0_0

[Tyrone Wiggum]

So, five of the ugliest towers in the Southeast.  What could possibly go wrong with a new HQ?

[KJHburg]

^^^First BB&T tower is was in Asheville.  It was converted to condos and a hotel and BB&T moved to a new building on the edge of downtown Asheville.  Below is what it looks like now Arras Hotel and Condos under construction in downtown Asheville. 

One thing about BB&T they have taken over banks and just occupied their buildings took over Southern National Bank in Winston in 3rd photo and same thing here in Charlotte with Southern National Bank 2nd photo and 4th building is in Atlanta at Atlantic Station.  They just leased space there because it highly visible at 17th St and I-85/75 downtown connector. 

 

[CLT2014]

18 minutes ago, Tyrone Wiggum said:

So, five of the ugliest towers in the Southeast.  What could possibly go wrong with a new HQ?

I would certainly expect something modest from a BB&T led company. Their culture does not have a big flashy ego. That culture of focusing on running the fundamentals of a business (and not vanity projects) is why BB&T was one of three large banks (also US Bank and M&T) to not report a SINGLE quarterly loss during the depth of the financial crisis. They also largely avoided settlements and unethical issues around the mortgage crisis that cost people their homes. 

I think if they do build a brand new building it will be rather modest. This is NOT the company culture that will build a super tall. 

Edited February 21, 2019 by CLT2014

[Tyrone Wiggum]

14 minutes ago, KJHburg said:

One thing about BB&T they have taken over banks and just occupied their buildings took over Southern National Bank in Winston in 3rd photo and same thing here in Charlotte with Southern National Bank 2nd photo and 4th building is in Atlanta at Atlantic Station.  They just leased space there because it highly visible at 17th St and I-85/75 downtown connector.  

So you're saying they built what is arguably the ugliest skyscraper in NC on purpose?

9 minutes ago, CLT2014 said:

I think if they do build a brand new building it will be rather modest. This is NOT the company culture that will build a super tall. 

Yeah, this is one that makes me nervous.  If Suntrust were the top dog we'd have pretty good odds of getting something at least above average, but given that KK is a clone of JA, expectation is:

Edited February 21, 2019 by Tyrone Wiggum

[Guest]

Personally I'm not putting an ounce of speculation into this prospect. I'm still not convinced its real. I'v heard whispers of incentive asks starting to pop up.

[SydneyCarton]

I'd love to see a new tower, but is it likely that BB&T will, in fact, construct one or just take some extra space in the existing tower?  For that matter, since they're keeping people in ATL and WS, how many jobs are even coming to Charlotte?  I'd like to see them all come, but I assume that's not likely.

[Sigma]

1 minute ago, SydneyCarton said:

I'd love to see a new tower, but is it likely that BB&T will, in fact, construct one or just take some extra space in the existing tower?  For that matter, since they're keeping people in ATL and WS, how many jobs are even coming to Charlotte?  I'd like to see them all come, but I assume that's not likely.

I think we will certainly see them construct something new.  They stated $100M will go into a tech center here in Charlotte.  Would love to see it tied into an HQ building.

[CLT2014]

11 minutes ago, SydneyCarton said:

I'd love to see a new tower, but is it likely that BB&T will, in fact, construct one or just take some extra space in the existing tower?  For that matter, since they're keeping people in ATL and WS, how many jobs are even coming to Charlotte?  I'd like to see them all come, but I assume that's not likely.

It will likely involve many of the functional departments over time (HR, Finance, Sourcing, etc...) and they did say their Digital and Technology hub will be Charlotte so I'd expect around ~2,000 jobs over time (about 30% bigger than Ally is here as a digital bank). Like most major banks, I'd expect the same job postings might allow you to work in Winston-Salem, Charlotte, or Atlanta. 

It is worth noting that BB&T's existing offices in Uptown have outstanding floor plans for digital teams. The floors with  60,000 square feet are huge and can easily be arranged for collaboration, agile teams, architecture, network security teams, etc... Other than Gateway Village, few buildings in Uptown have such large floors. Building a new tower will likely be incredibly expensive in Uptown to get the amount of space to do 60,000 square foot floors like their existing office. It might not be pretty, but it is very functional. 

Edited February 21, 2019 by CLT2014

[j-man]

Just now, Sigma said:

I think we will certainly see them construct something new.  They stated $100M will go into a tech center here in Charlotte.  Would love to see it tied into an HQ building.

They might as well just take over an entire undeveloped block in uptown (preferably on the north side) and develop it all there. 

[SydneyCarton]

6 minutes ago, Sigma said:

I think we will certainly see them construct something new.  They stated $100M will go into a tech center here in Charlotte.  Would love to see it tied into an HQ building.

I hope so, but I'm somewhat doubtful.  BB&T seems to be a pretty frugal company.  Let's keep our fingers crossed.

[cltbwimob]

20 minutes ago, ricky_davis_fan_21 said:

Personally I'm not putting an ounce of speculation into this prospect. I'm still not convinced its real. I'v heard whispers of incentive asks starting to pop up.

Please expound upon this

Edited February 21, 2019 by cltbwimob

[Sigma]

Just now, SydneyCarton said:

I hope so, but I'm somewhat doubtful.  BB&T seems to be a pretty frugal company.  Let's keep our fingers crossed.

Very true. To that point, I'd rather have the F500 HQ of a frugal company that stays profitable and out of trouble and builds a 20-30 story not so flashy HQ  than end up with a Wachovia c. 2008 type of situation.

[CarolinaDaydreamin]

39 minutes ago, ricky_davis_fan_21 said:

Personally I'm not putting an ounce of speculation into this prospect. I'm still not convinced its real. I'v heard whispers of incentive asks starting to pop up.

I'm gonna have to disagree with you on this one. I have heard from very high up Sun Trust people that are preparing to move to Charlotte as soon as this fall if confirmation of merger is approved. I don't think this is going elsewhere if that's what you're referring to.

[SydneyCarton]

26 minutes ago, Sigma said:

Very true. To that point, I'd rather have the F500 HQ of a frugal company that stays profitable and out of trouble and builds a 20-30 story not so flashy HQ  than end up with a Wachovia c. 2008 type of situation.

I agree, but I'm not sure that they'll even build a 20 story tower.  Hopefully, they will (or at least will anchor a new tower), but I see no evidence of it.  Right now, I'm just hoping that Duke produces something nice.

[KJHburg]

Those mega 60k floors in BB%T are mostly leased out to other tenants already.   The bank is just a tenant in this building no ownership but their lease is until 2026 as they just did a renewal.

[SydneyCarton]

36 minutes ago, KJHburg said:

Those mega 60k floors in BB%T are mostly leased out to other tenants already.   The bank is just a tenant in this building no ownership but their lease is until 2026 as they just did a renewal.

Maybe by 2026, they can acquire another bank, like Capital One or PNC, and then build a big tower.

P.S.: Have fun in Texas.  I really like DFW.

[lancer22]

I still remain adamant that this will be Legacy Union IV

 

[Guest]

1 hour ago, CarolinaDaydreamin said:

I'm gonna have to disagree with you on this one. I have heard from very high up Sun Trust people that are preparing to move to Charlotte as soon as this fall if confirmation of merger is approved. I don't think this is going elsewhere if that's what you're referring to.

I don't think its going anywhere else, I'm just not ready to speculate yet. 

[King of the Queen City]

I’m holding out hope that with the merger they will build an iconic tower that they can use for decades to come. I think this would be a good investment for them. It might not be the tallest or the flashiest, but it would help build brand recognition for a bank with a new name. It might not be something you would expect BB&T to do, but were any of us expecting them to merge with SunTrust?

[Guest]

16 minutes ago, lancer22 said:

I still remain adamant that this will be Legacy Union IV

 

If I were them, I'd build something on the corner of Mint & Stonewall looming 35 floors over the Bank of America Stadium field. 

[King of the Queen City]

13 minutes ago, ricky_davis_fan_21 said:

If I were them, I'd build something on the corner of Mint & Stonewall looming 35 floors over the Bank of America Stadium field. 

401 S. Graham would have made sense if FNB hadn’t already jumped on it since it is beside BB&T Ballpark but still could be visible from Bank of America Stadium.

[Guest]

3 minutes ago, King of the Queen City said:

401 S. Graham would have made sense if FNB hadn’t already jumped on it since it is beside BB&T Ballpark but still could be visible from Bank of America Stadium.

Nah, I don't think that'd be an option. Too small, too far from Tryon. Could see them taking up a good bit of footprint.