Bank of America Renews Charlotte Lease

The firm will increase its office footprint to a total of 318,000 square feet in the Fifth Third Center downtown.

Fifth Third Center in Charlotte
Fifth Third Center in Charlotte

Cousins Properties, owners of the Fifth Third Center in Uptown Charlotte, N.C., has signed a lease with Bank of America for 318,000 square feet in the 30-story high-rise. The transaction renews the bank’s previous lease and includes a 24,000-square-foot expansion. The lease will mature in 2025.

Bank of America originally owned the property which was built in 1996. The bank sold the office tower for $163 million in 2012 to Parmenter Realty Partners, who carried out extensive renovation work before selling the asset to Cousins for $215 million in 2014. Located at 201 N. Tryon St., the structure contains 671,282 square feet of office space over a 26,535-square-foot retail area. The LEED Silver certified property offers tenants more than 1,000 structured parking spaces, Wi-Fi in common areas and a number of on-site dining options.

“We are honored to announce that Bank of America has chosen to expand at Fifth Third Center and further its relationship with Cousins, one which spans over 30 years,” said Larry Gellerstedt, Chairman & CEO of Cousins, in a prepared statement. “We’re particularly delighted for Fifth Third Center to receive this type of endorsement from one of the most respected names in the financial business.”

Last year, Crescent Communities announced plans for a 26-story high-rise office building five blocks from the Fifth Third Center.

Image courtesy of Yardi Matrix