Charlotte Talks Business Roundup: Here Comes Truist; Office Space Is Pricey; Big Projects On Horizon
Monday, Dec. 2, 2019
Between the holidays, catch up on the area's business news, from bank mergers to plans for major projects, including a new uptown library.
The Truist era is about to begin. BB&T and SunTrust are days away from completing their $66 billion deal to combine as Truist and base the new bank in Charlotte in the biggest bank merger since the financial crisis.
The BB&T and SunTrust merger received the final pieces of federal approval Tuesday, allowing the largest bank merger since the financial crisis to move forward. The new bank, to be called Truist, will be based in Charlotte.https://t.co/IxwaZD8AsF— Danielle Chemtob (@daniellechemtob) November 19, 2019
As more and more jobs are announced for Charlotte, companies are experiencing sticker shock for office space. Office rents are climbing faster in Charlotte than anywhere else in the country, jumping more than 40 percent in five years.
Speaking of investor interest ... hot capital market activity has, in part, made Charlotte the fastest-growing office market for rental rate growth in the U.S. Some tenants are seeing up to a 30% increase at renewal time. This week's cover story: https://t.co/CfvRWEb4gP— Ashley Fahey (@CBJFahey) November 15, 2019
Grand designs for the uptown library have been unveiled as part of a redevelopment of the North Tryon corridor that hasn't seen much public progress lately.
Reporters from the business beat share the top stories.