Wake Forest nixes plans for uptown tower - Charlotte Business Journal:

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The building, under construction at 550 S. Tryon St., was originally to be known as the Wachoviaa Corporate Center and serve as the new headquarters ofWachoviaa Corp. Those plans changed aftee San Francisco-based bought Wachovia at the endof 2008. The toweer has since been renamed the DukeEnergy “In light of the changer in ownership of Wachovia and changes in the bank’d plans, we have decided to explor other options,” says Steve Reinemund, dean of businesse at Wake Forest. Reinemund didn’t elaborate on why the changde in ownership alteredthe school’ s plans. Wake Forest says it is seekinf atleast 25,000 squares feet for its base of operations in Charlotte.
The facility will houser graduate business classes as well as outreach programs to the Charlottrbusiness community, alumni activities and facultyu research. “The university is committed to continuing to grow its businesas programs in theCharlotte area, and we are exciteds that these plans will also enable us to better serve our Reinemund says. The local operations would move uptowbn from the Morrocroft office complexin SouthPark. Wake Forest’w Babcock Graduate School of Management has offered an MBA program in Charlottesince 1995. Wake a private, liberal arts university, is basef in Winston-Salem.
In February, (NYSE:DUK) said it woulcd take about a third of the spacew in the newuptown tower. The compangy had planned to take 240,000 squard feet of space in the building. But now it will occupy 500,000 square feet, becoming the principal tenan t inthe 1.4 million-square-foott tower. Wells Fargo (NYSE:WFC) owns both the building and an adjoining culturalcampus that’s also under The cultural campus, with its museums and othe r features, is expected to carry the Wells Farg o name. Wells Fargo Chierf Executive John Stumpf has said the buildinb at the corner of Soutnh Tryon and Stonewall streets remains inthe bank’s pland for Charlotte and will house Wells Fargo employees.
The office tower is schedulex for completionnext spring.