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BofA Renews 640,000-SF Downtown Office Lease

CHARLOTTE, NC-The bank renews its lease for 75% of Trizec Properties' two-tower Bank of America Plaza development. Earlier this year, it renewed a 330,000-sf lease for an adjacent building owned by Cousins Properties.

By Brian K. Miller | Updated on January 04, 2006

CHARLOTTE, NC-Bank of America renewed its 640,000-sf lease at Trizec Properties’ two-tower Bank of America Plaza development in this city’s Downtown core. The long-term lease renewal, signed just before the end of the year, keeps the bank occupying 72% of the 890,000-sf development.

Bank of America Plaza, which is 96% leased, has a wider low-rise portion and a skinnier high-rise portion. Doug Winshall, Trizec’s Eastern Region EVP tells GlobeSt.com that BofA leases 480,000 sf in the low rise and about 160,000 sf in the high rise, and does not have any options for additional space in the building. The building address is 101 S. Tryon.

The lease commitment was the largest BofA made in 2004. In July 2005, BofA inked a 15-year renewal for 330,000 sf in 101 Independence Center, a 526,000-sf building that sits adjacent to BofA Plaza. Shortly after the lease was signed, Cousins Properties sold the building to Jenkintown, PA-based American Financial Realty Trust for $100 million.

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