Wachovia South Tryon Projects

[ElricSeven]

Man.  Are they down to sharing "cubes" these days?   

<{POST_SNAPBACK}>

Yeah, I thought the purpose of a cube was that you could make it as small as you wanted to. Maybe they could stack them on top of each other.

Cubes always make me think about Office Space.

[dxartist]

at least it's not university

[A2]

Yeah, I thought the purpose of a cube was that you could make it as small as you wanted to.  Maybe they could stack them on top of each other. 

Cubes always make me think about Office Space.

<{POST_SNAPBACK}>

Classic movie E7.

A2

[ilektronik]

yea they make contractors share cubes here in the BS building, as if being in a cube wasn't punishment enough...now they are doubling up the cube farms.

where the hell did I put that TPS report???

[monsoon]

I guess they really did earn the nick name "Walk all over ya".

[Neo]

where the hell did I put that TPS report???

Hello Peter, what's happening? Did you get the memo?

[dubone]

Wachovia just bought WFSF and Westcorp.

http://www.charlotte.com/mld/charlotte/bus...es/12624651.htm

I'm sure they will be wanting to get a move on their Charlotte real estate... as i'm sure there is quite a bit of money to be saved by having employees in Charlotte rather than California.

I'm sure everyone will be glad to do away with the radio station name in exchange for a german-moravian name for a part of north carolina .

[A2]

I saw this too D. I am shocked to be honest wit you as it was reported earlier that Westcorp would buy not WB. Interesting. Now that there was all that speculation Wachovia just decided to buy both .

This will definately speed up the construction of the new tower.

A2

[A2]

OOPS I mis-post. The operations center will be based in Greenville,NC and the official place of business will still be in Irvine,CA. This is all inner-office stuff so it will probably not make it to the presses until tonight. Oh well. Still a great move by WB.

A2

[eastsider]

http://www.dailynews.com/Stories/0,1413,20...3050015,00.html

Interesting AP article from the LA Daily News website about the rivalry between the two big banks in Charlotte.

[monsoon]

Interesting pondering over what might happen to Wells Fargo. It's not clear to me which would be the one doing the gobbling a "merger" with Wachovia.

[A2]

http://www.dailynews.com/Stories/0,1413,20...3050015,00.html

Interesting AP article from the LA Daily News website about the rivalry between the two big banks in Charlotte.

<{POST_SNAPBACK}>

Thanks for the post ES.

A2

[AmericanUrbanDesigner]

http://www.dailynews.com/Stories/0,1413,20...3050015,00.html

Interesting AP article from the LA Daily News website about the rivalry between the two big banks in Charlotte.

<{POST_SNAPBACK}>

Very interesting story.

[CATFAN]

Wachovia bought another company. AmNet Mortgage Inc, San Diego-based mortgage Company

http://charlotte.bizjournals.com/charlotte...tml?jst=b_ln_hl

[dxartist]

Well, looks I'll have more work to do since Wach has bought these two companies. I don't forsee jobs being moved to downtown charlotte in the immediate future

[dxartist]

Interesting pondering over what might happen to Wells Fargo.  It's not clear to me which would be the one doing the  gobbling  a "merger" with Wachovia.

<{POST_SNAPBACK}>

I'm not familiar with Wells, but for arguments sake, Wach will want to do the "gobbling" IMO. When the FU/Wach merger happened, most of the Execs came from FU. When the Wach/SouthTrust Merger happened, just about all the Execs are Wachs except two and one of the two is just a figurehead board member. I don't see Wach wanting to give up equal control since most of the execs came from FU anyway. But seeing that these 2 banks are fairly equal size, anything can happen.

[skylinedrive]

I read in Doug Smith's Next Big Thing column that Crescent Resources (Duke Energy) sold the lot on S Tryon where this new Wachovia building is to go for $19M to RBC. Can one of you real estate people explain why Duke would sell the Wachovia tower land to RBC? I assume this RBC stands for Royal Bank of Canada.

[atlrvr]

They sold it to "R.B.C." which is the name Wachovia holds a good bit of their real estate under.....I have no clue what the initials stand for, but there is no relation to RBC Centure nor the parent company.

[skylinedrive]

Well that clarifies things. At least its good news the property is now in Wachovia's hands. Shows they are really serious about it to drop $19M on a surface parking lot.

[UrbanCharlotte]

Heard today that a possible 18-26 extra stories might be added to the first 35-40 projection and that it is going to be 100mil more than originally expected.

[peaceloveunderstanding]

let us hope this turns out as grand as possible. I wonder when a rendering of this beast is going to come out.

[RiverwoodCLT]

Is this building schedule to open in 2008? If it is, they better get going.

[MZT]

I'm skeptical Wells Fargo would sell. They have such a strong historical presence in the west... to the gold rush times.

Although I was surprised too, when BofA was willing to sell to NCNB. So I suppose anything is possible with enough $$$ on the table. It's just that Wachovia has shown some restraint in it's acquisitions. They aren't willing to pay any price to grow.

If Wells *did* sell, I wonder what would come of their Fort Mill campus...

[bork]

I'm skeptical Wells Fargo would sell. They have such a strong historical presence in the west... to the gold rush times.

Although I was surprised too, when BofA was willing to sell to NCNB. So I suppose anything is possible with enough $$$ on the table. It's just that Wachovia has shown some restraint in it's acquisitions. They aren't willing to pay any price to grow.

If Wells *did* sell, I wonder what would come of their Fort Mill campus...

<{POST_SNAPBACK}>

The companies have barely any overlap, and if you look at thier basic corporate cultures, they're very similar. That's a big part of a possible merger of this size.. Then again, seems there's no end to interesting surprises in the banking world.

[dubone]

Heard today that a possible 18-26 extra stories might be added to the first 35-40 projection and that it is going to be 100mil more than originally expected.

<{POST_SNAPBACK}>

from a reputable source?

we did already notice the increase in $100m, but when it was discussed here a few pages back, it didn't sound like 100m bought 18-26 stories.

there are quite a few here, including me, that thinks this project is wachovia's chance to measure up to bofa corporate center. While i know buildings don't go up for height's sake, wachovia needs the space and has the money, so.... let's go kentee!!!!