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One South at The Plaza (formerly the
Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...
Plaza) is a , 40-story skyscraper in
Charlotte Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina. Located in the Piedmont (United States), Piedmont region, it is the county seat of Mecklenburg County, North Carolina, Meckl ...
,
North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...
. It is the 7th tallest in the city. It contains of rentable area of which of retail space, and the rest office space. On the ground floor is the
Overstreet Mall The Overstreet Mall is a series of pedestrian bridges in Uptown Charlotte. Proposed in 1971 and completed around 1977, the design was based on the design of the Milan Galleria and the Montreal Place Ville-Maria. The mall has about of walkways an ...
, which connects to neighboring buildings via skybridges; located below-grade is the parking garage with space for 456 vehicles and leases a nearby five-level garage, providing 730 additional parking spaces.


History

The building site was sold in 3 transactions. The Redevelopment Commission, the prior owner of the 3-acre building site, in March 1971 agreed to sell it to Independence Square Associates in multiple transactions for a total of $1 million. Independence Square Associates was a joint venture between North Carolina National Bank and Crow, Carter, and Associates. The first parcel was 1-acre and it was sold to ISA in August 1972. The second parcel was sold to ISA in late 1972. The final parcels were sold in May 1973. The site was originally between the business of the S.H. Kress & CO building, Simpson Photo Service, and a Belk department store occupied a portion of the block the building was being built on.Roy Covington, "Plaza Tower Digging Due By Weekend", ''The Charlotte Observer'', August 30, 1972. The construction cost was $40 million. North Carolina National Bank took out a $28 million loan from Metropolitan Life Insurance Company to cover construction costs for the tower and a 6-story 650 space parking structure. The tower was 1 of 3 buildings under construction or newly finished in Uptown at that time. These 3 also included the new Wachovia building and Southern National Center, the 3 added totaled of office space. At this point in Charlotte history, it was the biggest office building boom. However, developers were optimist that the new supply would be quickly occupied. Don Browning, general manager of Independence Square Associates stated this about his optimism about the market's ability to fill the office space in the building prior to its opening "If it continues the way it's been going, it will be more than 100 percent leased". This construction boom increased office space in Uptown from in 1969 to in 1974 at a development cost of $164.4 million. As predicted the building saw a lot of leases signed prior to opening. In February 1973 Aetna Life announced they had signed a lease for in the building to house 300 employees. In March 1973 Bache & Co. signed a lease for which included the 40th floor of the building. In June 1973 The Charlotte Athletic Club announced they had signed a lease for and planned to occupy the space in the fall of 1975. In December 1973 it was announced that the plaza of the building would have a 5 ton sculpture from Italy that was a rotating cast bronze disc 15 feet in diameter called " Il Grande Disco" is located in the plaza adjacent to the building. The sculpture was part of the plaza between the hotel and tower which included granite pavers, with trees and shrubbery throughout the plaza. The sculpture was created by Italian sculpture Arnaldo Pomodoro. In 1973 it was worth $400,000. In January 1974 another tenant announced they were leasing space ahead of the March 1974 building open. Korf Industries had signed a lease for . The company relocated their corporate headquarters from
Georgetown, South Carolina Georgetown is the third oldest city in the U.S. state of South Carolina and the county seat of Georgetown County, South Carolina, Georgetown County, in the South Carolina Lowcountry, Lowcountry. As of the 2010 United States Census, 2010 census ...
to occupy space on the 37th, 38th, and 39th floors. The building opened in March 1974 as NCNB Plaza, it served as the world headquarters for NCNB and its successor,
NationsBank NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
, until the opening of NationsBank Corporate Center in 1992. NCNB moved in over a 3-month period. It was the tallest building in North Carolina from its completion in 1974 until it was surpassed by One First Union Center in 1987. The tower is located at the intersection of East Trade Street and South Tryon Street. In May 1974 Midrex, a steel maker based out of
Toledo, Ohio Toledo ( ) is a city in and the county seat of Lucas County, Ohio, United States. A major Midwestern United States port city, Toledo is the fourth-most populous city in the state of Ohio, after Columbus, Cleveland, and Cincinnati, and according ...
, announced it was leasing the 40th floor in the building. Midrex was a subsidiary of Korf Industries formed in 1974 Also, in May 1974 Midrex posting an ad in the Charlotte Observer to recruit 225 people for engineering, design, and accounting jobs in Charlotte. The building has been renamed several times due to bank mergers. In January 1992 the building was renamed NationsBank Plaza after the completion of the C&S/Sovran Corp merger. In February 1999 as part of the Bank of America merger the building was renamed Bank of America Plaza and it maintained this named until it was renamed in 2019. NCNB Plaza was built along with the 350-room Radisson Plaza. In 1998, LaSalle Advisors of
Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...
owned
NationsBank NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
Plaza and the Radisson Plaza when
Omni Hotels Omni Hotels & Resorts is an American privately held, international luxury hotel company based in Dallas, Texas. The company was founded in 1958 as Dunfey Hotels, and operates 50 properties in the United States, Canada, and Mexico, totaling over 2 ...
, which exited Charlotte two years earlier, bought the hotel with plans for an $8 million renovation, making it a Four Diamond luxury hotel. In January 2006 it was announced that Bank of America had renewed their lease for . At the time of their renewal their space in the building was larger than the they occupied in their
Bank of America Corporate Center The Bank of America Corporate Center is an 871 ft (265 m) skyscraper in Uptown Charlotte, North Carolina. Designed by Argentine architect César Pelli and HKS Architects, and best known as the headquarters of the namesake Bank of Ameri ...
directly across the street. In November 2006 Behringer Harvard purchased the building for $194.1 million. At the time of the sale, it had of retail and of office space. It was Charlotte's 5th largest tower. In November 2010 it was announced that Bank of America would be reducing their leased space in the building by due to moving their move to recently completed 1 Bank of America Center. Bank of America plans to occupy 95% of the available space in 1 Bank of America Center. At the time of the space reduction Bank of America was still the largest tenant in the building occupying . In September 2011 law firm Alston & Bird signed a 10-year renewal lease for . The firm has occupied the building since 2001 when they moved from their office on Morehead Street. At the time of the renewal, they had 107 local employees. In September 2015 it was announced that the restaurant Essex will open a ground floor location by the end of the year. The location was formerly home Merrill Lynch's uptown offices and will extensive renovations. The space will open onto the plaza with outdoor seating covered in glass, the construction will require the existing fountain to be covered. In May 2016 the building's owner, TIER REIT, announced $20 million will be invested for renovations to add more street level retail. The renovations should be complete by May 2017. The building's previous bank branch now vacate, along with vacate office space, and part of the lobby will be combined to add street retail. The idea is to energize the corner at occupies at Trade St and Tryon St and enhance nightlife. Three restaurants that were able to open locations in the new space are Eddie V's with announced in March 2017, Deven & Blakely with also announced in March 2017,Indigo Road announced in October 2017 with and Tupelo Honey with which opened in March 2020. In November 2016 McNair Law Firm announced it will move into in the building. The move will provide the firm with more flexible and collaborative space. They were previously located at 301 South Tryon. In December 2017 Consolidated Claims Group relocated its headquarters from South Park to the building, occupying of space. The move will allow the company to continue to grow its headcount. At the time of the move CCG had 60 employees. In March 2019 Cousin's Properties Inc. became the building's new owner with their purchase of TIER REIT. The purchase provided Cousin's with of property across many Sunbelt cities including Charlotte. In Charlotte Cousin's has become an important landlord through numerous acquisitions. In January 2021 the building was renamed One South at The Plaza after Bank of America exit at the end of 2020. Their departure left . The space available is across floors 3 to 19. Cousin's, the building's owner, with the new name announcement also announced that the building will be ongoing a $10 million renovation. This will include corridor updates, elevator lobby renovations, changing the building signage, and updating the floors Bank of America occupied. In July 2021
Cousins Properties Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. The company has developed notable prope ...
sold the building to Tourmaline Capital Partners and Monarch Alternative Capital for $271.5 million. When the sale was final the tower was 58% leased. In February 2022 it was announced that law firm Alston & Bird would be relocating from the building to Vantage South End East Tower, occupying in the new building. At the time of relocation the firm had 200 local employees and occupied in the building. The East Tower is expected to deliver in May and has around of its preleased. In December 2022 Tourmaline Capital Partners completed a $7 million renovation of the building. The renovation focused on the creation of a third floor tenant amenity space. This new space includes new furniture, a full-service café with a barista, concierge service, on-site IT consultants, a work lounge with windows overlooking Trade and Tryon, a soundproof recording and podcast studio, and a virtual golf simulator. Jeff Fronek, Tourmaline managing principal, said this about the renovations "The third floor is the first phase of where we’re delivering on the promise of providing enhanced capabilities ... It's a space that feels good to be in," he said. "We knew through tracking the market, what it could be and thought we could play a constructive role in what the next chapter of this building and uptown could look like." As December 2022 the building is 53% occupied.


See also

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List of tallest buildings in Charlotte File:Skyline of Charlotte 2016.jpg, 350px, Skyline of Charlotte (Use cursor to identify buildings) poly 2920 668 2940 252 3044 104 3140 292 3172 428 3204 1380 3160 1384 3145 668 Bank of America Corporate Center poly 360 594 630 594 628 1266 600 ...
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List of tallest buildings in North Carolina This list of tallest buildings in North Carolina ranks skyscrapers in the U.S. state of North Carolina by height. The tallest building in North Carolina is the Bank of America Corporate Center in Charlotte, which contains 60 floors and is tall. ...


References


External links

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Emporis42FloorsSkyscraperpage
{{Charlotte skyscrapers Office buildings completed in 1974 Bank buildings in North Carolina Skyscraper office buildings in Charlotte, North Carolina Skyscrapers in Charlotte, North Carolina