Wells Fargo has signed a lease for the new office building under construction at Ballantyne Corporate Park, providing space to combine existing teams of employees and provide for future growth.
The bank, which employs more than 23,000 in Charlotte, signed a lease for the 287,500 square-foot, 10-story Brigham building on North Community House Road. Ballanytne developer Bissell said the building should be complete in November, with the first Wells Fargo employees arriving in 2017.
The office building will provide space for up to 1,600 Wells Fargo employees, according to a message to employees obtained by the Observer and confirmed by Bissell. The transaction is part of the company’s Workplace 2020 initiative to streamline office space.
“Wells Fargo continues to see steady growth in Charlotte, which has challenged our ability to meet our workspace needs,” said Bob Bertges, corporate properties director for Wells Fargo, in a statement. “Finding a solution to our space needs has been a top priority and we believe this new building will help us better handle the demands we are facing and provide us with room for future growth.”
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Wells Fargo is still working to identify which teams will move to the new Ballantyne location, which the company said will provide convenient access for employees, reduce many commute times and offer space for future growth. The company said its continued growth uptown since the 2008 purchase of Wachovia has strained its existing space.
“We are honored Wells Fargo has chosen to expand its presence in Ballantyne Corporate Park,” said Smoky Bissell, chairman of the Bissell organization, in a statement. The Brigham building overlooks the 12th hole at the Golf Club at Ballantyne, and is built to meet LEED gold energy efficiency certification.
Bissell kicked off the new Brigham building in August 2015. The company built the project on a speculative basis, without an anchor tenant, as it also did for the rest of buildings in Ballanytne Corporate Park. The Brigham will be the first new office building completed at Ballantyne since 2012, when Bissell finished a pair of new buildings that were occupied by MetLife.
Bissell still has entitlements to develop about 2 million square feet of additional office space in Ballanyne, and the company is planning to develop a new hotel near the Brigham building next.
The company said it signed new leases or renewals totaling 185,000 square feet in the third quarter this year, with tenants including TD Bank, Novant Health, Meritage Homes and Movement Mortgage.