Development

Bank of America renewed a major lease uptown

mhames@charlotteobserver.com

Bank of America has renewed a lease for 194,000 square feet at 525 North Tryon, the building’s owner said Wednesday.

Grubb Properties and New York Life have added more amenities to the building, including a new gym for tenants, a bike storage room, free shuttle and electric car charging station. They bought the building in 2015 for $60 million.

“The North Tryon Corridor continues to be an attractive location for both current and prospective tenants,” said Charles Jonas, Charlotte market leader at Foundry Commercial, which has been marketing the building for its owners. “Having Bank of America, the largest tenant at 525 North Tryon, renew its lease with us not only solidifies the attractiveness of the region, but also authenticates the work and vision the team has for the building.”

Chase Monroe, Bryan White and Chris Schaaf of JLL also brokered the transaction.

Ely Portillo: 704-358-5041, @ESPortillo

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