Hearst is leaving the uptown tower that bears its name, as the new bank that will form from the planned merger between BB&T and SunTrust banks readies to move in.
Hearst, a diversified media, information and services company, will move into a new eight-story building near Ballantyne, commercial real estate firm Trinity Capital Advisors said in a release Wednesday. BB&T and SunTrust banks said in June that Hearst Tower would be the corporate headquarters for Truist, the new bank they plan to form in a merger.
Hearst employs around 350 in Charlotte in accounting, information technology and other business-related support services, the firm said.
The company said it will move its Charlotte workforce into the new building next year. Hearst leased three floors of the 198,832-square-foot building in Toringdon Office Park near Interstate 485 and Johnston Road. Blue Cross Blue Shield, Coldwell Banker, Pepsi and others also have a presence in the corporate park.
Real Estate Investment Trust Cousins Properties owns and manages the Hearst Tower. In an email, Mark Holoman, senior vice president and managing director of Cousins’ Charlotte office, said the company has not yet announced plans for the name of the tower. Hearst said it has been in the uptown building for about 17 years.
BB&T and SunTrust announced plans to merge in February in an approximately $66 billion deal that, if approved by regulators, would create the sixth-largest bank in the U.S. by assets and deposits.
The banks have said the proposed bank’s offices would occupy more than half of the 46-story Hearst building, at 214 N. Tryon St.
The headquarters will house around 2,000 employees over time, they said. In June, BB&T CEO Kelly King called Hearst a “signature” tower in uptown.