A bank headquartered in North Carolina has purchased two suburban office buildings that could eventually accommodate hundreds of financial workers.
BB&T Corp. (NYSE: BBT) acquired LakePointe Corporate Center One and Two in two real estate transactions that totaled about $52.8 million, according to Mecklenburg County real estate records. BB&T, based in Winston-Salem, paid $29 million for LakePointe One and about $23.8 million for LakePointe Two, which were previously owned by a joint venture of Childress Klein and Artemis Real Estate Partners.
David White, a spokesman for BB&T, said the buildings are currently occupied by other tenants. As those leases expire, BB&T will begin to move "various departments" from other Charlotte buildings into LakePointe One and Two. It wasn’t immediately clear which departments would move to LakePointe or what buildings in Charlotte the bank could exit.
White said up to 800 BB&T employees could work out of LakePointe eventually, adding the bank’s long-term plans "will balance our needs for space with the plans of our tenants."
Tenants at LakePointe One and Two include Lendlease, which signed a seven-year lease for about 25,000 square feet at LakePointe One last year, and staffing agencies Aerotek and Associate Staffing.
BB&T’s primary office in the Queen City is at BB&T Center, at 200 S. College St. in uptown. The bank signed a 10-year renewal there in 2016 for 120,000 square feet, a slight decline from its previous lease of about 140,000 square feet. BB&T Center is the bank’s regional headquarters, home to several business lines, a full-service branch, Grandbridge Real Estate, BB&T Investments and BB&T Wealth Management. Philadelphia-based The Arden Group acquired BB&T Center last year for $148.5 million.
Childress Klein and Artemis, based in Chevy Chase, Md., purchased LakePointe Corporate Center One and Two in 2015 for $37.5 million. The six-story buildings total 331,611 square feet and sit on about 15.5 acres on West Tyvola Road, between Cascade Pointe Boulevard and Perimeter Pointe Parkway.
LakePointe, an office park with multiple owners, is otherwise home to companies like Sealed Air and Midrex Technologies.
BB&T Corp. acquired LakePointe Corporate Center One and Two in two separate real estate transactions that totaled about $52.8 million.