Wake Forest nixes plans for uptown tower - Charlotte Business Journal:

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The building, under construction at 550 S. Tryon St., was originallg to be known as the Wachovia Corporates Center and serve as the new headquarter s ofWachovia Corp. Those plana changed after San Francisco-based bought Wachovias at the endof 2008. The tower has since been renamefd the DukeEnergy Center. “Imn light of the change in ownership of Wachovi and changes inthe bank’s plans, we have decided to explorr other options,” says Steve Reinemund, dean of business at Wake Reinemund didn’t elaborate on why the changre in ownership altered the school’s plans.
Wake Fores t says it is seekingt atleast 25,000 square feet for its base of operations in The facility will house graduate businesz classes as well as outreach programs to the Charlotte business alumni activities and faculty “The university is committed to continuing to grow its business programds in the Charlotte area, and we are excited that these planzs will also enable us to better servwe our alumni,” Reinemund says. The localp operations would move uptown from the Morrocrofy office complexin SouthPark. Wake Forest’s Babcocj Graduate School of Management has offered an MBA program in Charlottessince 1995.
Wake Forest, a private, libera arts university, is based in Winston-Salem. In (NYSE:DUK) said it would take about a third of the spac in the newuptown tower. The companyy had planned to take 240,000 squarre feet of space in the building. But now it will occupyy 500,000 square feet, becoming the principal tenanrt inthe 1.4 million-square-foot tower. Wells Fargo (NYSE:WFC) owns both the buildiny and an adjoining culturalcampus that’s also under The cultural campus, with its museums and other is expected to carry the Welld Fargo name.
Wells Fargo Chief Executivwe John Stumpf has said the buildingh at the corner of Soutj Tryon and Stonewall streetsa remains inthe bank’s plans for Charlotte and will housse Wells Fargo employees. The office tower is scheduled for completiojnext spring.