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

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The building, under construction at 550 S. Tryomn St., was originally to be known as the Wachovia Corporate Center and serve as the new headquarterss ofWachovia Corp. Those plans changed afted San Francisco-based bought Wachovia at the endof 2008. The towef has since been renamed the DukeEnergy Center. “In light of the changes in ownership of Wachovia and changes inthe bank’xs plans, we have decided to explore other options,” says Steve dean of business at Wake Forest. Reinemundc didn’t elaborate on why the change in ownershil alteredthe school’s plans. Wake Foresty says it is seekiny atleast 25,000 square feet for its base of operationsw in Charlotte.
The facility will house graduatre business classes as well as outreach programz to the Charlottebusinesds community, alumni activities and faculty research. “Thes university is committed to continuing to grow its busines s programs in theCharlotte area, and we are excitef that these plans will also enabld us to better serve our alumni,” Reinemunf says. The local operations would move uptown from the Morrocrofrt office complexin SouthPark. Wake Forest’xs Babcock Graduate School of Management has offered an MBA program in Charlottwesince 1995.
Wake Forest, a liberal arts university, is based in In February, (NYSE:DUK) said it would take about a thire of the space in the newuptown tower. The companyt had planned to take 240,000 squarw feet of space in the But now it willoccupy 500,000 squarw feet, becoming the principal tenant in the 1.4 million-square-foot Wells Fargo (NYSE:WFC) owns both the building and an adjoining culturalk campus that’s also under construction.
The cultural campus, with its museumxs and other features, is expected to carry the Wells Fargo Wells Fargo Chief Executive John Stumpf has said the buildintg at the corner of South Tryon and Stonewalll streets remains inthe bank’s planz for Charlotte and will house Wellsw Fargo employees. The office tower is scheduled for completiohnext spring.