Bank of America Corp will be consolidating its office space in Charlotte, North Carolina as part of a strategic effort. The company’s lease for its 316,751 square foot space at Fifth Third Center on 201 N. Tryon St., across from its global headquarters on 100 N. Tryon St., is set to expire in July 2025. Additionally, it will also be vacating the nearby Gateway Center where it currently occupies a 242,820-square-foot office after the lease expires in September.
According to reports from the Charlotte Business Journal, Cousins Properties – landlord for Fifth Third Center – has plans for significant amenity upgrades once Bank of America moves out. With an occupancy rate dropping from 92% to just over half at 53.7%, this move is expected to have a major impact on the property.
The bank’s employees will be relocated to four other offices within Charlotte that have sufficient space available without any job losses associated with these changes.
This consolidation marks an important decision by BofA and showcases their commitment towards streamlining operations and optimizing resources in their key locations such as Charlotte.
