CHARLOTTE, N.C., March 6, 2018 /PRNewswire/ -- F.N.B.
Corporation (NYSE: FNB), parent company of First National Bank,
today announced that it will serve as the anchor tenant for FNB
Tower-Charlotte. The new 31-story mixed-use tower, to be developed
by Dominion Realty Partners (DRP), will be located at 401 South
Graham Street and will serve as the headquarters for FNB's
Charlotte Region.
FNB Tower-Charlotte, named after its primary tenant, will be
ideally situated in the rapidly growing Center City area, highly
visible for the hundreds of thousands of daily commuters on both
I-277 and I-77. The environmentally certified mixed-use development
will contain over 160,000 square feet of Class A office space, 215
Luxury Class A residential apartment units, and street-level retail
space occupied by a state-of-the-art FNB branch.
Upon opening, FNB will occupy more than 30,000 square feet of
office space with additional options to expand to accommodate
future growth. FNB Tower-Charlotte will enable the consolidation of
its regional operations, driving improved efficiency, collaboration
and productivity to benefit FNB's clients, employees, communities
and shareholders. The building will create a central hub housing
regional leadership as well as Small Business Administration
Lending, Commercial Banking, Mortgage Banking, Builder Finance and
other departments.
FNB Tower-Charlotte builds on FNB's previously announced plans
to occupy a new regional headquarters building, FNB Tower-Raleigh,
in Raleigh, NC. Both buildings,
developed by DRP, affirm FNB's commitment to its newest markets,
contributing to job growth and overall community improvement.
"FNB's continued growth puts us in an exciting position to
participate in projects that contribute to economic expansion in
the markets we serve," said Vincent J.
Delie, Jr., Chairman, President and Chief Executive Officer
of F.N.B. Corporation and First National Bank. "FNB Tower-Charlotte
will provide our local teams with a centralized base to
collaborate, share experiences and engage with the community, which
enables us to even better serve our clients and the neighborhoods
we call home."
Delie added, "We are thankful that the cities of Charlotte and Raleigh are willing to work with developers to
produce new projects that allow companies like FNB to continue to
grow in our southeastern markets."
DRP Chairman and CEO Andy Andrews
commented, "We look forward to delivering Charlotte's newest tower in this extremely
visible and marquee location." FNB Tower-Charlotte will be DRP's
third recent large-scale project in the Charlotte market, and its second downtown
high-rise tower development with FNB as the anchor tenant. "This
location is surrounded by all of the growth and activity of Uptown
Charlotte, and we look forward to enhancing the Charlotte skyline with this efficient and
innovative high-rise development," stated Beau McIntosh, DRP Managing Director.
Delivery of FNB Tower-Charlotte is anticipated in late 2020. DRP
will manage the property once complete, and has yet to name who
will handle the commercial leasing. First National Bank was advised
in this transaction by Greg Broujos
of Colliers International and David
Thor of JLL, and DRP was self-represented in negotiating
this transaction.
FNB operates nearly 100 locations throughout North Carolina and South Carolina and maintains a top retail
deposit share in Charlotte,
Raleigh, Durham and the Piedmont Triad.
About F.N.B. Corporation
F.N.B. Corporation
(NYSE:FNB), headquartered in Pittsburgh,
Pennsylvania, is a diversified financial services company
operating in eight states. FNB holds a significant retail deposit
market share in attractive markets including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High
Point) in North Carolina.
The Company has total assets of $31
billion, and more than 400 banking offices throughout
Pennsylvania, Ohio, Maryland, West
Virginia, North Carolina
and South Carolina. The Company
also operates Regency Finance Company, which has more than 75
consumer finance offices in Pennsylvania, Ohio, Kentucky and Tennessee.
FNB provides a full range of commercial banking, consumer
banking and wealth management solutions through its subsidiary
network which is led by its largest affiliate, First National Bank
of Pennsylvania, founded in 1864.
Commercial banking solutions include corporate banking, small
business banking, investment real estate financing, international
banking, business credit, capital markets and lease financing. The
consumer banking segment provides a full line of consumer banking
products and services, including deposit products, mortgage
lending, consumer lending and a complete suite of mobile and online
banking services. FNB's wealth management services include asset
management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York
Stock Exchange under the symbol "FNB" and is included in Standard
& Poor's MidCap 400 Index with the Global Industry
Classification Standard (GICS) Regional Banks Sub-Industry Index.
Customers, shareholders and investors can learn more about this
regional financial institution by visiting the F.N.B. Corporation
website at www.fnbcorporation.com.
About Dominion Realty Partners
Dominion Realty
Partners (DRP) is a full-service real estate organization providing
development, management, leasing, acquisition and investment
services. Collectively the DRP team of professionals brings more
than five decades of real estate experience in handling quality,
environmentally-friendly commercial and residential transactions in
the Southeastern and mid-Atlantic United States. Having completed
over $2 billion in real estate
transactions, 3.6M square feet in
office projects and over 3,500 residential units, the DRP team has
the capabilities and experience to structure complex financial
arrangements and partnerships: each tailored to meet the specific
needs of the partnership and development objective. In the past
twenty-four months, DRP has developed and acquired over
$600 million in the mid-Atlantic and
Southeast. For more information please visit www.drp-llc.com.
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SOURCE F.N.B. Corporation