CHARLOTTE, N.C., March 6, 2018
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.
SOURCE F.N.B. Corporation