Regions 615

Regions 615 is a 19-Story Class-AA Office Building in Uptown Charlotte, North Carolina.[1] It stands at a height of around 260 feet (79 m)[1] with 370,000 square feet (34,000 m2) of floor space.[4]

Regions 615
General information
StatusCompleted
TypeOffice building
Location615 South College Street, Charlotte, NC
Coordinates35.221543°N 80.848154°W / 35.221543; -80.848154
Construction startedAugust 14, 2015
CompletedMay 17, 2017
OpenedMay 22, 2017
Cost$122 million
Height
Roof260 feet (79 m)[1]
Technical details
Floor count16 floors (19 in total with parking lots)
Floor area370,000 sq ft (34,000 m2)
Design and construction
Architect(s)Portman Architects
DeveloperPortman Holdings
Structural engineerHolder Construction LLC.
Other information
Public transit accessLight rail interchange Brooklyn Village
Website
www.regions615.com
References
[2][3]

History

The building was developed by Portman Holdings as the second part of a project that also involved The Westin Charlotte. The building intentionally has a look similar to the Westin. Originally the site was planned to be condos. However, as a result of the Great Recession demand for condos plummeted. When the building broke ground on August 15, 2015 it had no signed tenants.[4][5] and was opened on May 22, 2017.[6]

In September 2016 Regions Bank announced their lease of 63,806 square feet (5,928 m2) of the building under construction to become the first tenant. The bank occupies two and a half floors. The space holds capital markets division, specialized industries group, real estate banking division, corporate and commercial banking groups, and consumer lending division employees. At the time of the announcement Regions had 200 local employees.[7]

In June 2017 marketing firm Eric Mower + Associates announced it will be leasing 10,175 square feet (945 m2) on the third floor. It moved its 30 local employees from it midtown office later in the summer of 2017.[8]

In February 2017 BDO USA signed on to become the second tenant of the building occupying 24,837 square feet (2,307 m2) on the 12th floor.[9] The company relocated from its Morehead Square office in August 2017.[10]

In March 2017, WeWork signed a lease for the 8th & 9th floors occupying 51,547 square feet (4,789 m2) to open their first North Carolina office in Charlotte. The location opened in the summer of 2017. Adam Wacenske, general manager of the WeWork's southern region, said this about the new location "When we talk about where we want to launch a location, Charlotte makes perfect sense because it’s one of the fastest-growing cities, a ton of people are relocating there and it’s a top place to do business. We want to be where people are living, working and playing."[11]

In September 2017 Charlotte based Direct Digital announced it signed a lease for 17,681 square feet (1,643 m2) in the building. Direct Digital markets supplement and probiotic brands like Instaflex, Nugenix, Lumiday and Peptiva. The company relocated from NASCAR Plaza in January 2018.[12]

In June 2018 the building was sold to CBRE Global Investors for $222 million. At the time the price of $590 per square foot was a record price.[13] The previous record was $309 per square foot set by the 2016 sale of the Carillon Tower for $147 million.[14]

In October 2018 the building was renamed to Regions 615. Part of Regions originally leasing negotiations in 2016 included naming rights to the building in August 2018 the bank exercised those rights. [15]

In June 2019 MUFG Union Bank announced their intent to open a Charlotte office in the building renting WeWork to serve as an U.S. hub. The goal was to eventually have 300 Charlotte employees in operations, technology, and risk management. The bank planned to have all positions filled within a year and a half.[16] As of March 2021 the bank had 400 employees across their 26,710 square feet (2,481 m2) of space in the building. Going forward the bank will utilize a hybrid work model.[17] In September 2021 U.S. Bancorp agreed to buy MUFG Union Bank. However, MUFG stated that Charlotte will continue to be an important hub for operations and technology.[18]

In September 2023 law firm Katten Muchin Rosenman announced it will be moved from 550 South Tryon to the building to occupy 31,386 square feet (2,916 m2) on the 17th floor. This announcement brought the building's occupancy to 99%.[19]

See also

References
  1. "615 South College". Council on Tall Buildings and Urban Habitat. Retrieved October 7, 2021.
  2. "CHARLOTTE 615 South College". Retrieved 2015-07-31.
  3. "615 South College on target for early 2017 completion". Retrieved 2016-02-24.
  4. Fahey, Ashely (20 October 2017). "There's a new tower on deck in uptown Charlotte". Charlotte Business Journal. Retrieved 5 October 2022.
  5. "Uptown's newest office tower is underway at 615 South College". Retrieved 2015-08-14.
  6. "CHARLOTTE'S NEWEST OFFICE TOWER 615 SOUTH COLLEGE OPENS FOR BUSINESS - Portman USA". Retrieved 2017-05-18.
  7. Fahey, Ashely (13 September 2016). "Regions Bank to occupy 63,806 square feet at 615 South College". Charlotte Business Journal. Retrieved 5 October 2022.
  8. Fahey, Ashely (23 June 2017). "615 South College lands another new tenant". Charlotte Business Journal. Retrieved 5 October 2022.
  9. Fahey, Ashely (28 February 2017). "Accounting firm signs on for space at uptown office tower". Charlotte Business Journal. Retrieved 5 October 2022.
  10. "BDO signs lease for 12th floor at 615 South College". Retrieved 2017-02-28.
  11. Fahey, Ashely (13 March 2017). "Global co-working operator WeWork to open first N.C. office in Charlotte". Charlotte Business Journal. Retrieved 5 October 2022.
  12. Fahey, Ashely (20 September 2017). "Digital marketing company to double HQ space in uptown move". Charlotte Business Journal. Retrieved 5 October 2022.
  13. Fahey, Ashely (20 June 2018). "Uptown tower sells, setting record price". Charlotte Business Journal. Retrieved 5 October 2022.
  14. Fahey, Ashely (1 June 2018). "Upcoming office sales in uptown Charlotte expected to shatter records". Charlotte Business Journal. Retrieved 5 October 2022.
  15. Fahey, Ashely (2 October 2018). "Office tower in uptown gets new name, branding". Charlotte Business Journal. Retrieved 5 October 2022.
  16. Hudson, Caroline (30 June 2019). "International financial group opens uptown office with plans to add 300 jobs". Charlotte Business Journal. Retrieved 5 October 2022.
  17. Hudson, Caroline (19 March 2021). "MUFG exceeds Charlotte hiring targets, looks to bring on more employees as it builds hub here". Charlotte Business Journal. Retrieved 18 October 2022.
  18. Reilly, Mark; Calvey, Mark (21 September 2021). "U.S. Bancorp buying MUFG Union Bank for $8B to expand on West Coast". Charlotte Business Journal. Retrieved 5 October 2022.
  19. Franco, Elise (13 September 2023). "Chicago law firm Katten Muchin Rosenman to rightsize Charlotte office with uptown move". Charlotte Business Journal. Retrieved 16 October 2023.
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