History
In July 1985, Trammell Crow Co. and Norfolk Southern Corp. announced plans for the block between College and Brevard Streets and between 2nd and 3rd Streets. First Union Center, named for its main occupant, would include an 850,000 sqft 34-story granite and glass skyscraper[7] called Two First Union Center, which was to be Art Deco and the city's first postmodernist office tower. The project would also include a hotel, two office buildings and a park. Unlike nearby buildings with flat roofs, the JPJ Architects design used a roof where "[t]he top is rounded, a bold arch rising above the setback sections that enliven the principal facade ... this one looks like an old radio".[8] The first office tower was to start construction in December 1985 and be complete in 1987.[7]
By mid-1986, Two First Union Center had been changed to a 42-story building, to be Charlotte's tallest,[9] and by December, when NCNB and Charter Properties announced an even taller building, First Union's new headquarters was called One First Union Center.[10] The $100 million One First Union Center became the city's tallest building on August 21, 1987, with the pouring of concrete for the 41st floor–ending NCNB Plaza's 13-year reign as the tallest building in both Charlotte and the Carolinas.[11] When First Union employees began moving into the new building in February 1988, the name Two First Union Center referred to the bank's previous headquarters on Tryon Street.[12]
As of May 13, 1988, a foundation was in place for the planned hotel, expected to be 19 stories and 250 rooms, but Trammell Crow had not yet submitted plans to the county's building standards department. Omni Hotels was said to be interested in the site.[13] On October 18, 1990, the 22-story, 410-room Omni Charlotte held a ribbon cutting, though only eight floors of rooms were ready and fourteen stories had been completed. Omni president Bill Sheehan called it "probably our finest facility".[14] In 1996, The Yarmouth Group bought the Omni for $33 million and changed it to a Westin. In 1998, Hilton Hotels bought the hotel for about twice that much.[15] The hotel is now Hilton Charlotte Center City.
After First Union's purchase of Wachovia in 2001, and subsequent adoption of Wachovia's name in 2002, One First Union's name changed to One Wachovia Center.[16]
In 2007, Wachovia announced that it would be moving its headquarters to the new Wachovia Corporate Center, scheduled for completion in 2010.[17] After Wells Fargo announced its purchase of Wachovia in 2008, Duke Energy announced plans to take more space in the new building. In February 2009, Duke announced it would occupy the Duke Energy Center, formerly the Wachovia Corporate Center, as its corporate headquarters.[18]
In December 2010, the building was renamed to One Wells Fargo Center.[19] It housed the Wells Fargo East Coast Division. On June 14, 2012, Azrieli Group Ltd. of Israel announced it was buying the building for $245 million.[20]
Although Wells Fargo was the largest tenant, with 686,834 sqft, or 70 percent of the space, and the namesake of the building, it is occupied by several large North Carolina businesses and national law firms.[21][22] Wells Fargo Center also included Two Wells Fargo Center, Three Wells Fargo Center, the Hilton hotel, and a 58 unit condominium complex.[4]
In November 2012 it was announced that 1,500 Wells Fargo Securities employees would be relocated from the building to 550 South Tryon into a new 300,000 sqft space. This space in 550 South Tryon was originally intended to be a trading floor when 550 South Tryon was planned to be the new headquarters of Wachovia Corp. before the company was purchased by Wells Fargo.[23]
Starwood Capital Group of Greenwich, Connecticut and Vision Properties of Mountain Lakes, New Jersey announced plans to buy the building in February 2013. The $245 million deal closed in April.[24] The building was sold again in March 2016 for $284 million.[25]
Wells Fargo announced it would exit its lease of the building at the end of 2021. At that time, it was the largest tenant with 500,000 sqft. The company had been consolidating its Charlotte footprint with leasing the entire 300 South Brevard building,[26] expanding their employee space at the Duke Energy Center following Duke's departure,[27] and relocating additional employees in Three Wells Fargo Center. Wells Fargo's departure left several large blocks of continuous space available which included 224,776 sqft on floors 7 to 14, 148,469 sqft on 15 to 21, 59,132 sqft on 30 to 32 and 47,403 sqft on the top floors, 40 to 42.[26]
In February 2022 it was announced that Cushman & Wakefield will be handling leasing for the building. The building's landlord, Vision Properties, is almost finished with their $10 million renovations of the building. The renovations include improving the building's lobby, improvements to the outdoor plaza, and converting the top two floors into an amenity center. At the time of the announcement the building had a vacancy of 400,000 sqft.[28]
In October 2023 the building's owner Vision Properties defaulted on their $157 million loan. At that time the building was 52% occupied.[29] In April 2025 Foundry Commercial took over the building leasing, the firm was hired by Childress Klein, the court appointed receiver. At that time the building was 47% occupied with 525,000 sqft space available.[6]
