![]() ![]() The bank evaluated real estate in markets where the two merged firms operate, deciding in Maryland to consolidate at the Baltimore SunTrust office and vacated BB&T’s space, where little time remained on the lease. Office vacancies jumped to 23.3%, up from 17.75% in 2019, the Downtown Partnership said in its State of Downtown Baltimore Report in April.Īnd total employment downtown fell to 117,970 in 2020 from 124,785 in 2019, reflecting the temporary loss of service-sector jobs in hotels, restaurants and construction. Office occupancy and employment downtown plummeted in 2020 as the coronavirus spread and businesses operated remotely or closed. The governor called the move “a shot in the arm” for downtown Baltimore’s economy, where vacancies have been on the rise. Larry Hogan announced a plan in April to relocate a dozen state agencies and about 3,300 Maryland state workers from the aging state office complex known as State Center just northwest of downtown to leased office space in downtown Baltimore. “You can feel the energy coming back with this commitment, the increasing numbers of office workers returning, and the incoming State Center move,” Stokes said. The new Truist sign will be the first big change to Baltimore’s skyline since the beginning of the pandemic, said Shelonda Stokes, president of the Downtown Partnership of Baltimore. Truist has been consolidating and closing some overlapping branches. Farno, Truist’s Maryland regional president, who previously filled that role for Atlanta-based SunTrust.īank branches, meanwhile, will convert to Truist between January and March. “We’re doubling down, and when the sign goes up it will be tangible that Truist is committed to downtown Baltimore,” said Gregory A. ![]() where SunTrust occupied 28,000 square feet, not including a first floor bank branch, and where its sign went up Friday. has decided to keep its Maryland regional headquarters in downtown Baltimore. Officials of the merged bank and others say it’s significant that Charlotte, North Carolina-based Truist Financial Corp. Truist became the Baltimore area’s fourth largest bank, based on deposits, with more than 1,600 employees across the state. The merger, a $66 billion deal completed in December 2019, created what is now the nation’s seventh-largest bank, joining megabanks the likes of JPMorgan Chase, Bank of America and Wells Fargo. and SunTrust Banks Inc., went up Friday on a downtown Baltimore office tower and will spread in coming months to branches across the Baltimore region. ![]() The new Truist bank brand, the name taken by the recently merged BB&T Corp. Baltimore Sun eNewspaper Home Page Close Menu ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |