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The Branch Banking & Trust Corp. has committed to lease 51,000 square feet of office space in the Park Tower building at 400 N. Tampa St. BB&T recently completed the acquisition of the asset holdings of Colonial Bank, which had occupied the Park Tower space since 1998. BB&T renewed the lease agreement with the owner, Sterling American Property Inc. for 10 years. The lease is valued at $11 million.
The site will be the headquarters for BB&T's Hillsborough area executive David Garbarino and his commercial banking team. BB&T's commercial real estate lending group and its residential lending operations will be also located in the building, along with more than 100 employees. BB&T will occupy the entire 12th, 23rd, and 25th floors, plus a portion of the 24th floor.
Claire Calzon of Colliers Arnold represented Sterling American Property in the transaction.
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