In Partnership with Highwoods Properties, First Phase of Development & Construction Begins, Anchoring the Bank to Key Charlotte Market
CHARLOTTE, NC – Today, United Bank announced the groundbreaking of its new flagship regional office, in the bustling South Park neighborhood of Charlotte. In partnership with Highwoods Properties, United will open a new 18,000-square-foot facility in sought-after Morrocroft, a timeless office project in the heart of the South Park submarket. The two-story modern building will house an engaging retail experience as well as space for key Bank functions including commercial banking, mortgage, digital banking, wealth management and brokerage.
“United Bank expanded our presence in the Southeast in 2020, and we are thrilled to strengthen our roots in Charlotte with our upgraded space at Morrocroft,” said Richard M. Adams, Jr., CEO, United Bankshares, Inc., parent company of United Bank. “Last year marked one of the most successful in our Company’s 184-year history, and this was thanks in large part to our new markets in the Carolinas, which continue to grow in exciting ways. We are deeply committed to serving our friends and neighbors in Charlotte as well as our communities throughout the Carolinas, and we are grateful to partner with Highwoods Properties to make our vision of bolstering our presence here a reality.”
Designed and constructed by Morrocroft’s original architect and general contractor, Charlotte-based LS3P and Shelco respectively, United Bank’s new Charlotte home will build upon Morrocroft’s foundation of unrivaled quality via a modern architectural addition with expansive glass curtainwall, clean lines and an exterior balcony. The open, steel frame building will have a two-story atrium with an interconnecting monumental staircase. The first floor will house wealth management, brokerage, mortgage and retail banking. The second floor will include commercial banking, commercial real estate, regional executive management, a board room and a balcony overlooking Carnegie Boulevard.
“Morrocroft has long been South Park’s premier address to live, work and play, and we couldn’t be happier to create a new and modern home for United Bank’s growing business in Charlotte,” said Brian Leary, EVP and Chief Operating Officer of Highwoods Properties. “Thanks to a partnership with the City of Charlotte and Mecklenburg County, this new building will be joined with new community connections to ‘The Loop,’ Carnegie and Colony Roads as well as the County Library – further anchoring Morrocroft in the heart of South Park. Through these significant investments, our goal is for our customers to experience more at Morrocroft. Robin Lyle, United Bank Market President, and his team are just the type of talent we had in mind when looking through our work-placemaking lens at what Morrocroft could be for the next decade and beyond.”
United Bank is a top-performing $29.5 billion regional bank with nearly 250 locations throughout the Mid-Atlantic and Southeast, including more than 65 in the Carolinas with eight in the Charlotte metropolitan area. The groundbreaking at Morrocroft marks the beginning of construction of the project, which is due to be complete in Q2 2024.
ABOUT UNITED BANK
United Bank is a premier community bank and a subsidiary of United Bankshares, Inc. (NASDAQ: UBSI). United has consolidated assets of approximately $29.5 billion with nearly 250 offices located throughout North Carolina, South Carolina, Virginia, West Virginia, Maryland, Ohio, Pennsylvania and Georgia, as well as Washington D.C. The Bank is dedicated to growing the relationships it has built since 1839 and offering a competitive suite of banking and lending products, treasury management, wealth management, mortgage services, personal and business credit cards and more. Learn more.
ABOUT HIGHWOODS PROPERTIES
Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. Highwoods owns, develops, acquires, leases and manages properties in eight of the best business districts (BBDs) across the U.S., including Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. We are in the work-placemaking business and believe in creating environments that spark experiences where the best and brightest can achieve together what they cannot apart.