Israeli group to buy One Wells Fargo in $245 million deal

Israeli group to buy One Wells Fargo in $245 million deal

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by ANDREW DUNN / The Charlotte Observer

WCNC.com

Posted on June 14, 2012 at 6:04 PM

Updated Thursday, Oct 24 at 6:57 PM

An Israeli group announced Thursday that it will buy the One Wells Fargo building in uptown Charlotte in a $245 million deal.

Wells Fargo & Co., which occupies about 70 percent of the 985,000-square-foot building, will lease its space through at least 2021, according to the announcement from Tel Aviv-based Azrieli Group Ltd.

It’s the third major uptown bank building sale in recent months. Bank of America Corp. sold the Hearst Tower and the Fifth Third Center in separate deals earlier this year.

Azrieli expects to make about $18.5 million per year from the One Wells Fargo purchase. The deal could close within 45 days.

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