News Summary
Trimont, a leading commercial mortgage servicer, has signed a significant office lease at One South Tower in Uptown Charlotte. The new 67,935 square foot space will accommodate around 300 employees and marks the largest lease for the Class A building, raising occupancy over 75%. This expansion follows Trimont’s acquisition of a servicing department from Wells Fargo and comes as the company adapts to shifts in the commercial mortgage servicing market. Enhanced amenities at One South Tower aim to attract more tenants amid a competitive landscape.
Charlotte has become the latest beneficiary of a significant corporate expansion as Trimont, a leading commercial mortgage servicer, announced the signing of a substantial office lease at One South Tower. The agreement grants Trimont access to 67,935 square feet of office space within the 40-story building, which is situated in the heart of Uptown Charlotte. This move, which is scheduled for completion by January 2026, is expected to accommodate around 300 employees.
This lease marks a notable achievement for One South Tower, as it is the largest signed to date for the Class A office building, raising its overall occupancy rate to over 75%. The tower is owned by Tourmaline Capital Partners, which recently invested more than $13 million into renovations aimed at enhancing the building’s appeal to current and prospective tenants.
Renovations and Amenities
The renovations at One South included the addition of sophisticated amenities designed to attract tenants. A significant highlight is the introduction of a third-floor amenity space named “Three.” This 22,000-square-foot area features a café and a connection lab equipped with a 110-inch LED screen, along with recreational facilities including gaming and golf simulators and an indoor/outdoor terrace. Of the renovation budget, approximately $7 million was allocated for this amenity space.
Furthermore, an investment of $2 million was made to create One Athletics, a substantial 30,000-square-foot fitness facility providing amenities such as an indoor pickleball court and a basketball court. These enhancements have been pivotal in stabilizing the office vacancy rate in Charlotte, which currently stands at 22.4%, above the national average of 19.7% as of the first quarter of 2025.
Expansion Strategy
Trimont’s expansion into One South follows its recent acquisition of the non-agency third-party commercial mortgage servicing department from Wells Fargo. This strategic acquisition has significantly bolstered Trimont’s portfolio, allowing the company to manage over $700 billion in commercial real estate loans throughout the United States. This move has enabled Trimont to capture 11% of the lending market and to add more than 19,000 loans secured by approximately 21,500 properties.
The decision to relocate to One South aligns with Trimont’s previously stated objective of moving Wells Fargo employees to an uptown location, reinforcing their commitment to centralizing operations and enhancing employee satisfaction.
Recent Tenant Overview
Other notable tenants recently attracted to One South include Dole Food Company, Deriva Energy, and Robert Half, demonstrating the tower’s increasing draw for various corporations.
In the lease transaction, Trimont was represented by John Flack and Taylor Ferguson from Savills, while the landlord was represented by John Hannon, Tim Arnold, and Rhea Greene from Trinity Partners.
Market Context
Trimont’s growth comes at a time when the market is experiencing shifts as banks begin offloading servicing operations to non-bank entities. This trend positions companies like Trimont favorably within the commercial loan servicing sector, particularly as firms adapt to the evolving landscape.
The financial backing for Trimont’s strategic acquisition from Wells Fargo has been supported by Värde Partners, an investment financial firm. This partnership is expected to strengthen Trimont’s presence in the industry and facilitate further expansion and service improvements.
With the infusion of modern amenities and strategic leasing agreements, One South Tower stands out as a competitive location in the Charlotte office market, playing an important role in addressing the area’s higher-than-average vacancy rates while fostering an environment conducive to business growth.
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Additional Resources
- Rebusiness Online: Trimont Signs 67,935 SF Lease at One South Office Tower
- Charlotte Observer: Corporate Expansion in Charlotte
- Wells Fargo Newsroom: Agreement with Trimont
- Wikipedia: Commercial Mortgage Servicing
- CNN: Wells Fargo Sells Off Commercial Mortgages
- Google Search: Commercial Mortgage Servicing
