Chicago firms pay $36.5M for former Wells Fargo tower, plan mixed-use redevelopment
301 South Tryon - Rendering
By Elise Franco | April 23, 2026
A portion of Wells Fargo & Co.'s former uptown office complex is under new ownership.
Chicago firms Riverside Investment & Development and Singerman Real Estate closed today on the acquisition of the former Two Wells Fargo Center at 301 S. Tryon St., according to a news release from the firms. The joint venture paid $36.5 million, according to Mecklenburg County property records.
The property carries a tax value of about $204 million, according to county records.
CBRE's Patrick Gildea and Matt Smith represented the seller in the transaction. CBRE began marketing the site for sale in June 2023.
The property, now called 301 South Tryon, sits on 3.4 acres bounded by South Tryon, South College and East Third streets and East Martin Luther King Boulevard. It includes more than 800,000 square feet of office space across two adjoined buildings — a 30-story tower and an 11-story tower. It also has more than 30,000 square feet of retail space, a plaza fronting the larger tower, a building atrium and a 540-space parking structure.
Through the joint venture, Riverside and Singerman plan to redevelop the site with a mix of uses that could include commercial, retail, residential and hospitality. The plan also entails a full reimagining of the public spaces to activate the block. The firms will begin working on entitlements and construction financing next year. Redevelopment efforts are expected to start in 2027, a Riverside representative told the Charlotte Business Journal.
Tony Scacco, president of Riverside, said in a statement that the firm has been pursing the site for several years. Scacco said Riverside and Singerman view 301 South Tryon as an opportunity to help close the growing gap in Class A office supply in Charlotte.
"Our goal is to deliver trophy-quality residential, hospitality, retail and commercial space to the redeveloped property at a price point that allows us to be competitively positioned within the broader market," he said. "All of these asset (types) are undersupplied in the Class A category, particularly in the most high-demand locations."
Riverside broke into the Charlotte market in late 2021 with the $35 million acquisition of the 2.75-acre site that was formerly home to Midnight Diner and Uptown Cabaret at West Morehead and South Tryon streets. The first phase of Queensbridge Collective, a 42-story luxury high-rise multifamily tower called Vivian, delivered there earlier this year.
Phase two broke ground in late 2025, after Charlotte's largest law firm Moore & Van Allen announced that it would anchor the building with a 206,000-square-foot office lease. The second building will be a 43-story tower with 400,000 square feet of office space across the top 19 floors and 304 multifamily units at the bottom half of the tower. It is expected to deliver in 2028.