Company will vacate several Charlotte area buildings and consolidate into the new Duke Energy Plaza.
Company plans to reduce occupied space in the Charlotte area by approximately 60% to optimize its real estate footprint and reduce costs to benefit customers.
CHARLOTTE, N.C. — Duke Energy today announced that Duke Energy Plaza, the 40-floor office tower currently under construction in Uptown Charlotte, will become the company’s new corporate headquarters. Formerly known as Metro Tower, Duke Energy Plaza will house approximately 4,400 employees and allow the company to reduce its overall real estate footprint in the Charlotte area and reduce costs to benefit customers.
After a thorough review of the company’s current and future real estate needs in Uptown, the company also plans to exit the Duke Energy Center located at 550 South Tryon Street and Piedmont Town Center in South Park. Once the new tower is complete, the company plans to sell its 526 Church Street and 401 College Street facilities and exit 400 South Tryon Street. The plan will consolidate the space the company occupies in the Charlotte area over the next several years with the goal of reducing its footprint from approximately 2.5 million square feet to approximately 1 million square feet.
“We’re excited to transition our employees into the Duke Energy Plaza, where we will drive additional collaboration and innovation to deliver the affordable, reliable and increasingly clean energy our customers expect and achieve our goal of net-zero carbon emissions by 2050,” said Donna Council, Duke Energy’s senior vice president of administrative services and real estate. “We’re moving to a new workplace model that provides teammates with more flexibility and hybrid work options, reducing the need for the large real estate footprint we currently occupy. We remain firmly committed to Uptown Charlotte with an office tower that we’ll be proud to call our new home.”
Duke Energy continuously reviews all aspects of the business for opportunities to improve and this real estate plan makes the best business sense. The company expects this decision will result in $85-$90 million in savings over the next five years, which will benefit customers. The company is always focused on running the business in the most efficient way possible to benefit customers and maximize shareholder value.
“These actions will allow us to operate our business more efficiently, enhance employee productivity and better serve our customers and communities,” said Council. “It will also free up premium real estate in Uptown Charlotte for other purposes.”
Construction on the new Duke Energy Plaza continues to progress and is on schedule to be completed by the end of 2022 with interior work extending into 2023.
Approximately 1,000 craftsman and trade workers will be employed during the three-year construction period, providing a much-needed economic boost to Charlotte and the surrounding areas during the pandemic.
New workplace strategy model
The new real estate plan continues the company’s efforts to best house its approximately 6,000 employees and contractors in Charlotte to continue delivering affordable, reliable and increasingly clean energy, as well as customer-focused products and services.
The company is adopting a new workplace model where some office employees will work onsite or remotely full-time, but the majority of office employees will have a hybrid schedule where they will split time between working in the office and working remotely.
Duke Energy’s corporate headquarters will be located at the new Duke Energy Plaza beginning in 2023. Until that time, the company will transition into other existing facilities and begin to adopt the new workplace model.
Additional renderings of the Duke Energy Plaza for media use are located here.
Duke Energy Plaza facts
- Developer: Childress Klein Properties
- Building height: 40 stories
- Employees: Will house approximately 4,400 employees
- Total square footage: 1 million square feet (appx)
- Retail square footage: 25,000 square feet (appx)
- Parking: Seven-level above-ground parking with 1,100 parking spaces
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 51,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.
Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with goals of at least a 50 percent carbon reduction by 2030 and net-zero carbon emissions by 2050. The company is a top U.S. renewable energy provider, on track to operate or purchase 16,000 megawatts of renewable energy capacity by 2025. The company also is investing in major electric grid upgrades and expanded battery storage, and exploring zero-emitting power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2021 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Cautionary language concerning forward-looking statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy’s most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) and available at the SEC’s website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media contact: Neil Nissan