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NATIONSBANK ANNOUNCES CONSTRUCTION OF $30 MILLION, 400,000-SQUARE-FOOT OFFICE BUILDING IN GREENSBORO

 GREENSBORO, N.C., MAY 5 /PRNewswire/ -- In a major commitment to the future of the Triad and Guilford County, NationsBank (NYSE: NB) announced today it will construct a 400,000-square-foot office building in Piedmont Centre.
 The new building will allow consolidation of five bank functions currently housed in separate structures in Greensboro and will make it possible for NationsBank to add 50 percent more jobs in the five units during the next three years, said John P. Abadie, president of NationsBank Dealer Financial Services.
 "NationsBank feels strongly about the economic future of the Triad," Abadie said. "We're certain we can grow with the area. This new facility in Piedmont Centre will give us the space we need to add about 640 jobs between 1993 and 1996." That is an increase from 1,300 to 1,940 in the affected units.
 Current total NationsBank employment for all its functions in Guilford and Forsyth counties is about 1,700.
 Piedmont Centre is on Highway 68 South at Interstate 40, about a mile and a half from the Piedmont Triad International Airport. Developed by Westminster Co., a Weyerhauser affiliate, the 1,000-acre park has existed since 1987. It has 27 owner/tenants using 260 acres with approximately 1.3 million square feet of space.
 The NationsBank structure will be three stories tall with about 133,000 square feet per floor. It will be situated on about 45 acres.
 The office building and the land represent a $30 million investment by NationsBank, which will own the facility.
 "We like the strategic location of Piedmont Centre. It is convenient to Greensboro, High Point and Winston-Salem and is near the airport," Abadie said.
 "We are excited about this facility and believe our employees will enjoy their new surroundings," he added.
 The new facility will be completed in August 1994. Construction is scheduled to begin this June.
 Moving into the new office building will be the NationsBank functions of Dealer Finance, Retail Loan Services, Credit Policy, Personnel and Insurance. Together, these units employ 1,300. Projections show they will grow to 1,600 employment in 1994 and to 1,940 by yearend 1996.
 Currently, the NationsBank functions to be consolidated operate in Airpark East, the Pinecroft Building, Stone's Throw Shopping Center and the Van Story office building near Four Seasons Mall. They occupy about 300,000 square feet.
 Shelco Inc., with offices in Winston-Salem and Charlotte, is the contractor and Little & Associates of Charlotte is the architect.
 NationsBank Corporation is the fifth largest banking company in the United States with more than $121 billion in assets and full-service offices in nine states and the District of Columbia.
 -0- 5/5/93
 /CONTACT: Ellison Clary of NationsBank Corporation, 704-386-8633/
 (NB)


CO: NationsBank Corporation ST: North Carolina IN: FIN SU: PDT

CM -- CH001 -- 4803 05/05/93 10:53 EDT
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Publication:PR Newswire
Date:May 5, 1993
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