Verne Hill
Breaking News: HanesBrands, Carolina U. moving?
HanesBrands moving headquarters to downtown Winston-Salem. Carolina University to move to Hanesbrands site at Oak Summit campus.
HanesBrands Inc. is moving its global headquarters to downtown Winston-Salem’s Park Building, while Carolina University (formerly Piedmont Baptist College) is taking over the manufacturer’s Oak Summit campus. The major real-estate shift also involves Truist Financial and Salem Baptist Church and Salem Christian School.
(Winston-Salem Journal) HanesBrands Inc. is moving its global headquarters to downtown Winston-Salem’s Park Building, while Carolina University is taking over the manufacturer’s Oak Summit campus in a major real-estate shift also involving Truist Financial Corp. and Salem Baptist Church and Christian School. HanesBrands and Carolina University issued separate news releases Monday about the planned transactions.
Neither disclosed the financial terms of their real-estate transactions. At its core, HanesBrands and Truist are downsizing their space in Winston-Salem, while the church and college are expanding in infrastructure and potential student enrollment. Still, HanesBrands would become one of downtown’s largest employers. The manufacturer said it has signed an agreement to sell the property “to a third party that will begin to occupy part of the Oak Summit location later this year.”
Carolina said the HanesBrands campus will provide it with nearly 500,000 square feet in two buildings that are “ideal for retrofitting into classrooms, libraries, and faculty and staff offices. The new campus aligns perfectly with CU’s growth and future goals.” HanesBrands projects moving into the Park Building by early 2025, and the university to the 117-acre campus at 1000 E. Hanes Mall Road by the end of 2024.
Carolina said it will hold its fall 2024 classes on the current campus before starting classes on the Oak Summit campus in January. The manufacturer has occupied the Oak Summit campus since 1993, including when it was a division of Sara Lee Corp. before its spinoff in September 2006. Salem Baptist Church and Christian School has agreed to purchase the Carolina campus for its school, which has more than 450 students. Carolina will lease back the residence halls and gymnasium building for the fall semester while residence halls and athletic facilities are being planned and constructed on the Oak Summit campus. Salem Baptist deferred comment to Rick Clinard, its head of schools, who was not available for comment Monday. Meanwhile, Truist said Monday it plans to move employees from the Park Building to other offices in Winston-Salem and the Triad. “We will continue to have a presence in The Park Building and remain committed to serving our clients and the local community,” Truist said. “No one will lose their job with this relocation.”
The Park Building has been Truist’s major office site since the bank left the BB&T Financial Center in spring 2020 after completing its $33.4 billion purchase of SunTrust Banks Inc. and moving their combined headquarters to Charlotte.
At that time, Truist moved its offices from the tower in favor of lower-profile sites it owned in Winston-Salem, including the downtown Park Building, as part of an initiative to reduce its companywide office space by 4.8 million square feet.
HanesBrands impact The decision comes little more HanesBrands announced plans June 5 to sell its iconic global Champion brand for between $1.2 billion and $1.5 billion to Authentic Brands Group. However, HanesBrands said the downsizing move “didn’t stem” from the planned Champion sale. HanesBrands said the Park Building and downtown “fits the company’s strategy as it focuses on strengthening its operating model, simplifying the business and streamlining operations.” “We are confident that moving our headquarters to the newly renovated, modernized space will provide HanesBrands associates with an energetic environment that promotes collaboration and innovation, while driving its strategic growth initiatives forward.” HanesBrands chief executive Steve Bratspies said that “we are excited to have a continued presence in the city where HanesBrands began more than 120 years ago.” ““We are confident the downtown area will offer opportunities for connectivity among associates,” Bratspies said. Bratspies cited the support of local civic and elected officials “as we begin to write a new chapter in our rich heritage, as well as our associates who are dedicated to our community and the success of our iconic brands.” Winston-Salem Mayor Allen Joines said HanesBrands’ decision to move into the Park Building shows its commitment to Winston-Salem and “I am excited to see the continued impact HanesBrands will have on our city.” HanesBrands did not disclose how many employees will be working at the Park Building. The manufacturer has not provided an update on its Forsyth County workforce for several years, but is estimated to be in the 2,000 to 2,200 range.
HanesBrands said it can’t provide “a total number of associates moving downtown because we’re still working through the layout of the space.” HanesBrands reported having 48,000 employees in 29 countries as of Dec. 31, of which 88% are located outside the United States, mostly in supply chain facilities in Central America, the Caribbean Basin and Asia. The planned sale of Champion to Authentic could come with significant production and operations job cuts in the U.S. since Authentic prefers to outsource manufacturing and most operational production, while most of HanesBrands’ production and operations are handled internally. Carolina University expansion Carolina University is calling its planned purchase of the Oak Summit campus “a major milestone in its journey of growth and expansion” spurred by its “affordable bachelor’s, master’s and PhD degrees leading to well-paying jobs in high-demand fields.” The university said Salem Baptist Church and Christian School has agreed to purchase the current CU campus to accommodate the strong growth of Salem Baptist Christian School (SBCS). The university said as a result of an uptick in undergraduate enrollment and subsequent student housing, it has outgrown its current campus facilities. By last fall, it already had requested that all graduate students living in residence halls seek off-campus housing. “The substantial increase in applications for the fall 2024 semester “highlighted the urgent need for a more expansive campus.” “With limited room to build or expand parking due to being landlocked on the current campus, CU concluded that relocation was the only feasible solution.”
Carolina’s ability to afford its new campus comes in part from receiving its largest gift in April, as well as selling the former Southeastern Bible College campus in Birmingham, Ala. Carolina cited the Oak Summit campus will provide employees and students with proximity to shopping, dining, and entertainment venues — “a tremendous asset for its entire community.” “This is especially beneficial for international students who often do not have access to cars while studying in the states.”
