On a conference call with analysts last week, Highwoods Properties CEO Ed Fritsch was asked what impact the pending acquisition of RBC Bank by PNC Financial Group would have on the Raleigh real estate investment trust's downtown office tower.
RBC occupies 131,000 square feet of space in its namesake tower on Fayetteville Street. The company signed a 20-year lease with Highwoods when the building opened in 2008.
The law firm Poyner Spruill, which does some work for RBC, also occupies about 75,000 square feet in the building.
Fritsch said Highwoods officials have not yet met with Jim Rohr, PNC's CEO.
But he said Poyner Spruill has indicated it doesn't expect the merger to cause it to reevaluate its space needs.
"They don't see any material impact to the way that they need and consume space," he said. "And in fact they continue to add head count to their firm."
As for PNC, Fritsch said PNC's public statements about the merger have indicated they like the presence of the RBC Tower. He also noted that PNC, which is based in Pittsburgh, does not have any existing infrastructure in the Southeast.
"There's no doubt that there's significant signage opportunities that are on display now," Fritsch said. "He [Rohr] has mentioned that that's an attraction to them."