CHARLOTTE, N.C. — First Union Corp. created a commercial real estate line of business, which will be headed by Mike Slocum, the current head of the company’s commercial real estate Florida unit.

In a press release Tuesday, First Union said Slocum replaces Dick Carling, who currently heads commercial real estate relationship management and will retire at the end of the year.

Slocum will be responsible for ongoing development, refinement and execution of coordinated strategy. Although, First Union already had a commercial real estate business, the creation of the new business line centralizes the reporting of real estate information, a company spokeswoman said.

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