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One Commerce sq. May be a 30-story edifice, that was erstwhile referred to as the NBC Building and also the SunTrust Building, and is that the fourth tallest building in Memphis, Tennessee. The building is found at the corner of Monroe Avenue and South Main Street. It is 396.0 feet (120.7 m) tall and has 475,082 sq. Feet (44,136.6 m2) of workplace house. The building has the headquarters of Pinnacle Airlines house.
It is presently owned by U.S. Bancorp, that nonheritable the building in associate Federal Deposit Insurance Corporation group action in late 2009. In August 2010, an area investment cluster junction rectifier by Terry kill, Karl Schledwitz and Gary Prosterman, won bidding method and have entered into negotiations to buy the building.
The building was inbuilt 1972 by the commercial bank of Commerce (NBC). Locally, it became referred to as the “NBC Building.” In 1984, NBC was oversubscribed the building for $46.1 million. In 1996, the building was oversubscribed out of proceeding for $21.7 million.
The building was purchased in 1999 for $31.5 million by point of entry, FL-based Southcoast Capital cluster, that operated in concert Commerce sq. LLC. However, One Commerce sq. LLC defaulted on a $24.5 million loan dated Dec twenty, 2002, through Archon money phonograph record. In 2003, The deed was then assigned to Regency Savings Bank, that incorporate with Park commercial bank.
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