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Sterick Building Redevelopment


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52 minutes ago, DowntownUrbanite said:

The Sterick should become predominantly a luxury hotel mixed with several floors of luxury residences near the top, the relocation of the Visible Music School on several levels above the ground floor, and hotel lobby, restaurants, lobby bars, and gift shops on the ground level. The current Visible Music School would be demolished, and along with the surface parking lots and Avis Rental Center, be transformed into an 8-10 level parking garage, with an apartment liner building overlooking Autozone Park, a new performing arts center and theater to be shared by the visible Music School and hotel, and a new vehicle rental center to serve Downtown.

That would be great.  The old bank building that Visible Music School is in I believe is protected.  I don't think it can be torn down, and I hope it isn't.  I believe it is architecturally significant.  As a former downtown worker, I have noticed there is a shortage of pharmacies downtown, with Walgreens being the only one that is close by.  Therefore, I would like to see the Sterick pharmacy revived.  Parking should not be a significant issue, there are several spots available in the revived hotel next door and there is another garage at 44 N. Second.

As far as residences, I would like to see multi-floor suites ala New York City on the upper floors, and smaller suites on the east-west facing lower floors.  I am not an expert, but I believe HVAC would be easier to pull off on fewer, but bigger residences.

Also, got to mention, I hope the powers that be repaint the building white, with the green top, and remove the drywall to reveal the old marble.

 I hope someone thinks to consult some of the principals that put together Crosstown Concourse to give input on the rehab of the Sterick Building.   I think the Sterick will have one large advantage over the Crosstown Concourse in that AXA will have some financial responsibility since they have failed to keep the Sterick in decent condition.

On 1/6/2023 at 1:11 AM, BnaBreaker said:

go away.

I think one major advantage the Sterick building has over other projects is that the current management company has not maintained the building as stipulated in the original contract.   Therefore, I think AXA will have to write a very large check in 2025.   I would love to hear some input from a real estate attorney on this matter.

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18 hours ago, Tony Randolph said:

That would be great.  The old bank building that Visible Music School is in I believe is protected.  I don't think it can be torn down, and I hope it isn't.  I believe it is architecturally significant.  As a former downtown worker, I have noticed there is a shortage of pharmacies downtown, with Walgreens being the only one that is close by.  Therefore, I would like to see the Sterick pharmacy revived.  Parking should not be a significant issue, there are several spots available in the revived hotel next door and there is another garage at 44 N. Second.

As far as residences, I would like to see multi-floor suites ala New York City on the upper floors, and smaller suites on the east-west facing lower floors.  I am not an expert, but I believe HVAC would be easier to pull off on fewer, but bigger residences.

Also, got to mention, I hope the powers that be repaint the building white, with the green top, and remove the drywall to reveal the old marble.

 I hope someone thinks to consult some of the principals that put together Crosstown Concourse to give input on the rehab of the Sterick Building.   I think the Sterick will have one large advantage over the Crosstown Concourse in that AXA will have some financial responsibility since they have failed to keep the Sterick in decent condition.

I think one major advantage the Sterick building has over other projects is that the current management company has not maintained the building as stipulated in the original contract.   Therefore, I think AXA will have to write a very large check in 2025.   I would love to hear some input from a real estate attorney on this matter.

There's no legal protections from tearing it down, but you are correct, it is architecturally significant:

The project sought to repurpose one of Memphis' most celebrated mid-century modern buildings into an urban music college. The abandoned bank in the heart of downtown was facing demolition when a young music college seeking a new home decided to save it. The college wanted a fresh and exciting character, while creating more functional spaces for that of a college environment. Fortunately, there was a desire to preserve the bones of the existing building by making minimal insertions into the concrete structure, allowing us to focus on interior renovations, as well as new mechanical, plumbing and electrical systems.

The iconic building was designed by Gassner, Nathan and Browne, Architects, and built in 1972 for Commercial and Industrial Bank. Its sloping glass-paneled front creates an airy atrium and is immediately recognizable from blocks away. In 1979, it was included in the Museum of Modern Art's exhibit of the 400 buildings which "have had a significant influence in the recent directions of architecture."

I doubt the Visible Music college spent the time and effort raising funds to save, and rennovate the building, then building a 4-level student housing building behind it, just to have it torn down.  I also doubt that the Sterick building would even be practical for their needs and uses for a space.  I've read that the floor heights at the Sterick are less than desirable, not even reaching 9 feet.  There would also be quite a pushback from lots of places for anyone that wanted to tear it down.  The best use for the Sterick would be residential or residential/hotel with retail on ground floor.  It's got potential for really nice balcony spaces on certain floors.  

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On 1/8/2023 at 3:50 PM, smeagolsfree said:

Crime or bad neighborhoods did not hold Nashville back and Memphis can overcome those challenges as well. Points in case. Downtown Nashville in the 80s was adult bookstores and no one would come there. It was dead as a doornail to quote Dickens. 

Also, in the early 2000's Germantown and the 12 S neighborhoods were crime ridden with drive by shootings. I remember a 10-year-old, or he may have been 8 go shot and killed at the market on the corner of Garfield & 7th around 2004. Now you can't touch a house there for under a million. Don't give me any race issues either because African American Communities hate this crap as much as anyone else and will be standing at the front of the line in order to clean the neighborhood up and better it. Thise communities are far better organized and sometimes just need the mayor's office and funding from the city to get the ball rolling.  Nashville and I will bet Memphis tends to neglect the poorer neighborhoods.

The problem we have here is opportunistic and predator developers taking advantage of the minority and poor communities to bilk folks out of their homes. Be on top of this and nip it in the bud ahead of time.

I am somewhat familiar with the Sterick building and if it is in a less than desirable neighborhood, then whatever developer gets the project the folks in the neighborhood can always insist on a CBA community benefits agreement. I am not a big fan of these but if used correctly they can help an area out a lot.

Appreciate the different viewpoint here. The communities surrounding downtown are mostly African American, and some residents in the Uptown/Greenlaw neighborhood (mostly African American) came against a St. Jude parking garage that was to be built: Some residents concerned with new St. Jude parking garage (actionnews5.com). So the point is, the NIMBYs here aren't taking any mess, especially against gentrification. The poorer neighborhoods are being neglected, but the most infamous neighborhood of them all was Cleaborn homes, a housing project, (Demolition of Cleaborn Homes creates excitement about future plans (actionnews5.com) torn down some years back and made into the federal Hope homes. Now whether or not this was a positive depends on the person you're talking to. The average annual income was one of the poorest in the city. The bilking you're talking about is probably happening here. No doubt in the next 10-20 years, these areas will look completely different.

The area of the Sterick building is in the core of downtown - in a desirable location, because it offers views of all the "big four" skyscrapers on the upper floors. The buildings next to Sterick aren't vacant, which was by design, to put pressure on the owners of Sterick. There is a dowtown residential association and a group called Memphis Heritage Inc. that looks to preserve historic architecture, but I don't know if they've put pressure on AXA or the Grosvenors.

Edited by The Guardian of Memphis
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14 hours ago, The Guardian of Memphis said:

Appreciate the different viewpoint here. The communities surrounding downtown are mostly African American, and some residents in the Uptown/Greenlaw neighborhood (mostly African American) came against a St. Jude parking garage that was to be built: Some residents concerned with new St. Jude parking garage (actionnews5.com). So the point is, the NIMBYs here aren't taking any mess, especially against gentrification. The poorer neighborhoods are being neglected, but the most infamous neighborhood of them all was Cleaborn homes, a housing project, (Demolition of Cleaborn Homes creates excitement about future plans (actionnews5.com) torn down some years back and made into the federal Hope homes. Now whether or not this was a positive depends on the person you're talking to. The average annual income was one of the poorest in the city. The bilking you're talking about is probably happening here. No doubt in the next 10-20 years, these areas will look completely different.

The area of the Sterick building is in the core of downtown - in a desirable location, because it offers views of all the "big four" skyscrapers on the upper floors. The buildings next to Sterick aren't vacant, which was by design, to put pressure on the owners of Sterick. There is a dowtown residential association and a group called Memphis Heritage Inc. that looks to preserve historic architecture, but I don't know if they've put pressure on AXA or the Grosvenors.

I don't think gentrification was the issue for the St Jude garage, they complained about the height/traffic/noise/exhaust.  It was going to be right on AW Willis (an arterial road), and be directly across the street from St Jude campus.  There's no houses next to it either.  The opposition countered that St Jude should build a garage at the newly acquired property where the Memphis fleet services sits across Danny Thomas.  However, I think a better place for a parking lot is the surface parking lot on 3rd, right across from the St Jude Garden, unless they have this spot earmarked for another project.  

Edited by MDC26
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4 hours ago, MDC26 said:

I don't think gentrification was the issue for the St Jude garage, they complained about the height/traffic/noise/exhaust.  It was going to be right on AW Willis (an arterial road), and be directly across the street from St Jude campus.  There's no houses next to it either.  The opposition countered that St Jude should build a garage at the newly acquired property where the Memphis fleet services sits across Danny Thomas.  However, I think a better place for a parking lot is the surface parking lot on 3rd, right across from the St Jude Garden, unless they have this spot earmarked for another project.  

The gentrification was a separate issue from the garage. My point was to compare  the African American neighborhood in Nashville that Smeagol mentioned to the Uptown neighborhood residents who spoke out or stood up to confront an issue. Seeing that there was pushback, means also they’d probably be against gentrification too. 

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1 hour ago, The Guardian of Memphis said:

The gentrification was a separate issue from the garage. My point was to compare  the African American neighborhood in Nashville that Smeagol mentioned to the Uptown neighborhood residents who spoke out or stood up to confront an issue. Seeing that there was pushback, means also they’d probably be against gentrification too. 

Gotcha.  It is obvious that the residents of Uptown take pride in their neighborhood and care about what's going on.  Things are going well in Uptown with projects like the Snuff District, two separate breweries, Malone commons and other infill projects.  Couple that with St Jude Campus and if the Pinch plans ever come to fruition, it will be quite vibrant.  

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2 hours ago, MDC26 said:

Gotcha.  It is obvious that the residents of Uptown take pride in their neighborhood and care about what's going on.  Things are going well in Uptown with projects like the Snuff District, two separate breweries, Malone commons and other infill projects.  Couple that with St Jude Campus and if the Pinch plans ever come to fruition, it will be quite vibrant.  

Yes indeed. No matter how long the wait, it will be worth it. The taller the better though. LOL.

Uptown/Uptown West master plan: 15730.pdf (memphisdailynews.com)

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On 1/8/2023 at 2:54 PM, DowntownUrbanite said:

The Sterick should become predominantly a luxury hotel mixed with several floors of luxury residences near the top, the relocation of the Visible Music School on several levels above the ground floor, and hotel lobby, restaurants, lobby bars, and gift shops on the ground level. The current Visible Music School would be demolished, and along with the surface parking lots and Avis Rental Center, be transformed into an 8-10 level parking garage, with an apartment liner building overlooking Autozone Park, a new performing arts center and theater to be shared by the visible Music School and hotel, and a new vehicle rental center to serve Downtown.

I agree with this, but I think the Visible Music College building should be incorporated into the design  and redevelopment  of the Sterick. They would definitely need to close the alley between the two buildings. 

I was recently in Oklahoma City and I had dinner at the National Hotel. It's a former bank that has been transformed into a very nice hotel. This is the design style I think would be great for the Sterick.

https://www.thenationalokc.com/

I have an idea for the area between the VMC and the Commonwealth building, and Avis can be included included in the development. It would generate local and tourist foot traffic with retail, residential, and entertainment. I think the school should be relocated over to Jefferson, and that Court property would be a great location for Mayor Strickland's proposed soccer stadium and the redevelopment of the bank building and property across from it. 

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12 hours ago, JTM1 said:

I agree with this, but I think the Visible Music College building should be incorporated into the design  and redevelopment  of the Sterick. They would definitely need to close the alley between the two buildings. 

I was recently in Oklahoma City and I had dinner at the National Hotel. It's a former bank that has been transformed into a very nice hotel. This is the design style I think would be great for the Sterick.

https://www.thenationalokc.com/

I have an idea for the area between the VMC and the Commonwealth building, and Avis can be included included in the development. It would generate local and tourist foot traffic with retail, residential, and entertainment. I think the school should be relocated over to Jefferson, and that Court property would be a great location for Mayor Strickland's proposed soccer stadium and the redevelopment of the bank building and property across from it. 

What's your idea for the area between VMC and Commonwealth, and where do you think the soccer stadium should go?  

Speaking of a bank into a hotel, the guy that did the Arrive Hotel, had plans to turn the former bank building at 158 Madison (Leader Federal Bank) and the adjacent building into a hotel, but that hasn't materialized.  The partner of the developer was arrested for public corruption in Palm Springs, so that may have put a damper on things.  

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On 1/13/2023 at 8:11 AM, MDC26 said:

What's your idea for the area between VMC and Commonwealth, and where do you think the soccer stadium should go?  

Speaking of a bank into a hotel, the guy that did the Arrive Hotel, had plans to turn the former bank building at 158 Madison (Leader Federal Bank) and the adjacent building into a hotel, but that hasn't materialized.  The partner of the developer was arrested for public corruption in Palm Springs, so that may have put a damper on things.  

The possibility of new high rises in the core because of space is at a premium. I always thought Madison Avenue could be home to a couple of high rises, like at the location you mentioned (158 Madison) and on BB King in front of Sterick. There is an impressive line up of historic high rises on Madison (Cotton Exchange, Goodwyn Institute, Hu Hotel). The former Leader Federal Bank could be torn down without hopefully upsetting any Memphis Heritage folks. The proposed high rise would be shorter than the Cotton Exchange or more along the height of the 44 N. Second building so it won't block any views. I think there's a need for more postmodern architecture downtown to balance the historic structures that are already there.

Edited by The Guardian of Memphis
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On 1/13/2023 at 8:11 AM, MDC26 said:

What's your idea for the area between VMC and Commonwealth, and where do you think the soccer stadium should go?  

Speaking of a bank into a hotel, the guy that did the Arrive Hotel, had plans to turn the former bank building at 158 Madison (Leader Federal Bank) and the adjacent building into a hotel, but that hasn't materialized.  The partner of the developer was arrested for public corruption in Palm Springs, so that may have put a damper on things.  

I was thinking along the lines of a mix use that housed a food hall, Avis, and an all sports, sports club. There's a parking garage on Court that would alleviate any parking issues, but they would need to add floors to it. It's close enough, they could connect it with any new construction. Avis could also keep its vehicles on a segregated floor of the garage. Put the soccer stadium, just west of the Commonwealth building. I am referring to the property and old First Tennessee bank building on Court Ave.

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13 hours ago, The Guardian of Memphis said:

The possibility of new high rises in the core because of space is at a premium. I always thought Madison Avenue could be home to a couple of high rises, like at the location you mentioned (158 Madison) and on BB King in front of Sterick. There is an impressive line up of historic high rises on Madison (Cotton Exchange, Goodwyn Institute, Hu Hotel). The former Leader Federal Bank could be torn down without hopefully upsetting any Memphis Heritage folks. The proposed high rise would be shorter than the Cotton Exchange or more along the height of the 44 N. Second building so it won't block any views. I think there's a need for more postmodern architecture downtown to balance the historic structures that are already there.

I don’t think there’s any need to tear down any buildings, especially ones with historical or architectural significance. The only building I wouldn’t mind to see get torn down is 138 Madison because it’s so hideous. There’s enough surface lots/empty lots and some dilapidated small parking garages to build enough high rises to our hearts’ content. 

6 hours ago, JTM1 said:

I was thinking along the lines of a mix use that housed a food hall, Avis, and an all sports, sports club. There's a parking garage on Court that would alleviate any parking issues, but they would need to add floors to it. It's close enough, they could connect it with any new construction. Avis could also keep its vehicles on a segregated floor of the garage. Put the soccer stadium, just west of the Commonwealth building. I am referring to the property and old First Tennessee bank building on Court Ave.

I don’t think there’s enough room there for a soccer stadium, but I think something like Ballpark Village in St Louis would be great. A nice residential high rise like 1 Cardinal Way that overlooks Autozone stadium right where the Avis lot is. 

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14 hours ago, MDC26 said:

I don’t think there’s any need to tear down any buildings, especially ones with historical or architectural significance. The only building I wouldn’t mind to see get torn down is 138 Madison because it’s so hideous. There’s enough surface lots/empty lots and some dilapidated small parking garages to build enough high rises to our hearts’ content. 

I don’t think there’s enough room there for a soccer stadium, but I think something like Ballpark Village in St Louis would be great. A nice residential high rise like 1 Cardinal Way that overlooks Autozone stadium right where the Avis lot is. 

158 and 166 Madison aren't too great either. These properties should be made into mid-rises to put further pressure on the Sterick to be developed and to increase density. You're probably right about the empty lots and small parking garages. Most of them are on Second and Third, but my point is that the not so good buildings (e.g., 7 N. BB King, and there's a parking lot next to it too) need to go, but only if they're unsightly, contributing to blight or in a great location to increase density.  158, 166 Madison & 7 BB King are near Sterick and First Tennessee.

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22 hours ago, JTM1 said:

I was thinking along the lines of a mix use that housed a food hall, Avis, and an all sports, sports club. There's a parking garage on Court that would alleviate any parking issues, but they would need to add floors to it. It's close enough, they could connect it with any new construction. Avis could also keep its vehicles on a segregated floor of the garage. Put the soccer stadium, just west of the Commonwealth building. I am referring to the property and old First Tennessee bank building on Court Ave.

There may not be enough space at that location, but all the structures on that block (275 Jefferson, Masonic Temple, 300 Court) will have to be torn down, so it may work. That part of downtown, especially near 201 Poplar and Uptown Square needs IMMEDIATE attention. 

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I applaud the principals that put together the VMC.   Basically, they took a building that was not being used and created a music college.  Also, the student residences are tasteful.  Maybe that is why the Hickman and Pressbox buildings appear to be successful.   VMC should be left alone regardless on how the Sterick Building drama unfolds.

Sterick LLC is located somewhere in the 44 N. Second building.  I have tried to find someone from the Grosvenor family to answer some questions about what they are planning for the Sterick, but have not been successful to date.   I am hoping that one of our major media outlets will start covering the Sterick.  I would like to hear from Billy Orgel, who is currently working on the Tennessee Brewery and get his insight since he is also one of the principals on the 100 N. Main rehab.  Like the rest of you all, I am waiting for something to be done yesterday, or more accurately, 40 years ago.

I see the only real option for the building as a rehab.  Let us hope for a large settlement from AXA, tax credits and private investment.  Even if the building could be imploded, it would be cost prohibitive, and who would pay for an implosion?

On 1/14/2023 at 10:50 PM, MDC26 said:

I don’t think there’s any need to tear down any buildings, especially ones with historical or architectural significance. The only building I wouldn’t mind to see get torn down is 138 Madison because it’s so hideous. There’s enough surface lots/empty lots and some dilapidated small parking garages to build enough high rises to our hearts’ content. 

I don’t think there’s enough room there for a soccer stadium, but I think something like Ballpark Village in St Louis would be great. A nice residential high rise like 1 Cardinal Way that overlooks Autozone stadium right where the Avis lot is. 

Hang on, I thought Red Birds field is also the soccer stadium.  I am not up on stadiums or the sports business, but a soccer stadium IMO would be another tax drag on this city.

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1 hour ago, Tony Randolph said:

I applaud the principals that put together the VMC.   Basically, they took a building that was not being used and created a music college.  Also, the student residences are tasteful.  Maybe that is why the Hickman and Pressbox buildings appear to be successful.   VMC should be left alone regardless on how the Sterick Building drama unfolds.

Sterick LLC is located somewhere in the 44 N. Second building.  I have tried to find someone from the Grosvenor family to answer some questions about what they are planning for the Sterick, but have not been successful to date.   I am hoping that one of our major media outlets will start covering the Sterick.  I would like to hear from Billy Orgel, who is currently working on the Tennessee Brewery and get his insight since he is also one of the principals on the 100 N. Main rehab.  Like the rest of you all, I am waiting for something to be done yesterday, or more accurately, 40 years ago.

I see the only real option for the building as a rehab.  Let us hope for a large settlement from AXA, tax credits and private investment.  Even if the building could be imploded, it would be cost prohibitive, and who would pay for an implosion?

Hang on, I thought Red Birds field is also the soccer stadium.  I am not up on stadiums or the sports business, but a soccer stadium IMO would be another tax drag on this city.

The mayor and 901 fc owners have proposed tearing down Mid south coliseum and building new soccer stadium in its place. It’s talked about with pics etc in the sports forum on this page 

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In order to get the Sterick redeveloped, we should be open to all non-historically significant buildings and surface parking lots being on the table (as long as existing stakeholders can be incorporated into the plans). The post modern building is about as engaging to the pedestrian as the main post office on South Third/BB King. We need active storefronts with use that spills onto the street. With the right design, there is no reason why the school could not be relocated to floors 2 through 5 of the Sterick Building.

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1 hour ago, DowntownUrbanite said:

In order to get the Sterick redeveloped, we should be open to all non-historically significant buildings and surface parking lots being on the table (as long as existing stakeholders can be incorporated into the plans). The post modern building is about as engaging to the pedestrian as the main post office on South Third/BB King. We need active storefronts with use that spills onto the street. With the right design, there is no reason why the school could not be relocated to floors 2 through 5 of the Sterick Building.

Tearing down the VSM isn’t going to make the Sterick redevelopment any more feasible, it will just add to the cost. Not everything is going to have activity spilling out onto the streets, but the VSM is better than that post office, as it has windows that looks into its atrium. 

The Sterick is going to need a 30-year PILOT, that will need to be approved by the state, every historic tax credit available, and Downtown Memphis Commission Developmemt Loan/Exterior Improvement Grant/Exterior sidewalk Grant and whatever else it can get. 

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After seeing where the Sterick Building is, I was wondering what the downtown residential situation is in Memphis. It seems as if this building is prime to be rehabbed as a residential and or a hotel building. My guess is that it could be picked up for a song and a dance. 

If it goes on the National register of historic Places, there are certain grants I think that the building would be eligible for.

From WIKI

"Further complications toward redevelopment include legal entanglements regarding the ground lease. The Sterick Building is a land lease property wherein the original builders leased the land the building stands on for 99 years without buying the land outright. The land and the building are currently owned separately.[8] The land is owned by The Sterick LLC and the building's lease is held by AXA Equitable Life Insurance Company."

The lease would be up in 2027 it seems from what the above says.

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1 hour ago, smeagolsfree said:

After seeing where the Sterick Building is, I was wondering what the downtown residential situation is in Memphis. It seems as if this building is prime to be rehabbed as a residential and or a hotel building. My guess is that it could be picked up for a song and a dance. 

If it goes on the National register of historic Places, there are certain grants I think that the building would be eligible for.

From WIKI

"Further complications toward redevelopment include legal entanglements regarding the ground lease. The Sterick Building is a land lease property wherein the original builders leased the land the building stands on for 99 years without buying the land outright. The land and the building are currently owned separately.[8] The land is owned by The Sterick LLC and the building's lease is held by AXA Equitable Life Insurance Company."

The lease would be up in 2027 it seems from what the above says.

The lease actually ends April 30, 2025.  Online, you can find some references, stating that the lease ends in 2027, but that is based on the faulty premise of when construction started (in 1928), not when the actual lease was signed.

Niles Grosvenor leased his single-family house and the land around it where the Sterick now stands on May 1, 1926, for 99 years. The deal was to keep the property in good working order, save normal wear and tear, and turn the keys back over to the Grosvenor family at the end of term. The 99-year-lease ends in 2025 for current owner New York-based AXA Equitable Life Insurance Co.

https://www.memphisdailynews.com/news/2013/feb/2/filling-the-voids/

 

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I figure everyone knows the story with the Sterick and 100 N Main.  I believe these are the next two biggest empty buildings.  Nice buildings, but not a high demand for office.  Jefferson Plaza would probably need much more work on the inside.  

Jefferson Plaza - 147 Jefferson

Previously held offices for various companies and govt. agencies.  It got bought 2-3 years ago by a firm from Houston.  There have been no announcements.  

https://www.loopnet.com/Listing/147-Jefferson-Ave-Memphis-TN/14295681/

147 Jefferson Ave, Memphis, TN for sale - Primary Photo - Image 1 of 1

Thomas Building - 300 Court Ave

Previously held offices for First Horizon.  Someone from California bought it several years ago, and announced plans to turn it into residential.  Nothing materialized and it's back on the market.  

https://www.loopnet.com/Listing/300-Court-Ave-Memphis-TN/25102667/

300 Court Ave, Memphis, TN for sale - main images-0095 - Image 1 of 20

 

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Thank You! Interesting, that there ae a number of good-sized building available and unfortunate as well. I think all it will take is one domino to fall and the rest will come behind. Seems as if no one wants to take a chance.

You guys need someone like a Tony Giarratana there to do rehab/conversion on one of these buildings.

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2 hours ago, smeagolsfree said:

Thank You! Interesting, that there ae a number of good-sized building available and unfortunate as well. I think all it will take is one domino to fall and the rest will come behind. Seems as if no one wants to take a chance.

You guys need someone like a Tony Giarratana there to do rehab/conversion on one of these buildings.

The Orgels are the closest thing we have: https://www.bizjournals.com/memphis/news/2019/03/01/benjamin-orgel-memphis-isnt-on-the-cusp-of.html

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