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william

Bank mid-rise on West End

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Friends,

As to what local bank could be mulling a mid-rise in Midtown....

In terms of deposits and assets, Pinnacle is Nashville's most significant locally owned and operated independent bank, although Citizens, Bank of Nashville and Captial Bank & Trust are players too. Capital has a branch at 19th and West End.

I would say Pinnacle is in the best position to have a 10- to 12-story headquarters building. My feeling is that if that building is the one being speculated, Pinnacle would lease signficant space within the tower. They simply wouldn't need the 200,000 square feet a 10-story building with a 20,000-foot footprint would offer.

And, yes, NBound is correct in that Wachovia is now in Nashville. But, Todd, Wachovia acquired South Trust. Did I misunderstand your post?

Overall, I'm a bit skeptical about a local bank developing its own mid-rise in Midtown. But we can hope.

WW

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Fascinating post William. Gives me some food for thought tonight. LOL!!!

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Below is my corrected post with the source being your esteemed publication :)

I think Pinnacle is the best shot locally but maybe Wachovia will go after market share in Nashville and add a Regional HQ. Anyway here are some Wachovia samples that were googled (this is not a comprohensive list just samples)

HQ in Winston-Salem

www.kendall-heaton.com/wachovia.html

Charlotte

http://www.skyscraperpicture.com/charlotte22.jpg

Greenville

http://www.frinv.com/images/wachovia_place_3_t.jpg

Tampa

http://www.tampagov.net/dept_art_in_public...CC/wachovia.jpg

Miami

http://www.ucnet.pe.kr/USA/Florida/Miami/W...20Center-01.jpg

Hotlanta

http://upload.wikimedia.org/wikipedia/en/4..._atlanta_01.jpg

another one

http://www.skyscrapercity.com/photopost/da...wo_wachovia.jpg

Wachovia is in Nashville with the purchase of SouthTrust (I was mistaken when I said First Union)

Wachovia buys SouthTrust Bank

By M.B. Owens, [email protected]

June 22, 2004

In the fifth purchase or merger of banks with local branches this year, "Wachovia Corp. is acquiring SouthTrust Corp. for $14.3 billion.

Birmingham-based SouthTrust has eight branches in Nashville, Brentwood, Cool Springs and Hermitage and holds roughly 4 percent of the market share of Middle Tennessee deposits. The No. 4 U.S. bank Wachovia, headquartered in Charlotte, N.C., currently has no branches in Tennessee, despite an earlier presence as First Union Corp."

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Great research, Nashville Bound! Personally I hope it's Pinnacle that trying to do this. I'd love to see a local bank really grow into something big in Nashville. Still, a large presence in Nashville by Wachovia with a regional operations headquartered here would be great news. If it's Wachovia, maybe they'll decide to speculate and build something even bigger than 10 or 12 stories.

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