chris holman

Regions Bank's possible New tower

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Regions Bank plots its next move in Nashville

April 27, 2012 5:00 AM

By Nevin Batiwalla

Photo 1 of 1. Click to View.

Nashville’s largest bank is nearing a decision that could make waves in downtown’s commercial real estate market and possibly change the city’s skyline.

I read this last night in the Nashville business journal prem section ,Does anyone know more about this?

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I just read the free part of the article. I am trying to speculate where they would build. Possibly Sobro, but I am sure they would want to stay in the financial district.

I would love to see a 30 story 400 foot tower, but I bet we end up with 20 stories and 225 feet. Let's wait and see.

Thanks for the post Chris. Welcome back! Please join us Saturday at Casablanca in The Gulch for the forum meet. Have not see you since the Provence days years ago.

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I just read the free part of the article. I am trying to speculate where they would build. Possibly Sobro, but I am sure they would want to stay in the financial district.

I would love to see a 30 story 400 foot tower, but I bet we end up with 20 stories and 225 feet. Let's wait and see.

Thanks for the post Chris. Welcome back! Please join us Saturday at Casablanca in The Gulch for the forum meet. Have not see you since the Provence days years ago.

Pinnacle is in Sobro. They are a bank! :)

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Yes, Producer2 they are a bank, but the Pinnacle did something different! That is not the custom. I like the "financial" district and I think the thinking at Regions is the same. Leave Sobro for hotels and condo's. Leave business with business. They can find a vacant lot somewhere in the CBD. 505 CST anyone? Regions may not be high profile enough though for Tony.

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High profile enough? I really don't think that would make much of a difference because if they're willing to put up for the sq footage then I'm sure he wouldn't really care.

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High profile enough? I really don't think that would make much of a difference because if they're willing to put up for the sq footage then I'm sure he wouldn't really care.

Actually, he would. He is looking for a national and/or international headquarters, not a bank regulated to the southeastern United States. Regions is a fine bank, but not known around the world like Lockheed Martin who is rumored to move here. The other rumored company is Facebook. Yes, I have heard that from a reliable source.

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Tony would take whatever he can get. Not a chance Facebook comes here

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Tony would take whatever he can get. Not a chance Facebook comes here

even if they did, I'd bet everything I have that they would go corporate park instead of a high-rise.

I think Eakin or West End Summit would have a better chance than 505CST right now but we shall see.

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Is there a rendering for this proposed Regions Bank tower ?

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Is there a rendering for this proposed Regions Bank tower ?

no, it's all just talk right now. However, I'd expect Regions to depart the Regions Center because it is in desperate need of a rehab on the exterior and I'm sure inside as well.

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Whoa Nelly!!!! Folks, the article states that the prospects of a new building for Regions are slim... just one option the bank would face. They have made no decision, and Nevin compares the Regions decision to what Pinnacle decided 4 years ago. This is most likely a ploy by Regions to get the owners of their building to open up their wallets to renovate the whole building.

Is there a rendering for this proposed Regions Bank tower ?

Nothing is proposed!

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I agree with Blue Raider that Tony would prefer the highest of the high profile. But Regions is rather big league.

WW

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There is always a proposal, and I bet the reporter saw a rendering and was told not to release it yet. Myself and ESU had on occasion visited a developer and they showed us renderings of projects not yet built. I also worked in hotels that had offices on the top floors. I saw renderings of buildings in those office as well, so the word "slim" means "We are not ready to release it yet." Regions has been looking to move for a decade because the footprint of the building does not allow them the cabling access they need for computers and servers. The building is only 17,500 square feet per floor. Today's technological environment requires 25,000 square feet per floor for major corporations like Regions.

The other clue that makes me think this will happen is the fact they never built the 5 story addition on the third avenue side where the bland courtyard is now.

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I'm guessing that for Regions, they would want to be downtown in the CBD rather than in an office park somewhere. That would be the bad part about Regions looking for more office space where they could have 150,000 square feet on one floor rather than 25,000 in a tower.

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I'm guessing that for Regions, they would want to be downtown in the CBD rather than in an office park somewhere. That would be the bad part about Regions looking for more office space where they could have 150,000 square feet on one floor rather than 25,000 in a tower.

Most banks aren't in office parks to begin with, well at least corporate operations that it is. As always, a bank wants to be high profile and have their name out there and that's why you always see at least one high rise in just about every city across the country with a bank's name slapped on top.

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Everybody is on target. Regions will want to stay in the Central Business District. I don't even foresee SoBro. Banks want financial districts. MTSU is dead on.

WW

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Yeah it been a long time since I seen u guys!! I been working alot so it's hard to be there, I love the growth Nashville is having right now , it's amazing . I've heard about Dave and I'm very sorry for his loss.

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No and probably won't for some time. Office towers are not exactly revenue generators like condo's, apartments, and hotels.

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Actually office towers are probably bigger revenue generators in a lot of ways.

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No and probably won't for some time. Office towers are not exactly revenue generators like condo's, apartments, and hotels.

That and the fact we've still got a 30-40% vacant newby in The Pinnacle. Guess we'll wait a see on this, for a good bit.

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Actually office towers are probably bigger revenue generators in a lot of ways.

Please name them! Hotels and apartments are turnkey operations. People are in and out and cash flow leads to lenders loaning money. Condo's' once sold ensure a building has almost full occupancy. Office towers get outdated and get replaced, as do hotels, but office buildings are usually designed around one tenant.

The Sobro and more hotels will get built. I am not so sure about 505 CST. Many people work out of their homes now, and most companies now prefer the suburban office park. I happened to drive down to Thompson's Station this week on business. I saw the construction for the new MARS/Nutro headquarters. It's massive. The need for downtown office towers is slowly disappearing. I respectfully disagree with your assessment office towers are profitable. If they were, we would see a lot more of them.

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Hate to say it but I agree with MTSU. In all but except the largest cities, we will see few tall office towers built from this point on.

WW

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You don't think the move to "greener" pastures (i.e. more urban settings) on account of LEED buildings and the younger vibe of downtowns will cause companies to want to locate in large intown buildings? There is already in fact a move from older (less efficient) office buildings to newer LEED certified buildings just a few blocks away. As usual, this is not yet happening en masse in Nashville, but it's happening in larger cities. It's usually not towers, but there are several on the drawing boards in Atlanta and Dallas that I know of.

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