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Regions Bank's possible New tower

chris holman

By chris holman
in Nashville

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NashRugger Burg

NashRugger

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Residential really is the only thing that the Regions Center is really good for in this age. The floor plates, both size and layout, are VERY outdated and needs a new life. Turning this puppy residential with its location and visibilty can make this a very successful project that can help anchor a part of downtown that is relatively dead after 5pm and always has been.

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MLBrumby Metropolis

MLBrumby

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There is a guy over at SSC who sends out emails periodically to some of us who contacted him... and he said that there is a big plan for a new tower downtown, and Regions will be the anchor. He's usually quite reliable, as he's pretty much the only one who posts anything new over there.

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NashRugger Burg

NashRugger

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There is a guy over at SSC who sends out emails periodically to some of us who contacted him... and he said that there is a big plan for a new tower downtown, and Regions will be the anchor. He's usually quite reliable, as he's pretty much the only one who posts anything new over there.

This is of no shock to me at all. The Regions Center represents the office floor plates and designs of old and are not functional even as Class B space anymore. The piece about The Tower in Ft. Worth I mentioned should be its future because that really is the only viable alternative it seems.

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nashwatcher Hamlet

nashwatcher

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There is a guy over at SSC who sends out emails periodically to some of us who contacted him... and he said that there is a big plan for a new tower downtown, and Regions will be the anchor. He's usually quite reliable, as he's pretty much the only one who posts anything new over there.

Any guesses where this new tower might be built?

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timmay143 Burg

timmay143

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No sale in most recent auction on the property. A bid for $15.5 million was the winning bid but was declined.

http://www.tennessea...{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

Geez, how much are our guesses at how much this building is worth? I guess it depends on what the seller sees and if/when they get desperate if this thing continues to just sit there.

I don't know much about the building. A recent 12 story building (the Kimberly-Clark) in Knox sold for around 8 mil or so which I thought was dirt cheap. The building isn't special. It's pretty bland, a box mostly. So the floor plan might be different, but rough guess I would say the 28-story tower may be a decent buy for 20-25 mil??

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timmay143 Burg

timmay143

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Any guesses where this new tower might be built?

I would guess one of the proposed towers we've heard about. Eakin, Tony, maybe Palmer. I'd say more than likely Tony for location, but I really have doubts that is built soon if at all (per trends in the past; MTSU is right about us not getting much in the office tower buildings in the past or future). But I would galdly eat crow if it happened. I would say next probability would be Eakin in the Gulch.

What else we got? Lionstone, but that is in the Music Row area, correct? I don't see the bank moving there. MTSU is probably right that the bank would want to stay in the "financial district" of town. Again, anything could happen. We'll just have to wait and see what happens with this rumor.

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nashvylle City

nashvylle

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I would guess one of the proposed towers we've heard about. Eakin, Tony, maybe Palmer. I'd say more than likely Tony for location, but I really have doubts that is built soon if at all (per trends in the past; MTSU is right about us not getting much in the office tower buildings in the past or future). But I would galdly eat crow if it happened. I would say next probability would be Eakin in the Gulch.

What else we got? Lionstone, but that is in the Music Row area, correct? I don't see the bank moving there. MTSU is probably right that the bank would want to stay in the "financial district" of town. Again, anything could happen. We'll just have to wait and see what happens with this rumor.

Disagree with you. The current Regions Tower is obviously not working and Regions only has one year left on the lease. Unless $100mm dollars of renovations go into the current Regions Center from the new buyer, I would expect Regions to build a new downtown tower. I won't hold my breathe on this new tower to be anything special, however.

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timmay143 Burg

timmay143

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Disagree with you. The current Regions Tower is obviously not working and Regions only has one year left on the lease. Unless $100mm dollars of renovations go into the current Regions Center from the new buyer, I would expect Regions to build a new downtown tower. I won't hold my breathe on this new tower to be anything special, however.

So maybe something like the new SunTrust.

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NashRugger Burg

NashRugger

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Well shoot, no new tower for Regions but at least it's just a shift to better space that obviously fits their needs and comes in at a steal for class A space in terms of rent. I think the green of Regions will look better and stand out more on ONP. I have always felt US Bank's signage is rather small and it kind of just blends in rather than standing out.

Well CBRE, your move now as to what to do about your fledgling high rise.

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