One Commerce Square facts for kids
Quick facts for kids One Commerce Square |
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| Former names | National Bank of Commerce Building, Sun Trust Bank Building |
| Alternative names | iBank Building |
| General information | |
| Architectural style | Modern |
| Address | 40 South Main Street |
| Town or city | Memphis, Tennessee |
| Coordinates | 35°08′38″N 90°03′10″W / 35.143823°N 90.052885°W |
| Completed | 1972 |
| Owner | Memphis Commerce Square Partners |
| Height | 396.0 feet (120.7 m) |
| Technical details | |
| Floor count | 30 |
| Floor area | 503,999 sq ft (46,823.0 m2) |
| Design and construction | |
| Architecture firm | Roy P. Harrover & Associates |
One Commerce Square is a tall, 30-story building in Downtown Memphis, Tennessee. People often call it the "iBank Tower." It used to be known as the NBC Building and later the SunTrust Building. It's the fourth tallest building in Memphis, Tennessee. You can find it at the corner of Monroe Avenue and South Main Street. Today, it's home to the main office of Southern Airways Express.
Contents
Building History
Starting Construction
Work on One Commerce Square began in 1972. It was built by the National Bank of Commerce (NBC). The building was finished in 1973. It even kept the original bank lobby from 1929! This building shows a modern style. It's a top-quality office building in downtown Memphis.
Who Designed It?
A local Memphis architect named Roy Harrover designed One Commerce Square. He also designed the Memphis International Airport and the Memphis College of Art. Because of the bank, people in Memphis started calling it the "NBC Building." In 1984, NBC sold the building for $46.1 million.
Changes in Ownership
Over the years, the building changed hands a few times. In 1996, it was sold for $21.7 million. Then, in 1999, a group from Jacksonville, Florida bought it for $31.5 million. This group was called One Commerce Square LLC.
SunTrust Takes Over
In 2005, the National Bank of Commerce (NBC) was bought by SunTrust Banks. At that time, NBC was still the main tenant in the building. After the purchase, the building became known as the SunTrust Building. However, SunTrust later moved out of a large part of the building in 2009.
Pinnacle Airlines Moves In
In 2010, a regional airline called Pinnacle Airlines Corp. announced big news! They planned to move over 600 employees into One Commerce Square. They would use 12 floors of the building. The Downtown Memphis Commission helped make this happen. They provided $5 million to help fix up the building. This was part of a $20 million project. The airline moved in during the fall of 2011. A company called Looney Ricks Kiss helped redesign the building. But in 2013, Pinnacle Airlines decided to move to Minneapolis instead.
Memphis Commerce Square Partners
In 2009, Park National Bank was taken over by the Federal Deposit Insurance Corporation. Their assets were sold to U.S. Bancorp. Then, in December 2010, a local investment group bought the building. This group is called Memphis Commerce Square Partners. The building is now managed by Cushman & Wakefield.
