October 04, 2016

Work Begins on Boyle’s East Memphis Pinnacle Project

Memphis Business Journal

October 4,2016

Pinnacle Financial Partners’ (Nasdaq: PNFP) future Memphis headquarters remains on pace to open in fall 2017.

In July, a $20 million building permit revealed that Boyle Investment Co. planned to construct a new building at 949 S. Shady Grove Road in East Memphis. Later that same month, it was announced that Pinnacle would be the lead tenant in the 155,000-square-foot space. Pinnacle plans to lease 35,000 square feet. Boyle is currently working on filling the remaining space.

“As long-term owners rather than ‘build to sell’ developers, we are in the process of piecing together the different requirements of several prospects,” said Kathy Jones Pampuro, senior vice president with Boyle Investment Co. “We feel positive about leasing activity. It’s exciting to watch the last Ridgeway Center site being developed.”

Work is now underway on the seven-acre lot for drainage, driveways and a parking lot.  Excavation also has started on the basement, retaining walls for the basement parking garage and the building’s foundation. Steel is expected to start going up in November.

The future six-story Class A office building will also have remote drive-thru banking lanes and a drive-up ATM for Pinnacle customers.

Boyle started developing the Ridgeway Center area in the early 1970s.

“With the East Memphis submarket being the premiere submarket in the city, and ‘A’ vacancy being low, it’s very significant and fun for our office team to work on,” Jones Pampuro said.