A tenant you can bank on is headed to a future Midtown development.
Renasant Bank will open a branch in Loeb Properties’ new 7,500-square-foot retail center at 2046 Union Ave. The bank joins Chipotle as the announced tenants.
In January, Metropolitan BancGroup Inc. — parent company of Metropolitan Bank — announced it would merge into Renasant Corp. — parent company of Rensant Bank — as part of a $190 million all-stock transaction. That merger is expected to close July 1.
Phillip May, former market CEO for Metropolitan Bank’s Memphis market and current president of Memphis/West Tennessee for Renasant Bank, said the Union Avenue location was already in the works for Metropolitan before the merger announcement.
“We have been looking in Midtown for a couple of years,” May said. “We have a lot of clients there, particularly with our medical banking group. Being that close to the medical district is important.”