VOL. 132 | NO. 120 | Friday, June 16, 2017
Wunderlich Seeks $100K Improvement Grant for One Commerce Move
By Bill Dries
Wunderlich Securities Inc. is seeking a $100,000 grant from the Center City Development Corp. for the coming move of its headquarters to One Commerce Square.
The grant for tenant improvements is on the agenda for the Wednesday, June 21, meeting of the CCDC.
Wunderlich Securities plans to move its headquarters Downtown into the One Commerce Square building. (Daily News File)
A memo from Downtown Memphis Commission president Terence Patterson about the grant request says Wunderlich’s upcoming acquisition by B. Riley Financial Inc. of Los Angeles in a $67 million deal comes with a pledge by B. Riley to provide capital for an expansion of Wunderlich’s wealth management division here and across the country.
“This growth, coupled with plans to shift some operational responsibilities from the larger organization to Wunderlich, could over time create even more jobs in Memphis,” Patterson wrote.
Wunderlich CEO and founder Gary Wunderlich told employees Wednesday, June 14, of the coming move from East Memphis to Downtown.
In a letter dated Thursday formally seeking the grant, Wunderlich says his company will have an “approximate” 13-year lease at One Commerce with $2 million in capital spending for leasehold improvements.
The company plans to lease 30,000 square feet at One Commerce on the 16th and 18th floors and will have signage rights on the high-rise office building. The company plans to keep a presence in East Memphis.