Commencement Bank closer to downtown Tacoma relocation

If you happened to be near South 11th Street and Commerce Street in downtown Tacoma this morning, you probably noticed a giant banner announcing Commencement Bank’s upcoming relocation.

Last month, the Tacoma Daily Index was first to report a massive tenant improvement project was under way inside the building, which is located at 1102 Commerce Street. According to Tom Brown of Neil Walter Company, the commercial real estate broker for the building, Commencement Bank, currently located at 1135 Broadway Plaza, will be moving into the building in March. The bank will occupy approximately 12,000-square-feet of the 34,110-square-foot building, including the Commerce Street, third, and sixth floors. The building’s ownership group is also installing a new HV/AC system throughout the entire building.

The six-story, 38-year-old building has been a hub for banks in recent years. Union Bank permanently closed its location there in September, choosing to consolidate its operations at 1502 Commerce Street. In 2010, the previous tenant, Frontier Bank, was purchased by Union Bank.

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Building improvements under way for Commencement Bank’s relocation (01/26/12) —