Pinnacle picks 100 Oaks site

Bank pays premium for high-traffic corner

Pinnacle Financial Partners has submitted an application with banking regulators to build its 10th Davidson County office at one of 100 Oaks’ busiest spots.

Executives at Pinnacle said in July that they planned to open a 100 Oaks branch early next year. The largest bank headquartered in Middle Tennessee this summer acquired the site of the former Shell gas station at Thompson Lane and Bransford Avenue as well as an adjacent Bransford parcel.

The bank paid A.H. Johnson Co. $955,000 for the 0.6-acre property, which was appraised earlier this year for about $320,000.

The office will be similar to other local freestanding sites and will feature private offices, drive-through lanes and a meeting area for community use. Hastings Architecture designed the structure, which will be built by R.C. Mathews Contractor.

Pinnacle also is putting the final touches on a new office in Belle Meade. Shares of the company (Ticker: PNFP) are up about 0.5 percent today. So far in 2009, they’ve lost 53 percent of their value.