UAB Eyes Space in Regions Plaza, Sources Say

By Ryan Poe – Birmingham Business Journal
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The University of Alabama at Birmingham is looking to lease space in the vacant Regions Plaza in downtown Birmingham.

The school has opened negotiations with the 18-story Plaza’s owner, West Second Street Associates LLC, about leasing space for administrative offices, according to multiple sources familiar with the matter who asked to remain anonymous.

If the deal goes through, UAB would take space not occupied by Viva Health Inc., which is planning to relocate next year.

Neither John Pavone of West Second Street nor UAB spokeswoman Dale Turnbough immediately returned calls or emails.

Regions Plaza was home to the headquarters of Regions Financial Corp. (NYSE: RF) prior to its 2006 merger with AmSouth.

A hotel was once planned for the building, but that project stalled during the recession.

Regions Financial Corp. sold the 217,875-square-foot Plaza in March 2011 to West Second Street Associates for $5 million – $2 million less than Regions’ asking price.