One Commerce Square represents a modernism architectural style and is currently a Class A multi-tenant commercial office building in downtown Memphis.

The building was purchased in 1999 for $31.5 million by Jacksonville, Florida–based Southcoast Capital Group, which operated as One Commerce Square LLC.

[3] However, One Commerce Square LLC defaulted on a $24.5 million loan dated December 20, 2002, through Archon Financial LP.

Stan Little, chairman and CEO, answered the first phone call after the airline moved into its new office headquarters in One Commerce.

[8] In December 2010, a local investment group known as Memphis Commerce Square Partners purchased the building from U.S. Bancorp.