Clark Tower, the 34-story giant that has long defined the Poplar Avenue skyline in East Memphis, is officially on the market, putting one of the city’s biggest office properties in play just as the Poplar corridor’s Class A scene continues to sort itself out.
Broker Materials and Local Reporting
The marketing package for 5100 Poplar Avenue bills Clark Tower as a “Class A 34-story high-rise anchoring Memphis' premier East Memphis office submarket” and highlights recent capital improvements to the property. According to Action News 5, the high-rise is being actively pitched to prospective buyers, with no public asking price attached.
CBRE is handling the offering on a broker portal, positioning the tower as a flagship office play in East Memphis for investors still hunting for large, institutional-grade assets.
Building Basics and Size
Built in the early 1970s, Clark Tower contains roughly 653,214 rentable square feet spread across its 34 floors, with an attached seven-story covered parking garage, according to LoopNet and related property databases. Those materials spell out the building’s size, parking count and typical floorplates for tenants sizing up space options.
The Skyscraper Center records the tower’s floor count and height, reinforcing its status as a defining piece of the East Memphis skyline.
Ownership History and Recent Valuations
Public records and local coverage show Clark Tower changing hands in 2021 after a bank disposition, landing with local investor ownership that has held it since. The 2021 deal was reported by the Memphis Business Journal, which also noted the property was last appraised at about $19.37 million, a number now serving as a backdrop as fresh bids line up.
How the Memphis Office Market Shapes the Sale
Any buyer kicking the tires on Clark Tower has to square it with a Memphis office market that has shown modest stabilization this year. CBRE has reported a direct vacancy rate in the mid-teens as of mid-2026, with leasing activity still cautious and concentrated in the primary submarkets. In its Q1 2026 figures, CBRE noted a modest year-over-year tightening in conditions.
On the demand side, market trackers such as TenantBase show East Memphis interest leaning heavily toward healthcare, finance and professional-services users, the types of tenants most likely to anchor a Class A tower like Clark.
What’s Next for the Tower
Broker contacts listed in the public offering say they are fielding inquiries from qualified buyers, a pool expected to include both local investors and regional private-equity groups still comfortable with stabilized office cash flows. Whether Clark Tower ultimately trades as a straight income property or gets repositioned for a new use will hinge on two big variables: how lenders feel about office deals right now and how well tenants along the Poplar corridor stick around.
For now, the city’s tallest East Memphis high-rise is up for grabs, and the next owner will be stepping into a high-visibility bet on where the Poplar office market goes from here.
