LEDIC Realty Co. is reaffirming its commitment to Memphis with a $10.2 million investment in a new headquarters facility that will bring 300 jobs to Tennessee, 100 of which will be in the Bluff City.
LEDIC, a fully integrated manager, owner and developer of multifamily properties across the U.S., will relocate its national headquarters to a four-story, 60,000-square-foot building at 555 S. Perkins Road that once housed the Oak Hall department store. The company’s current offices are at 2650 Thousand Oaks Blvd.
LEDIC will retrofit and improve the Perkins Road space to create a state-of-the-art training facility that will house classrooms configured with training technology and equipment. It will be used to educate LEDIC’s employees as well as have the ability to host real estate association groups and continuing education opportunities.
LEDIC was founded in Memphis in 1979. Along with the headquarters announcement came a name change from LEDIC Management Group to LEDIC Realty.
The 200 new jobs across Tennessee will include management, construction, maintenance and leasing positions.
LEDIC has acquired more than 9,000 apartment units in 2015, bringing the number of apartment units it manages to 40,000 nationwide.
There are more than 1,100 employees nationwide, and the added jobs in Memphis are vital, said Phil Trenary, President and CEO of the Greater Memphis Chamber.
“LEDIC’s decision to have their new corporate headquarters in Memphis is not only a win for the business community but a win for Memphians as well,” he said. “The chamber and our partners work every day to provide good jobs and grow our local economy.”
LEDIC is no stranger to big projects in Memphis. LEDIC is managing the residential floors of Crosstown Concourse and Downtown’s Chisca Hotel, among others.
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