LEDIC Realty Company will locate its new national headquarters in Memphis, TN. LEDIC, a fully integrated manager, owner, and developer of multifamily properties across the U.S., will invest $10.2 million in a new state-of-the-art facility and create 300 jobs in Tennessee.
LEDIC was founded in Memphis in 1979. After merging with a Montgomery, AL based firm in 2015, LEDIC made the decision to locate its national headquarters and training facility, a key feature of the headquarters location, in Memphis.
Currently located at 2650 Thousand Oaks Blvd., LEDIC will relocate all of its national headquarter personnel and equipment to 555 S. Perkins Rd., a four-story, 60,000-square-foot building. Approximately 100 of the new jobs will be based at the national headquarters while the remaining 200 jobs, which include management, construction, maintenance and leasing positions, will be distributed throughout the state.
The company will retrofit and improve the space to create a state-of-the-art training facility housing classrooms configured with training technology and equipment. The training facility will educate not only LEDIC’s employees, but will also serve as a location to host large real estate association groups and expand real estate professional education.
“LEDIC’s decision to locate a new national headquarters in Memphis marks the second headquarters commitment in less than two weeks right here in Shelby County,” said Tennessee Economic and Community Development Commissioner Randy Boyd. “Tennessee is a state that values and nurtures our businesses, and we strive to promote their success. I appreciate the new jobs LEDIC is creating for our communities and look forward to our continued partnership.”
In late October, Orgill, Inc., a hardware and home improvement products distributor, announced plans to build its new world headquarters in Collierville, creating 115 new jobs.
“LEDIC is honored to grow alongside our city’s roster of leading multifamily firms headquartered in Memphis, including MAA, EdR, Belz, Boyle, Carlisle, Fogelman, Lightman, MRG, Patton & Taylor, Turley, among others – a tradition of real estate leadership and entrepreneurialism that was exemplified by a Memphis role model, Kemmons Wilson, founder of Holiday Inn,” said LEDIC CEO Pierce Ledbetter. “Over half of all apartments in Shelby County under construction today are managed by LEDIC, and as we participate in significant development projects across Shelby County, including Chisca, Sears Concourse, Fieldstone, Carrington at Shilling Farms, we aim to improve the entire city and county.”