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Citing plans for growth in its home city, Primacy Relocation recently purchased the 124,000-square-foot Lakecrest One office building at 6077 Primacy Parkway for $12.9 million.
The building has housed the company's headquarters since March 1997 when it spun off from Memphis-based moving company Armstrong Relocation. Since then its presence has grown from just 10,000 square feet to 45,000 square feet.
"Our intent is over the next 10 to 15 years to fill the building," says CEO Matt Spinolo.
The employee relocation service provider has filed an application for a tax abatement on the property with the Memphis and Shelby County Industrial Development Board. The company has already closed-on the Lakecrest building, but Spinolo says the success of the application will influence the company's decision to split its back office and administrative operations by opening an office in Sacramento, Calif., or continue to perform nearly all of those functions in Memphis.
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