MBJ: Why one real estate firm is setting up its U.S. headquarters in Memphis
A Montreal-based, commercial real estate company is preparing to open its U.S. headquarters in Whitehaven.
With 24 Memphis properties already, Olymbec is continuing to bet on Memphis. Outside of Memphis, the company only owns 22 other U.S. properties, according to its website.
With the majority of its holdings here, Memphis’ centralized location, and a belief that the city’s industrial and office markets will continue to improve, Olymbec general counsel Jason Berger said Tuesday that Memphis was the clear choice for the new headquarters.
Berger, along with the company’s head of human relations, was relocated to Memphis last June in order to grow the company’s presence in the city. The company’s senior U.S. property manager, Berger said, was already based in Bluff City.
As it prepares to construct a 7,000-square-foot headquarters, Olymbec is seeking city assistance in remedying infrastructure issues related to the Whitehaven site, which sits at 1012 East Brooks Road, as well as tax incentives through the Economic Development Growth Engine (EDGE) for Memphis and Shelby County.
“We’re not looking for a handout. We’re looking for a partner,” Berger said of the incentives.
Berger said the company’s growth goal is to “grow as much as possible.” His company searches for vacant industrial and office properties, purchases them, invests in them and then leases them.