5C Group turning old Fred’s real estate into new tech
5C Group will open an artificial intelligence data center at 4300 Getwell Road, the former Fred’s headquarters. (Submitted)
When Memphis-based discount retailer Fred’s Inc. closed its corporate headquarters in 2019, few could have predicted the dated, wood-paneled offices would eventually be replaced by high-tech computer chips.
Coming tomorrow:
Owner of former Fred’s HQ eschews tax freeze for data center
Quebec, Canada-based artificial intelligence infrastructure provider 5C Data Centers, part of 5C Group, bought the 1.1 million-square-foot building and 57.6 acres at 4300 Getwell Road for $25 million earlier this year for an artificial intelligence data center.
This is an excerpt of this story. To read more, please click here and subscribe.
Topics
5C Group Olymbec USA Fred's Inc. Jonathan Ahdoot Subscriber OnlyThank you for reading The Daily Memphian. Your support is critical.
Did you know we are a 501(c)3 nonprofit news organization? We rely on a mix of revenue from subscriptions (50%), advertising, events and other earned income (25%) and fundraising (25%).
Please consider making a fully tax-deductible donation or other contribution to The Daily Memphian today.
👉🏽 Your subscription pays for you to read all our journalism.
👉🏽 Your donation powers the work we do to reach everyone else with the news.
We believe an informed Memphis is a better Memphis. If you agree, join our growing list of donors now.
Andy Ashby
Andy Ashby covers commercial real estate and economic development. He has worked locally at the Germantown News, the DeSoto County Tribune, the Daily News and the Memphis Business Journal. He graduated from the University of Tennessee, where he photographed the 1998 National Championship game. Email tips or story ideas to aashby@dailymemphian.com
Comments
Want to comment on our stories? If you’re a subscriber, scroll down to the comments. If you’re not a subscriber, only paid subscribers can add their thoughts, so subscribe now. Our commenting policy can be viewed here.