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10 to Watch: LEDIC Realty Company

The following is a sneak preview of the Memphis Crossroad's 10 to Watch issue to be released this week. Click here to view previous issues of Memphis Crossroads.

You can’t guarantee what the future holds, but you can make some educated guesses by watching who’s on the move. The months ahead are looking particularly bright for these 10 local companies who have been laying the groundwork and are now poised to enjoy an exciting 2016. 
 
This is a great mix of organizations: seasoned and brand spanking new, from a fresh storefront enterprise to a firm aiming for $2 billion in sales — and every one of them focused and passionate. You’ll notice in each is a shrewd ability to see a need that isn’t being met and get ahead of it. You’ll also see those essential qualities that make a company worth looking at: innovation, anticipation and preparation. 
 
There are many reasons to cheer on Memphis as a great town for business. Here are 10 of them. 




LEDIC Realty Company

Keep an eye on LEDIC Realty Company — it’s on the move horizontally and vertically. It started in 1979 as a management group and has long been focused strictly on managing apartments for other owners. The changes, beginning around 2010, are picking up speed as LEDIC is steadily acquiring properties around the country (some 9,000 units in 2015) and vertically integrating by partnering with companies that provide related capabilities. “There’s an underserved middle market,” said LEDIC CEO Pierce Ledbetter. “We believe strongly that over the next decades, there will continue to be a renters’ market and a shortage of housing, particularly for middle income Americans.”

The company decided the expansion required new corporate headquarters and while it considered other locations, “Memphis scored exceedingly well, especially in internet connectivity,” Ledbetter said. That was crucial since the ongoing acquisitions would require rapid communications, including video conferencing and live accounting to improve efficiency. The new high-tech location, at 555 Perkins Ext., is expected to be fully occupied by May. The changes are also expected to bring in additional jobs — about 100 in Memphis and 200 elsewhere in Tennessee with good pay, such as accountants, developers and engineers. There’s another goal that Ledbetter hopes will result from LEDIC’s growth and streamlining: “The company will be better controlled and more profitable — that’s the perfect recipe for an IPO.” 

Story by: Jon W. Sparks
Photo by: Troy Glasgow
Posted: 3/22/2016 7:30:00 AM | with 0 comments
Filed under: 10, Company, Crossroads, Headquarters, Ledbetter, LEDIC, Memphis, New, Pierce, Realty, to, Watch



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The latest news from the Greater Memphis Chamber. For more information, contact Director of Communications Christina Meek at (901) 543-3504 (cmeek@memphischamber.com) or Communications Specialist Jenny C. Fish at (901) 543-3558 (jfish@memphischamber.com).

 

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