The 150,000 sq. ft. property will house bank and mortgage operations along with other support areas.
BankPlus announced on Thursday that it was acquiring the Paragon Centre’, a 14-acre office complex located on Highland Colony Parkway in Ridgeland, Mississippi.
Consisting of three Class A office buildings encompassing approximately 150,000 square feet, the company says the property will house bank and mortgage operations along with other support areas. The acquisition also provides room for growth to support the bank’s strategic expansion initiatives for years to come.
“We are excited to have purchased an outstanding property that is well-located on Highland Colony Parkway in Ridgeland,” said Jack Webb, President & Chief Executive Officer of BankPlus, in a statement. “It will allow BankPlus to house our support teams in a central location near our corporate headquarters, with enough space to meet our needs far into the future as a growing regional bank.”
The offices will feature a state-of-the-art conference center with configurable, multipurpose training facilities. BankPlus said it has also acquired an adjacent parcel of approximately three acres to provide for additional parking.
Renovations are expected to be completed in stages with the first phase targeted for completion in early 2025.
Paragon Centre’ currently leases office space to several thriving businesses. As part of the purchase, BankPlus said it will honor existing leases and will collaborate with tenants on the bank’s plans for the development.
With over $7.5 billion in total assets, BankPlus, founded in 1909, operates over 80 financial centers throughout Mississippi, Alabama, Louisiana, and Florida. BancPlus Corporation is the holding company of BankPlus.