Data center company purchases Fred's Headquarters building for $25 million, records show
A data center company, 5C, has purchased the former Fred's Inc. headquarters in Memphis, Tennessee, for $25 million to expand its operations. The company is seeking property tax breaks from the Economic Development Growth Engine (EDGE) board, with its application for 15 jobs still pending review.
5C, a Canadian-headquartered data center company, has acquired the former Fred's Inc. headquarters at 4300 Getwell Road in Memphis, Tennessee, for $25 million, according to property records. The acquisition is part of 5C's plans to expand its existing data center operations in the Mid-South, increasing its capacity from 20 megawatts to 35 megawatts. The company aims to redevelop the one-million-square-foot former distribution center into a state-of-the-art facility to serve major technology and artificial intelligence companies, which it states will strengthen Memphis's regional technology economy.
In November 2025, 5C submitted an application to the Economic Development Growth Engine (EDGE) board, seeking property tax breaks in exchange for creating 15 jobs with an average salary exceeding $100,000. However, the EDGE board meeting where this application was to be reviewed was canceled, and seven months later, the PILOT (Payment in Lieu of Taxes) application remains unreviewed and not presented to the board.