BankPlus announced the acquisition of 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 property will house bank and mortgage operations along with other support areas and will provide room for growth that is expected to support the bank’s strategic expansion initiatives for years to come.
Jack Webb, President & Chief Executive Officer of BankPlus, commented, “We are excited to have purchased an outstanding property that is well-located on Highland Colony Parkway in Ridgeland. 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.”
In addition to bringing together the operational areas of the bank to create a cohesive working environment, these offices will feature a state-of-the-art conference center with configurable, multipurpose training facilities. These training areas will include break-out rooms and other collaborative spaces that can be used by a variety of personnel. BankPlus has also acquired an adjacent parcel of approximately three acres to provide for additional parking.
Renovations will be completed in stages with the first phase targeted for completion in early 2025. Paragon Centre’ was developed by Mark S. Jordan and constructed by Fountain Construction Company, Inc. (Brad, Chris, and the late D.G. “Sonny” Fountain) between 1998 and 2006. Both Jordan and the Fountains have maintained a successful partnership owning Paragon Centre’ for 25 years.
Paragon Centre’ currently leases office space to several thriving businesses. As part of the purchase, BankPlus will honor existing leases and will collaborate with tenants on the bank’s plans for the development.