Pelican State Credit Union has struck a deal to purchase, and then lease back, a portion of Piccadilly’s headquarters on South Sherwood Forest Boulevard. Pelican State will close on the 42,000-square-foot building in December and lease back 15,000 square feet to Piccadilly. Both companies will operate their corporate offices out of the building. Officials with Pelican State would not disclose terms of the deal. Pelican State, which was formerly the Department of Hospitals Credit Union, has eight branches across the state and is currently headquartered on Lake Sherwood Avenue. Mark Hebert of Kurz & Hebert represented Piccadilly in the deal, while Roger Clark of Labarre Associates represented Pelican State.
Credit union to buy, lease back space in Piccadilly HQ
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