Daily Jigsaw: Discounts to data

By , Daily Memphian Updated: September 14, 2026 4:00 AM CT | Published: September 14, 2026 4:00 AM CT

When Memphis-based discount retailer Fred’s Inc. closed its corporate headquarters in 2019, few could have predicted the dated, wood-paneled offices would eventually be replaced by high-tech computer chips.

Quebec, Canada-based artificial intelligence infrastructure provider 5C Data Centers, part of 5C Group, bought the 1.1 million-square-foot building and 57.6 acres at 4300 Getwell Road for $25 million earlier this year for an artificial intelligence data center. 

In 2025, 5C Group cofounder Steve Perez initially said the project would create more than 250 direct and indirect jobs in the Memphis area, with an investment of more than $500 million.

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