Pelican State CU Purchases Piccadilly Building

BATON ROUGE – Pelican State Credit Union closed on the purchase of the historic Piccadilly Building located on Sherwood Forest Blvd. in Baton Rouge. Pelican will begin moving into the 42,000 sq. ft. building over the next six months while leasing some space back to Piccadilly.

The decision to purchase and renovate an existing structure instead of building from the ground up was part of a green initiative by the Pelican Senior Management Team which hopes to achieve LEED certification for this project.

The Leadership in Energy and Environmental Design (LEED) provides independent third-party verification that a project is environmentally responsible and meets the highest green building and performance measures.

“We are recycling $3.5 million in office space,” said Jeffrey K. Conrad, Pelican CEO. “This was an opportunity for us to make a huge environmental impact in our own community,” he said.

Conrad said the majority of building renovations will be focused on energy efficiency and employee friendly green initiatives that result in a happier and more productive workplace.

Renovations on the building will take place starting in January of 2010 and last approximately 3 years as the leased spaces become available over time, said Conrad.

“This is a big move for us at Pelican,” said Conrad, “The Piccadilly building is over four times the size of our original Lake Sherwood Office operations building.”

Conrad said that Pelican has worked with its Board of Directors in selecting this location because it will benefit its staff and membership. “Our objective was to provide a workplace environment that we are proud of and comfortable within,” he said.

Piccadilly was founded in 1944 as a single cafeteria in Baton Rouge and has expanded to operate 115 locations in 15 states. Piccadilly has stayed true to its Louisiana roots by maintaining its headquarters in Baton Rouge and being a community leader in the support of local schools and organizations.

Pelican State Credit Union was established in 1956 and was formerly known as the Department of Hospitals Credit Union. Headquartered in Baton Rouge, LA, Pelican State CU is the fastest growing credit union in the state. As a not-for-profit cooperative, the credit union serves more than 30,000 member-owners. With an asset size of $171 million, Pelican is dedicated to the ‘Little Guy’ and the financial education of the communities it serves.