The relocation coincides with Koger's announced contract to take over management of Crocker Realty's 6.1 million-sf office-building portfolio. The joint operation will manage more than 20 million sf of office space in the South.
Earlier this year, Thomas Crocker moved to Jacksonville to become Koger's CEO. He tried to sell Crocker Realty's holdings to Skip Stoltz and Mike Masanoff for $500 million but the deal fell through. Now Crocker plans to sell off his REIT's 127 properties individually.
Koger's headquarters will remain in Jacksonville with a staff of 10, reduced from about 40. The latest changes at Koger follow a management reorganization in June that eliminated 20 jobs.
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