nexAir, one of the largest distributors of atmospheric gases and welding supplies in the US, has signed a letter of intent to lease office space in Crosstown Concourse , a mixed-use re-development of a former catalogue order plant and retail store in Memphis.

The agreement signifies a move of nexAir’s headquarters to the historic, 1.1 million-square-foot structure, due to open in early 2017.

With a lease agreement for 33,000 square feet, nexAir will be the largest for-profit tenant at Crosstown Concourse, which currently boasts organisations including St. Jude Children’s Research Hospital, Methodist Le Bonheur Healthcare, Crosstown Arts and Christian Brothers University as future tenants.

“Our company was founded here in Memphis in 1940, and as we began to outgrow our current offices, we were looking to relocate somewhere that spoke to our city’s rich culture of innovation and creativity,” said Kevin McEniry, CEO at nexAir.

“We look forward to moving to Crosstown Concourse and becoming a part of this exciting new community. Additionally, the vibrant new area will give our team members the opportunity to participate in the local music, arts and wellness scenes and further contribute to the revitalization of our city.”

After sitting vacant for more than 20 years, the former Sears Crosstown is being transformed into one of the largest historic adaptive reuse projects in Tennessee history. More than $200m from philanthropic and private sources, as well as public funding, has been secured to complete the project.

Construction of nexAir’s new offices at Crosstown Concourse is underway, and nexAir plans to move into the space in early spring of 2017. Approximately 65 employees will relocate to the new headquarters; nexAir fill plants, distribution centres and retail stores will not be affected by the move.