MONROE — La-Z-Boy Inc. today finalized the purchase of a block of land from the Monroe-based Sisters, Servants of the Immaculate Heart of Mary, that the furniture maker plans to use for its new World Headquarters.
The company said closing documents transferring 120 acres of the religious order’s property were officially signed, clearing one of the final hurdles for the future construction of the planned $50 million, three-story, 200,000-square-foot, state-of-the-art headquarters that can house up to 500 employees.
Kurt Darrow, La-Z-Boy chairman, president, and chief executive officer, said the company has a goal of breaking ground and beginning construction in the spring and expects to move into the new headquarters in late 2014 or the first half of 2015.
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