44 replies to this topic

[wrldcoupe4]

hoobo, on Sep 14 2007, 12:09 PM, said:

VW is an automaker that is bleeding money in the U.S.  They are not going to move into a high-rise because they'd bleed even more money.  They are moving to Herndon, not Tyson's Corner and not Rosslyn, but Herndon.  Take a look at the F-500 companies in Virginia.  Do you think CarMax or Circuit City will move into a high-rise office tower?  How about the number 2 company on the list, Sprint-Nextel?  Verizon and AT&T have the cash, but S-N has nothing.  Even Norfolk-Southern squeezed money from the state to keep from relocating to Philadelphia.  Of all the companies, Capital One, Dominion Resources, and Genworth Financial are the only ones I can see in a true high-rise tower.  Of those:  DR is in downtown Richmond, Genworth is in suburban Richmond, and CO is in Tyson's Corner along with Gannett.  CO also has big operations in Richmond.  That's why Richmond is the most likely candidate.  Followed by Tyson's Corner after the Metro is built through there.  But you have to also remember that Altria is moving only 200 employees to Richmond, which is 4 or 5 floors of office space.  Considering that Wachovia Securities is moving 1000+ employees out, you get a net gain in vacant office space.  MeadWestvaco is building a mid-rise, not high-rise, HQ in downtown Richmond.  As for Tyson's Corner, the same Metro line will serve Reston and Herndon and their office complexes, which means more competition.

Wow, you sure do a good job of keeping up with things being so far away!

CarMax recently finished a new environmentally friendly HQ in suburbia. Circuit City definitely won't be moving into anything new unless they can figure out how to compete with Best Buy. Cap One recently built a huuuuge corporate campus in West Creek in suburban Richmond, so unless they decide to move the Corporate HQ down 95 then there's not much hope for a highrise there. Dominion's already in a highrise... I've heard they are looking to empty out of their Innsbrook offices and send those folks downtown. Most of their downtown/riverfront space is full and definitely couldn't absorb the employees in Innsbrook, but I see them simply leasing space, not building a new tower. Genworth is in a midrise out near Philip Morris' HQ which is in the old Reynolds HQ, and I imagine Altria will be moving into Reynolds Crossing--walking distance to PMUSA.

Wachovia Securities will stagger its withdrawal out of Riverfront Plaza as to not flood the market with vacant space. Still, Riverfront Plaza is some of the nicest/most coveted Class A space in downtown if not the region so it should be absorbed sooner than later. It could impact a new tower proposal downtown, but the way I understand it, the new tower proposal is more about ego than market conditions.

Edited by wrldcoupe4, 16 September 2007 - 10:53 AM.

[beltwayboy08]

wrldcoupe4, on Sep 16 2007, 12:52 PM, said:

Wow, you sure do a good job of keeping up with things being so far away!

CarMax recently finished a new environmentally friendly HQ in suburbia. Circuit City definitely won't be moving into anything new unless they can figure out how to compete with Best Buy. Cap One recently built a huuuuge corporate campus in West Creek in suburban Richmond, so unless they decide to move the Corporate HQ down 95 then there's not much hope for a highrise there. Dominion's already in a highrise... I've heard they are looking to empty out of their Innsbrook offices and send those folks downtown. Most of their downtown/riverfront space is full and definitely couldn't absorb the employees in Innsbrook, but I see them simply leasing space, not building a new tower. Genworth is in a midrise out near Philip Morris' HQ which is in the old Reynolds HQ, and I imagine Altria will be moving into Reynolds Crossing--walking distance to PMUSA.

Wachovia Securities will stagger its withdrawal out of Riverfront Plaza as to not flood the market with vacant space. Still, Riverfront Plaza is some of the nicest/most coveted Class A space in downtown if not the region so it should be absorbed sooner than later. It could impact a new tower proposal downtown, but the way I understand it, the new tower proposal is more about ego than market conditions.

how big of a tower do they have proposed? it stinks that all our big f-500's are in suburbia. I think FFX co. , and maybe Arlington co. are giving like tax abatements to companies who move into higher density areas. again, not sure.. thought i had read somthing a while back in the post. there is a definite push tho for people to start building up in NOVA. it will happen, but slowly now that we are in a housing slump. if we had had the mega anti-subdivision push going as strong as it is now like 5 years ago, we would already have some more dense and taller skylines, and probably some new ones where there aren't any now like merrifield and springfield. it has to be said that alexandria, tysons, ballston, and rosslyn are shaping up nicely. I was coming back from a nationals game last nite driving across the 14th st. bridge, and rosslyn is very attractive at nite. especially with the waterview development in place. i like the way it reflects on the water.  i have long anticipated the arrival of the future turnberry tower, and rosslyn central place on the skyline. they will be some very nice center pieces. most of the buildings that are going up now are residential and mixed use. imo, that will be the large majority of what we see going up fo the next few years or untill the slump lifts. not so much strictly office space. after that, who knows. when it does lift, all the political and economic factors are in place for either some really tall buildigs, or tons of mid rise buildings in dense areas. what do you think?

[wrldcoupe4]

As of right now the tower's height and size are still fluid from what I know.

[beltwayboy08]

wrldcoupe4, on Sep 16 2007, 10:17 PM, said:

As of right now the tower's height and size are still fluid from what I know.

what does richmond's motto mean? i see you have it as your icon...
also, how did you get that flag to stay?? thats neat.

Edited by beltwayboy08, 21 September 2007 - 06:47 PM.

[wrldcoupe4]

Sic Itur Ad Astra - Such is the Way to the Stars

I think the image stays there if you put it on the same line as the link and the motto.