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atlrvr

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Other than the headquarters staying (for now) I don't see another homegrown company being sold as good news. Harris Teeter, Family Dollar and now Belk will no longer be true local companies. 

As opposed to the alternative and being bought by a competitor and sustaining massive cuts? Given the circumstances, I think this is better outcome. 

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I wouldn't be surprised to see Sycamore try to buy Von Maur and merge the chains.  Could also wait for Bon-Ton group to go bankrupt and buy some of those locations, but they are definitely less premier.  I think Belk will get bigger in all of this.

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I hope this new capital really helps reinvigorate Belk. I seen Lowes opened up its first small urban store in Manhattan. It seems a lot of retailers these days are flirting with smaller Urban projects these days

I had a hard hat tour of the Lowes in Chelsea a few weeks back. Don't get it wrong, its pretty huge still. Hovering around 40k sq feet.

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Not sure if this is good for bad news (probably neutral), but 100% of BB&T's space they occupy at their namesake building (200 S College) is available for lease in 2018 when BB&T's lease expires.  I take that to mean they will probably be relocating to 300 S Tryon or Portman Plaza (I'm guess this one).

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Separately, City Council tonight is meeting in closed door session about economic incentives for a relocating company.  Not sure how big this might be if JDIG is still dead in the water, but maybe JDIG is close to being expanded, otherwise, I assume this will be relatiely minor.

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Thirdly, was reading an article in the Tampa news about 5 Fortune 500 companies kicking the tires on locating there (it wasn't clear if it was full HQ relo or just moving some operations).  When Tampa is involved, Charlotte is in the mix as well.

Edited by atlrvr
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Not sure if this is good for bad news (probably neutral), but 100% of BB&T's space they occupy at their namesake building (200 S College) is available for lease in 2018 when BB&T's lease expires.  I take that to mean they will probably be relocating to 300 S Tryon or Portman Plaza (I'm guess this one).

__________________________________________________________________

Separately, City Council tonight is meeting in closed door session about economic incentives for a relocating company.  Not sure how big this might be if JDIG is still dead in the water, but maybe JDIG is close to being expanded, otherwise, I assume this will be relatiely minor.

___________________________________________________________________

Thirdly, was reading an article in the Tampa news about 5 Fortune 500 companies kicking the tires on locating there (it wasn't clear if it was full HQ relo or just moving some operations).  When Tampa is involved, Charlotte is in the mix as well.

Pure speculation/not sure if there's a connection here, but I've seen a few groups of people touring the soon to be vacated Chiquita space as well. We were supposed to consolidate floors by September, but that was put on hold because were unsure of which floors they're interested in. 

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__________________________________________________________________

Separately, City Council tonight is meeting in closed door session about economic incentives for a relocating company.  Not sure how big this might be if JDIG is still dead in the water, but maybe JDIG is close to being expanded, otherwise, I assume this will be relatiely minor.

___________________________________________________________________

Thirdly, was reading an article in the Tampa news about 5 Fortune 500 companies kicking the tires on locating there (it wasn't clear if it was full HQ relo or just moving some operations).  When Tampa is involved, Charlotte is in the mix as well.

 

Chamber Announcement: Albemarle Corp, a publicly traded specialty chemicals company will relocate to Charlotte from Baton Rouge. 120 jobs with an ave salary of $169,000 per the press release.

I would be surprised if they don't end up in the Arrowood / airport area (but I am just guessing)

Samuel Pruitt of Site Selection Group LLC and Tripp Guin of TRIPP Commercial LLC are representing Albemarle Corporation in its real estate transaction.

Edited by kermit
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Looks like we are getting more jobs too

 

http://www.charlotteobserver.com/news/business/article32312949.html

 

 A vacuum cleaner manufacturer will open a new facility in Charlotte, creating 200 jobs over the next two years.

TTI Floor Care North America — the Ohio-based maker of brands including Hoover, Dirt Devil and Oreck — said Tuesday it will invest $5 million on a “Center of Excellence for Marketing and Innovation.”

“Following an extensive evaluation process, we chose Charlotte because it provides access to talent with the critical consumer products expertise needed to fuel the growth of our iconic brands,” Gary Scott, president of TTI Floor Care North America, said in a statement.

TTI’s new location is still yet to be determined, a spokeswoman for the N.C. Commerce Department told the Observer.

TTI said pay will vary by job function, but the average annual salary for the new Charlotte jobs is expected to be over $103,000 plus benefits.

In a statement from Gov. Pat McCrory’s office, the state granted TTI an award from its Job Development Investment Grant (JDIG) program that may total as much as $3.7 million from 2016 through 2027 once all 200 jobs are created.

Edited by Niner National
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Chamber Announcement: Albemarle Corp, a publicly traded specialty chemicals company will relocate to Charlotte from Baton Rouge. 120 jobs with an ave salary of $169,000 per the press release.

I would be surprised if they don't end up in the Arrowood / airport area (but I am just guessing)

 

#853 on the Fortune 1000 list....nice win......EDIT:  They actually might now be close to a Fortune 500 company.  They purchased Rockwood Lithium in 1Q15, and if I'm looking at financials correctly, they are now on trace to do $3.6 billion annually, which should be enough to crack the F600.

Edited by atlrvr
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I think this is just a 'kinda' win. CBJ reports that they bought Rockwood Lithium in Kings Mountain earlier in the year and they have moved the HQ to be closer to their new acquisition.

http://www.bizjournals.com/charlotte/blog/outside_the_loop/2015/08/chemicals-company-to-bring-its-headquarters-120.html?ana=e_du_pub&s=article_du&ed=2015-08-25&u=jDmEk+CKbYnAvaVfOFOlFGXcGSC&t=1440531181

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I think this is just a 'kinda' win. CBJ reports that they bought Rockwood Lithium in Kings Mountain earlier in the year and they have moved the HQ to be closer to their new acquisition.

http://www.bizjournals.com/charlotte/blog/outside_the_loop/2015/08/chemicals-company-to-bring-its-headquarters-120.html?ana=e_du_pub&s=article_du&ed=2015-08-25&u=jDmEk+CKbYnAvaVfOFOlFGXcGSC&t=1440531181

uggghhh...  That's not a great mine...

Nevermind I see they bought the whole company not just the Kings Mountain mine...  That is a LOT better.  The Kings Mountain mine is fairly expensive to extract Lithium from, and is a fairly limited resource, but Rockwood is a major Lithium miner in Chile and Nevada.  With them moving to Charlotte I wonder if the region will be getting a battery manufacturer soon... 

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uggghhh...  That's not a great mine...
Nevermind I see they bought the whole company not just the Kings Mountain mine...  That is a LOT better.  The Kings Mountain mine is fairly expensive to extract Lithium from, and is a fairly limited resource, but Rockwood is a major Lithium miner in Chile and Nevada.  With them moving to Charlotte I wonder if the region will be getting a battery manufacturer soon... 

We have Alevo, right? but a non-conventional battery.

Celgard uses lithium?...though they were acquired recently, IIRC.

 

 

 

 

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We have Alevo, right? but a non-conventional battery.

Celgard uses lithium?...though they were acquired recently, IIRC.

Alevo isn't actually making anything right now I don't think.  I think they are still in the process of setting up their plant.  Celgard is a supplier to the battery manufacturers.

Regardless, Charlotte is a very sensible place for them to be.  Rockwood is headquartered in Germany, where they do a lot of side business.  The bad side to Charlotte is getting to Chile, they basically have to go through Atlanta, or Dallas.

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#853 on the Fortune 1000 list....nice win......EDIT:  They actually might now be close to a Fortune 500 company.  They purchased Rockwood Lithium in 1Q15, and if I'm looking at financials correctly, they are now on trace to do $3.6 billion annually, which should be enough to crack the F600.

It's good to be on this side of a Fortune 500/1000 HQ shuffle.  Seems like we have consistently been on the losing side of those HQ shuffles with all the acquisitions that have taken place since 2008.  Although I do hate this win was a loss for Baton Rouge; this relo plus the loss of Shaw to CB&I a couple of years ago are big blows to them.

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File under low-chance but possible:

The Atlanta Business Chronicle reports a team from Georgia met with GE reps last week to tout Atlanta as a potential new corporate home. Other suitors reportedly include North Carolina, Florida, New York and Texas.

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and while we were sleeping we gained another HQ of a global company, but its really just a formality.  Jeld-Wen finally admitted that they are now a Charlotte-based company, and they are planning an IPO (although I am guessing that may take a few months).  http://www.bizjournals.com/charlotte/blog/outside_the_loop/2015/09/jeld-wen-considering-ipo-now-calls-charlotte-home.html?utm_source=dlvr.it&utm_medium=twitter

I have mentioned Jeld-Wen's sponsorship of Portland's spectacular historic and thoroughly renovated MLS field in another thread. CBJ mentions it too, but they really flubbed one critical detail, I'll let you figure out what that was:

When Jeld-Wen departed Oregon it didn’t renew a sponsorship for the Jeld-Wen Stadium, the home to the Portland Timbers, a professional hockey team.

Edited by kermit
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We attracted a company from Portland Oregon.... how the hell did we do that?

I'm guessing these great cities are so hyped and in demand, they are too damn expensive now for fairly successful companies. Now we get these fairy successful companies.

My greatest hope though is these companies and employees will demand quality urban spaces and won't build a ridiculous campus on the outskirts of the city.

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We attracted a company from Portland Oregon.... how the hell did we do that?

I'm guessing these great cities are so hyped and in demand, they are too damn expensive now for fairly successful companies. Now we get these fairy successful companies.

My greatest hope though is these companies and employees will demand quality urban spaces and won't build a ridiculous campus on the outskirts of the city.

Likely tax breaks.  And ability to attract white collar workers.  Can't run your corporate offices when everyone is too busy practicing for their next DJ gig :)

http://www.dailymotion.com/video/xoejjb_portlandia-everyone-is-a-dj_fun

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Likely tax breaks.  And ability to attract white collar workers.  Can't run your corporate offices when everyone is too busy practicing for their next DJ gig :)

http://www.dailymotion.com/video/xoejjb_portlandia-everyone-is-a-dj_fun

They got tired of eating kale breakfast, lunch and dinner.

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