Economic Development - Expansions and Relocations

[SouthEndCLT811]

Sherwin-Williams staying in Cleveland to be official tomorrow

https://www.cleveland.com/business/2020/02/sherwin-williams-will-stay-in-cleveland-move-rd-to-brecksville-sources-say.html

As a former Cleveland resident all I can say is FINALLY something is getting built on the lots mentioned in the article.  They are a huge gap between an entertainment district and the rest of the downtown.   Hopefully they include retail. 

Edited February 6, 2020 by SouthEndCLT811

[U_R_]

Premier Inc. (NASDAQ: PINC), a leading healthcare improvement company, today announced that it has entered into a definitive agreement to acquire substantially all the assets and certain liabilities of Acurity, Inc. and Nexera, Inc., two indirect wholly owned subsidiaries of the Greater New York Hospital Association (“GNYHA”), for approximately $291.5 million, comprised of approximately $166.1 million in cash at close and additional estimated deferred payments of $125.4 million.

Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,000 U.S. hospitals and health systems and approximately 175,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.

https://www.businesswire.com/news/home/20200204005286/en/Premier-Acquire-Acurity-Nexera-Businesses-Greater-New

[QCxpat]

Today's Charlotte Ledger - News In Brief - New corporate HQ 

"Glatfelter, a publicly traded supplier of engineered materials with $928M in annual revenue, is moving its headquarters to Charlotte from York, Pa., in mid-2020, the company said last week:  “Charlotte provides enhanced access to a larger pool of critical resources and talent for future growth, and the Carolinas are a leading hub for the broader nonwovens industry. Additionally, being near a premier airport like Charlotte Douglas International allows for easier and more efficient business travel.” It is unclear where Glatfelter is moving and how many headquarters employees it has. The company had about 2,600 workers worldwide in December 2018, according to securities filings. It has plants in Arkansas, Canada, the United Kingdom, Germany, France and the Philippines."

Link: https://charlotteledger.substack.com/

Edited February 10, 2020 by QCxpat
add link to Charlotte Ledger

[SydneyCarton]

1 hour ago, QCxpat said:

Today's Charlotte Ledger - News In Brief - New corporate HQ 

"Glatfelter, a publicly traded supplier of engineered materials with $928M in annual revenue, is moving its headquarters to Charlotte from York, Pa., in mid-2020, the company said last week:  “Charlotte provides enhanced access to a larger pool of critical resources and talent for future growth, and the Carolinas are a leading hub for the broader nonwovens industry. Additionally, being near a premier airport like Charlotte Douglas International allows for easier and more efficient business travel.” It is unclear where Glatfelter is moving and how many headquarters employees it has. The company had about 2,600 workers worldwide in December 2018, according to securities filings. It has plants in Arkansas, Canada, the United Kingdom, Germany, France and the Philippines."

Link: https://charlotteledger.substack.com/

Hopefully, they'll need enough space to start LU4.

[Hushpuppy321]

Just now, SydneyCarton said:

Hopefully, they'll need enough space to start LU4.

Me too but I’m not so sure.  Even though I support every HQ that would choose to relocate to the QC I researched their current HQ in York, PA and it’s about 70,000sf in a low rise campus style site.  I attached picture from google earth.  Not sure if they’d be enough to anchor a new Tower at LU.  I’d be surprised though if they don’t pick a Midtown, Uptown or Southend location though since those areas are on the rise and exciting.

[SydneyCarton]

That makes sense.  Thanks for the information.

They seem to be the classical style.  Pehaps LH can build them a nice neoclassical structure in SouthPark.

Edited February 10, 2020 by SydneyCarton

[CLT2014]

They have 70 employees left at their HQ in York, PA after divesting the business unit that was located there. From the investor call: https://www.fool.com/earnings/call-transcripts/2020/02/06/glatfelter-glt-q4-2019-earnings-call-transcript.aspx

"So, maybe to provide some context, since we divested Specialty Papers in 2018, our local workforce dropped from about 800 to 70 and so, we felt that moving the headquarters to a larger metropolitan area would be another important step as we build the new Glatfelter..."

It sounds like we might be looking at around 100 people coming to Charlotte, if that. 

[KJHburg]

4 hours ago, SydneyCarton said:

That makes sense.  Thanks for the information.

They seem to be the classical style.  Pehaps LH can build them a nice neoclassical structure in SouthPark.

Chapel Hill wins it.   Charlotte Ledger is reporting they will be moving to the Capitol Towers in southpark area.   with 50-60 corporate jobs! 

The Charlotte Ledger

 

@CltLedger

·

UPDATE: Glatfelter will move its corporate HQ into the Capitol Towers building in SouthPark beginning this summer, company spokeswoman tell me. Eventually 50-60 positions, starting with senior executive team + key managers.

[SydneyCarton]

1 hour ago, KJHburg said:

Chapel Hill wins it.   Charlotte Ledger is reporting they will be moving to the Capitol Towers in southpark area.   with 50-60 corporate jobs! 

The Charlotte Ledger

 

@CltLedger

·

UPDATE: Glatfelter will move its corporate HQ into the Capitol Towers building in SouthPark beginning this summer, company spokeswoman tell me. Eventually 50-60 positions, starting with senior executive team + key managers.

That was a good guess by me!

 

[kickazzz2000]

7 hours ago, Hushpuppy321 said:

Me too but I’m not so sure.  Even though I support every HQ that would choose to relocate to the QC I researched their current HQ in York, PA and it’s about 70,000sf in a low rise campus style site.  I attached picture from google earth.  Not sure if they’d be enough to anchor a new Tower at LU.  I’d be surprised though if they don’t pick a Midtown, Uptown or Southend location though since those areas are on the rise and exciting.

Anything is more exciting than York, PA.

 

source:  multiple excruciating trips to visit in-laws

[SydneyCarton]

Charlotte was one of three cities (along with Brooklyn and Austin) considered for the US HQ for Curve, a British IT start-up.  While it didn’t win, it’s pretty impressive that it’s on the radar for this type of IT presence.
 

https://www.google.com/amp/s/www.bizjournals.com/charlotte/news/2020/01/14/how-charlotte-earned-its-spot-as-finalist-for-u-k.amp.html

Edited February 11, 2020 by SydneyCarton

[KJHburg]

in other recent news met a lot of people with Moody's here in Charlotte today.  Most are new hires that were recruited here or were already here and they plan to stay in their temporary offices at Wework for another couple of years while they build it out.  Spoke to an IT guy who moved from the East Bay area of California and he could not have been happier here.  Cost of living, shorter commutes all appealed to him.  90 plus with Moodys now in Charlotte and growing.... 

 

[atlrvr]

Do they have any idea where permanent offices will be?

[KJHburg]

1 minute ago, atlrvr said:

Do they have any idea where permanent offices will be?

no they took over space that Allstate had in Wework at Regions and it was a full floor so they do have room to grow there but no word on future office.  Someone did mention how expensive their space was in NYC as he said they are in the 1 WTC aka Freedom Tower.  

[SydneyCarton]

11 hours ago, KJHburg said:

no they took over space that Allstate had in Wework at Regions and it was a full floor so they do have room to grow there but no word on future office.  Someone did mention how expensive their space was in NYC as he said they are in the 1 WTC aka Freedom Tower.  

The WTC is pretty reasonably priced for new space in NY.  It leases today for $80-100/sf, which is a bargain compared to new space in Midtown.  No one wants a further 15 minute subway ride after riding the train for an hour into Grand Central or Penn.

Moody’s top execs won’t leave NY, but hopefully, a lot more lower level lawyers, accountants, marketing, HR, etc will come to Charlotte.

Edited February 11, 2020 by SydneyCarton

[Rufus]

I can say from my sources that the major credit rating companies (Fitch, Moody's, and S&P) are consolidating their offices. I have one friend at Fitch who is moving from the Financial District up to the Hearst Tower in Hells Kitchen to be closer to their owner, and I work in the S&P Building downtown, and they have been consolidating their offices here too. So, it's either consolidate in NYC, or find cheaper space outside of the city. 

[KJHburg]

Looks like a major Chinese manufacturer is looking to set up its first US plant in Concord at the old Phillip Morris site.  This would be the 2nd employer if it comes to fruition after Carvana's regional operation there which by the way is under construction.  I think it seems to be paying off taking down the old plant as the interest seems to be much stronger.  

From a subscriber article in the CBJ

""Under the code name Project Grand, it calls for 700,000 to 800,000 square feet of development on a 60-acre site at 2321 Concord Parkway South, part of The Grounds at Concord, the new name of the former cigarette plant. The project represents an $86 million investment and would create 256 jobs with an average wage of $42,525, according to city documents. It seems likely that GoldenHome, a China-based cabinet manufacturer, is the company behind Project Grand. A description of the company filed in public documents matches the company's description from the GoldenHome website verbatim: "Project Grand is a professional provider of high-end integrated kitchen cabinets, appliance, and customized furnishings including closet systems, vanity suites, and interior doors. Project Grand specializes in R&D, manufacturing, sales, installation, and services of integrated kitchen cabinets and customized furnishings."""

https://www.bizjournals.com/charlotte/news/2020/02/11/cabinetry-manufacturer-proposes-86-million-campus.html

[J-Rob]

Does anyone else come to UP nearly daily expecting to finally see an expansion or relocation announced?  I know we have been spoiled.  I totally get Honeywell and Truist in the same year was unprecedented, to a certain extent, for a Charlotte sized market.  But... We had so many rumors flying around back around Oct/Nov I thought for sure something BIG was in pipeline.

Edited February 28, 2020 by J-Rob

[Richhamleigh, DC]

50 minutes ago, J-Rob said:

Does anyone else come to UP nearly daily expecting to finally see an expansion or relocation announced?  I know we have been spoiled.  I totally get Honeywell and Truist in the same year was unprecedented, to a certain extent, for a Charlotte sized market.  But... We had so many rumors flying around back around Oct/Nov I thought for sure something BIG was in pipeline.

Getting Honeywell and Truist in the same year is unprecedented for ANY market.

[Guest]

56 minutes ago, J-Rob said:

Does anyone else come to UP nearly daily expecting to finally see an expansion or relocation announced?  I know we have been spoiled.  I totally get Honeywell and Truist in the same year was unprecedented, to a certain extent, for a Charlotte sized market.  But... We had so many rumors flying around back around Oct/Nov I thought for sure something BIG was in pipeline.

Patience grasshopper 

[TheOneRJ]

21 hours ago, J-Rob said:

Does anyone else come to UP nearly daily expecting to finally see an expansion or relocation announced?  I know we have been spoiled.  I totally get Honeywell and Truist in the same year was unprecedented, to a certain extent, for a Charlotte sized market.  But... We had so many rumors flying around back around Oct/Nov I thought for sure something BIG was in pipeline.

That’s because certain users here claim to be in the know with future relocations but can only provide “soon” otherwise they’ll “get in trouble” when in reality all they have is early access to building permits for tenants they pull out of a very generalized hat  

Edited February 29, 2020 by TheOneRJ

[15895]

10 minutes ago, TheOneRJ said:

That’s because certain users here claim to be in the know with future relocations but can only provide “soon” otherwise they’ll “get in trouble” when in reality all they have is early access to building permits for tenants they pull out of a very generalized hat  

Those users have been right a lot of times though. Even citing the tenants over the past many years.  I thought the Bank of America rumors were bull for legacy union. But it was true.

 

if you want a website where it’s posters who check the local Business Journal daily and copy and paste local articles, there’s other sites. This one is good for in depth information and much earlier than otherwise reported in the media. I read local media daily so I don’t really need a website that just copy’s and paste the CBJ

Edited February 29, 2020 by AirNostrumMAD

[SoDoSoPa]

28 minutes ago, TheOneRJ said:

That’s because certain users here claim to be in the know with future relocations but can only provide “soon” otherwise they’ll “get in trouble” when in reality all they have is early access to building permits for tenants they pull out of a very generalized hat  

I think that may be true for new construction/development, but normally rumors or "leaked" information about expansions and relocation comes from employees. 

When companies start to offer certain teams relocation packages or hiring doubles for particular city, workers at the company and in the industry in general start to take notice and talk. 

[TheOneRJ]

2 hours ago, AirNostrumMAD said:

Those users have been right a lot of times though. Even citing the tenants over the past many years.  I thought the Bank of America rumors were bull for legacy union. But it was true.

Educated guesses aren’t too difficult to pull off. 

[Guest]

3 hours ago, TheOneRJ said:

That’s because certain users here claim to be in the know with future relocations but can only provide “soon” otherwise they’ll “get in trouble” when in reality all they have is early access to building permits for tenants they pull out of a very generalized hat  

Actually it almost never comes from building permits, people just aren't that blatant anymore. Bank of America to legacy came from brokers talking too loudly. Almost all of it comes from that, people not keeping secrets.

And also tips. Theres so many things that could be posted on here, that haven't. I get so many tips. 

Edited February 29, 2020 by Guest