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Economic Development - Expansions and Relocations


J-Rob

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This might have been posted before but re-reading this article from January about Principal leasing 103,000 sq ft in the University City area.  I assume that's to house Wells people being currently in CIC being integrated as part of the IRT purchase.

Principal intends to both transition existing Wells Fargo IRT employees to Proximity Park and expand our presence in Charlotte," Schaaf said. "We are exploring a second location and will announce details when finalized. We look forward to growing with Charlotte long-term."

The second location sounds promising, and I'd bet on Uptown or South End.

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^^ Just read that article and that is suprising to me but I can only believe the ability to add 12 floors above the current parking garage is why they would buy it.  They could have 60,000 sq ft floorplates which is just huge for an urban market and maybe Truist might be interested or they know of someone else.  They own the 5/3 Building, Nascar Plaza still having sold Truist (Hearst) and their interest in Gateway Center they co-owned with BofA.    However I forgot they own Bank of America Plaza which is one block over and connected to this deck and this parking might be for their new tenant which could be US Bank which will be squeezed out of Truist Tower.   So I am no longer surprised they bought this deck for I see their logic now for parking and expansion for their next block up BofA Plaza..  BofA is leaving like 15 floors of that tower for their new encampment on S Tryon at Legacy. 

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31 minutes ago, KJHburg said:

^^ Just read that article and that is suprising to me but I can only believe the ability to add 12 floors above the current parking garage is why they would buy it.  They could have 60,000 sq ft floorplates which is just huge for an urban market and maybe Truist might be interested or they know of someone else.  They own the 5/3 Building, Nascar Plaza still having sold Truist (Hearst) and their interest in Gateway Center they co-owned with BofA.    However I forgot they own Bank of America Plaza which is one block over and connected to this deck and this parking might be for their new tenant which could be US Bank which will be squeezed out of Truist Tower.   So I am no longer surprised they bought this deck for I see their logic now for parking and expansion for their next block up BofA Plaza..  BofA is leaving like 15 floors of that tower for their new encampment on S Tryon at Legacy. 

Would this not be a candidate for removal of the deck and a new building on the site?

 

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55 minutes ago, CarolinaDaydreamin said:

Would this not be a candidate for removal of the deck and a new building on the site?

Cousins bought this for the parking income/control. Unfortunately there is no way they tear it down. Best case scenario they build on the part where the circular ramp is (which for reference is smaller than the IC/Carolina Theater site).

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I dont think they would tear it down but they can add up 10 floors on top of the garage which would would be huge 60,000 sq ft floors.  There are already 3 huge mega floors atop the deck with office space now.  I think they bought it for that reason and for parking for their BofA Plaza they now own. 

I have been saying this about movement out of dense northeastern cities and even the Fed regional president thinks so and to places like Charlotte.

https://businessnc.com/richmond-federal-reserve-bank-president-sees-n-c-gains-as-pandemic-pushes-business-out-of-biggest-cities/

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If they're buying the BB&T parking garage for the Bofa Plaza what if any impact does that have on the AutoPark at 4th and college adjacent to Packard Place?  I recall  that garage is "the" parking for 101 South Tryon.  4th and Church is brutal and could use anything. 

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45 minutes ago, CriticalT said:

If they're buying the BB&T parking garage for the Bofa Plaza what if any impact does that have on the AutoPark at 4th and college adjacent to Packard Place?  I recall  that garage is "the" parking for 101 South Tryon.  4th and Church is brutal and could use anything. 

I would expect all the parking decks on Church are consolidated into one large modern deck, and the parcels redeveloped. Theres already movement in this direction.

5 hours ago, KJHburg said:

I dont think they would tear it down but they can add up 10 floors on top of the garage which would would be huge 60,000 sq ft floors.  There are already 3 huge mega floors atop the deck with office space now.  I think they bought it for that reason and for parking for their BofA Plaza they now own. 

I have been saying this about movement out of dense northeastern cities and even the Fed regional president thinks so and to places like Charlotte.

https://businessnc.com/richmond-federal-reserve-bank-president-sees-n-c-gains-as-pandemic-pushes-business-out-of-biggest-cities/

The spiral can support 12 floors and 80k sq feet. Likely only good for a hotel or maybe office...

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  • 3 weeks later...

New Hampshire-based wireless network firm adds company that specializes in serving senior living communities. Single Digits, the Bedford-based provider of scalable wireless network solutions, has completed another acquisition, this time of Inviacom, a firm that installs and manages comprehensive Wi-Fi and connectivity services for senior living communities across the U.S. The acquisition, said Single Digits CEO Stephen Singlar, will add over 30 more Wi-Fi specialists to its team as well as five more field

https://www.nhbr.com/single-digits-picks-up-another-acquisition/

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Charlotte, North Carolina’s Segra has completed the NorthState acquisition — gaining a high-speed bandwidth services provider in Segra’s. home state.

The deal was first announced in December 2019. This acquisition will help ensure the scale, reliability, and strength of Segra’s fiber network and operations, the buyer said.

Segra is one of the largest fiber infrastructure bandwidth companies in the Eastern United States. By adding NorthState’s near-3,000 mile fiber network, Segra continues its expansion within the region. The company’s network connects more than 10 thousand locations and six data centers along the eastern seaboard.

https://www.channele2e.com/investors/mergers-acquisitions/segra-completes-northstate-fiber-optic-network-acquisition/

Edited by Ric0_0
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1 hour ago, KJHburg said:

I am glad the Charlotte Regional Business Alliance is on this new strategy.  Pharma is coming home to the USA and NC stands to benefit greatly.  

https://charlotteregion.com/blog/2020/05/27/clt-alliance-blog/supply-chain-and-reshoring-two-new-economic-recruitment-strategies/

NC is a pharma powerhouse.

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  • 2 weeks later...
4 minutes ago, tarhoosier said:

"like"? Perhaps I would feel better if the quote was "such as".

(things that bother me. Followed soon by: using the word "only" before a verb when the noun following several words later is the word to be modified. This post brought to you by Mrs Warren, my eighth grade teacher.)

You know economic development relocations are top secret except for Amazon's crazed process.  I suspect HQs and financial firms both in Charlotte's wheelhouse. 

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  • 2 weeks later...

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