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Honeywell HQ to Charlotte


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9 hours ago, Muggsy01 said:

To be fair this was just one building in a campus. I used to live not too far from there, there are a lot of corporate campuses in that area. It was set back far from the road with its own private road to access. So it wasn’t just that building. Personally I’d rather work in an urban core than a suburban office campus. Ultimately the reason they moved is b/c NJ has the worst business climate (taxes & regulations) in the nation & NC is consistently in the top 3 best. You don’t have to be in/near NYC anymore, I think you’ll see many more companies relocate to the “New South.” Already happening

For basic corporations, that's true.  Anyway, I don’t think that general corporations ever felt compelled to be in metro NY.  During the Industrial Age, Detroit, Cleveland, Pittsburgh, etc were corporate powerhouses.

Anyway, with respect to general corporations,   I think that companies like Verizon or Colgate Palmolive, for example, could be lured away.  It makes no sense for them to occupy 500k sf of space at $135/sf when they could move to Ballantyne, Alpharetta, or Plano, Texas and (1) get space for $25/sf; (2) get massive relocation packages from a new state; and (3) slash their employees' salaries.   That being said, I think that the CEOs and top executives won't want to leave NY, but those making $250k and less would be far better off in NC, Ga, or Tx than in very expensive burbs of metro NY.

Some industries, though, will never leave NY.  Financial services, media (all television networks are based in NY), professional sports HQs (NBA, NFL, MLB, and NHL are all based in NY), consulting/accounting firm HQs (they all want their HQs in global cities like NY, Lon, etc.), tech, pharmaceutical, advertising, fashion, auction houses, etc. will never leave.  Consider, for example, that Google, Facebook, Amazon, Apple, and IBM (which is based in NY) have all recently leased or are currently looking for around 10m sf of space in Manhattan.  

I wonder if the United Nations is in play.  Could you imagine how Charlotte, Atlanta, or Dallas could be transformed if the UN moved to one of those cities?  

Edited by SydneyCarton
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2 hours ago, SydneyCarton said:

 

Wouldn’t be so sure about finance. Alliance Bernstein moved to Nashville for example. You’re right about media though unfortunately. Would improve quality dramatically if they got out of the NYC/DC bubble and spread across the US. I digress though. 
 

I do think the trend of major companies moving to both the Southeast & Mountain West (think Denver, Salt Lake City) will only increase post-pandemic. Honeywell & AB are the canaries in the coal mine. 
 

It’ll slow once COL evens out but that’s going to take a very long time because from experience, what people in NC consider very expensive is still so cheap. I’m coming from NJ, looking for houses right now (though that’s slowed with the pandemic) and your prices and what you get still blows my mind. Ex: A 400k house in the CLT area is 1 million or more in the NYC area. 

Edited by Muggsy01
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25 minutes ago, Muggsy01 said:

Wouldn’t be so sure about finance. Alliance Bernstein moved to Nashville for example. You’re right about media though unfortunately. Would improve quality dramatically if they got out of the NYC/DC bubble and spread across the US. I digress though. 
 

I do think the trend of major companies moving to both the Southeast & Mountain West (think Denver, Salt Lake City) will only increase post-pandemic. Honeywell & AB are the canaries in the coal mine. 
 

It’ll slow once COL evens out but that’s going to take a very long time because from experience, what people in NC consider very expensive is still so cheap. I’m coming from NJ, looking for houses right now (though that’s slowed with the pandemic) and your prices and what you get still blows my mind. Ex: A 400k house in the CLT area is 1 million or more in the NYC area. 

Financial services is never leaving NY.    NY is the global financial hub.  Low and mid-level jobs might be farmed out, but the top jobs will always be in NY.  

In addition, to the UN, could you imagine if Charlotte could lure the NYSE to move to Uptown?  That might shift the balance of power to Charlotte.  It would also result in many cable business networks like Bloomberg and CNBC moving to the QC.  I can just hear Tom Keane saying: "Live from the financial capitals of the world: Charlotte and London!"

P.S.: Alliance Bernstein was a wounded warrior.

 

 

 

Edited by SydneyCarton
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10 hours ago, SydneyCarton said:

Financial services is never leaving NY.    NY is the global financial hub.  Low and mid-level jobs might be farmed out, but the top jobs will always be in NY.  

In addition, to the UN, could you imagine if Charlotte could lure the NYSE to move to Uptown?  That might shift the balance of power to Charlotte.  It would also result in many cable business networks like Bloomberg and CNBC moving to the QC.  I can just hear Tom Keane saying: "Live from the financial capitals of the world: Charlotte and London!"

P.S.: Alliance Bernstein was a wounded warrior.

 

 

 

Wondering out loud if Metro Government moves in Nashville to slash previously promised Local Incentives will cause them to lose businesses in the next 3 to 5 years like Alliance Bernstein or Amazon.  Charlotte could use either or both companies.

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9 hours ago, Hushpuppy321 said:

Wondering out loud if Metro Government moves in Nashville to slash previously promised Local Incentives will cause them to lose businesses in the next 3 to 5 years like Alliance Bernstein or Amazon.  Charlotte could use either or both companies.

doubt they will lose those 2 however companies will take note and go elsewhere.  I think Nashville was in the running for this 1500 jobs expansion Microsoft did in Atlanta but it heading to midtown ATL now.  Companies don't like government going back on their agreements. 

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20 hours ago, SydneyCarton said:

In addition, to the UN, could you imagine if Charlotte could lure the NYSE to move to Uptown?  That might shift the balance of power to Charlotte.  

I mean NYSE is already under the control of a southern company. 

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39 minutes ago, Rufus said:

What's your point, here? 

In terms of companies looking to relocate to CLT from major metros, that's been the case for the last two decades. Charlotte, I feel, is finally coming into its own, and it is paying off in dividends, and I truly think that is because of how the city responded during the last recession. There seemed to be greater civic investment and smart design, and it started showing. I don't doubt that even after this pandemic is over, Charlotte is well positioned to reap benefits similar to Honeywell and other great aspects of the city. 

I'm enjoying a little jest on a rainy day.

Edited by SydneyCarton
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to get back to Honeywell they have 86 jobs open within 25 miles of Charlotte and that may include their Fort Mill operation too.    Honeywell is a great win for Charlotte and will continue to pay off for years and years and hopefully with more local expansions. 

Check them out and you do have to use a mileage range from Charlotte or you get all their openings.

.https://careers.honeywell.com/us/en

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1 hour ago, J-Rob said:

I would be very impatient trying to get out of the parking deck on a daily basis.  I am curious how COVID-19 impacts parking needs going forward.  If companies go to staggered approaches to reduce density (like A/B groups or requiring 2 or 3 days in office each week rather than 5), it theoretically could reduce the need for parking to a certain extent.  Best case scenario for Charlotte would be there is growing demand for office space, with reduced demand for parking.  I think it could happen.  I think many companies will want employees in the office a few days a week just for collaboration and morale, but at reduced density. Feasibly, you could need the same amount of space for a reduced number of employees in office (or maybe just slightly less office space).  Combine that with financial companies potentially moving to Charlotte for lower rent outside of uber dense cities, and it could be a nice recipe for Charlotte.

Reducing density in an office is going to do so little to stop the spread of COVID-19, it almost isn't worth the hassle. It seems like a nice thing to pat ourselves on the back, but unless people don't interact with their co-workers, there will be spread. Interaction is the very reason people benefit from being in the office. If we just build cube bubbles... what's the point of going back in the office?

1. Do you close all the conference rooms? With a 6 foot radius, a 15 person conference room now fits like 3 or 4 people. A 4 person conference room fits 1. If co-workers can't collaborate... why bring them back from working at home? Many workers, especially those that collaborate the most, spend a good amount of time in conference rooms. 

2. Do you close the break rooms and encourage employees to eat lunch alone or go outside? Do you eliminate the microwaves and common area fridge and ask people to go out to eat? 

3. Do you close all collaboration areas / open office space?

4. Do employees essentially report to the office just to spend all day on Zoom anyhow cause you can't get within 6 feet of your co-workers?

5. Are all the white boards removed? Do you remove conference phones and ask people to use their cell phone? 

All these complexities are why many large companies just stay at work from home. Bringing people back to sit in their "cube" bubble just means they have to spend time commuting to sit in isolation at work.

Then, if you aren't going to make changes to conference rooms and break rooms, et... not really sure spreading the cubes out really helps that much. Person coughs inside, droplet gets in the air, and the air conditioning system could potentially push it 20+ feet around the floor. 

Edited by CLT2014
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