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NovaRaleigh

RBC Plaza

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The smallest units have 862 square feet, so if they are asking $240K for these units, it works out to be $278 per square foot. One one hand that is a really reasonable rate for new construction inside the beltline. On the other hand, the only remotely comparable experience in central North Carolina is at West. So, since this is a relatively exclusive experience, I think $278 a foot is an awesome deal. These units really ought to be in the upper 300's per foot, to be honest.

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Good news for RBC. No more office space.

RBC Office Space

Does anyone know the current Class A office space vacancy rate in downtown?

Not sure about Class A, but the last time I checked Triangle Business Journal they had the combined A, B, and C around 5.8%?

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RBC will be acquired by PNC

rbc-0510_G6D2MLEEM.1+IMG_REALDEALS06.BZ.01271_1_1_9613334D.JPG.embedded.prod_affiliate.156.jpg

Its official, Raleigh will lose RBC :( Pittsburgh based PNC is buying RBC. Winston-Salem based BB&T came close to purchasing RBC as well

http://www.myfox8.com/news/wghp-story-pnc-rbc-us-110620,0,4491923.story

http://www.newsobserver.com/2011/06/20/1286382/pnc-confirms-plan-to-buy-rbc-bank.html

This has been a triple whammy for Raleigh. First the city loses Progress Energy, then Capital Bank headquarters and now this. The News Observer reported this would likely mean loss of jobs at RBC's downtown headquarters. Officials said the loss of jobs would be much worse If BB&T had acquired RBC because Raleigh is so close to the Triad. Most operations would have been moved to BB&T corporate headquarters tower in downtown Winston-Salem.

I guess the RBC Center will become the PNC Center.

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Raleigh got pants again. I don't think they realize that the rest of the country comes to poach all their businesses (or maybe they do and just don't care).

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Raleigh got pants again. I don't think they realize that the rest of the country comes to poach all their businesses (or maybe they do and just don't care).

What other City did Raleigh lose out to? I know Progess to Charlotte, & RBC to Pittsburgh. I don't remember reading about another HQ loss. Usually it's in the Charlotte Observer and Charlotte Business Journal if another NC/SC has a major job loss or gain.

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Raleigh got pants again. I don't think they realize that the rest of the country comes to poach all their businesses (or maybe they do and just don't care).

I'm actually starting to think that they just don't care. So sad...

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I'm actually starting to think that they just don't care. So sad...

Just out of curiosity, what could the city of Raleigh or state for that matter do about mergers with public companies like pnc and duke?

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Just out of curiosity, what could the city of Raleigh or state for that matter do about mergers with public companies like pnc and duke?

Do you mean Progress Energy and Duke Energy? A lot!!!

RBC and PNC, not much!

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Banks go through mergers and acquisitions all the time. It's no fun when you're not on the winning end, but it's commonplace.

Energy companies don't go through quite as many it seems, but it still happens in that industry too.

In the end, Raleigh will be OK. There's an excellent educated workforce to be tapped into and the cost of doing business is low. The city just has to get on the ball in terms of increasing the area's corporate profile and it is one of the most well-positioned cities in the country to do so.

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