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DanRNC

Will Morgan Stanley locate in the Triangle?

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It looks as if business/govt. leaders are trying to recruit investment giant Morgan Stanley to the Triangle.

Story

This is really important to the diversity of the area's economy.

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It has been reported today in the TBJ that Morgan Stanley is considering the Triangle for a new operations center.

TBJ Article

It would make sense for them to locate here, seeing as how two of their biggest competitors in the financial services industry, Fidelity Investments and Credit Suisse, are moving to the area. It would also create a finacial services cluster that would definitely put this area on the map in terms of the global financial industry and would almost certainly lead to other relocations and expansions.

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It was odd that John Mack just gave a decent sum of money ($5 million) to Shaw U. recently out of nowhere. Could the PEIII site be aimed at this project? It has been kind of weird how this project has been progressing a lot quicker than any other project ever in Raleigh.

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It was odd that John Mack just gave a decent sum of money ($5 million) to Shaw U. recently out of nowhere. Could the PEIII site be aimed at this project?

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either would be a chance to have a signature structure. I really hope, though, they don't go the way of their competitors and kill more trees to build a spawling campus in RTP.

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^ I don't think there is all that much more land available in RTP especially if Shire is scouting a location there-that project would most likely take up several hundred acres.

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Golden Corral is not bad at all. The food is decent , and the price is spot on. :thumbsup:

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IF they pick the Triangle, there's still plenty of land left in south RTP along the newly completed Louis Stephens Drive and South Loop Road. I'm probably going to sound pessimistic here. As much as I'd like to see them downtown, RTP is probably higher profile and carries more clout on the national and international level than do Raleigh or Durham. That's where I'd say they're most likely to land.

In addition, I feel that an "Operations Center" sounds more like something that would wind up in an office park or campus, rather than in a downtown office tower.

I would love to be proven wrong, though!!

Open space in RTP:

RTPOverallMap2006.jpg

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Perhaps the 20-story tower Kane is planning at North Hills East? The rendering certainly showed a building that was designed with a purpose in mind. Probably not big enough on its own, I'll admit, but I remember Kane saying that there would be several large office buildings there.

On the other hand, MS has cash to burn and an image to protect. If they're really bringing several hundred jobs with them, it's hard to imagine that they would do it quietly in the suburbs. Downtown is the place to be right now and they're a big-time company - it's not hard to do the arithmetic there.

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On the other hand, MS has cash to burn and an image to protect. If they're really bringing several hundred jobs with them, it's hard to imagine that they would do it quietly in the suburbs. Downtown is the place to be right now and they're a big-time company - it's not hard to do the arithmetic there.

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I noticed that on MS website that they are having there annual meeting of shareholders on Tuesday, April 10th at 9:00 am ET. I wonder if they will be deciding anything about there expanion plans then?

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I noticed that on MS website that they are having there annual meeting of shareholders on Tuesday, April 10th at 9:00 am ET. I wonder if they will be deciding anything about there expanion plans then?

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I would think that an operation center is an internal decision where a shareholders meeting covers large financial movement of the company. I doubt the Executives want shareholders involved in detailed decision making.

Most executives want shareholders to sit far away, shut up and stay out of their business decisions.

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The shareholders have no part in minutia like opening offices.

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Looks like we will hear some news on this soon and it should be good. Can't tell you where they will locate but it may not be RTP.

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Sounds interesting; I still expect a suburban location, though, for this type of operation. Perhaps Brier Creek Town Center, Perimiter Park, or Imperial Center. North Hills East may also be a possibility?

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Looks like we will hear some news on this soon and it should be good. Can't tell you where they will locate but it may not be RTP.

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All I know is that the facility will be somewhere in the Triangle but have absolutely no idea where.

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^Do not know that. I think it will be fall before there are concrete details.

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All I know is that the facility will be somewhere in the Triangle but have absolutely no idea where.

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I was thinking that if Dan is correct and they do not locate in RTP, that opens up the site selection, but probably not by too much. If they locate 1000 employees here, that will require a large contiguous class "A" office space (maybe 100k sf +) that probably does not exist currently in a single, desireable location (others more in tune with the office market may correct me).

Here's my guess based on my limited knowledge of proposed or planned projects in desirable locations (defined by yours truly as near major activity centers):

Site One office tower

PE III/Block B envisioned tower

American Tobacco/Diamondview II (does this 150k sf of space have a planned tenant yet?)

North Hills East (Kane/Duke) planned office tower

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American Tobacco/Diamondview II (does this 150k sf of space have a planned tenant yet?)

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I wonder by "operations center" does that mean a lot of "raised floor frozen computer hardware" space. If that is the case, it will be out in Morrisville or somewhere. Too expensive to put in town. A big Storage SAN and disk array in a data center does not care if it has a windowed office, marble entrance or granite bathrooms . All it needs is plenty of electricity and air conditioning and a raised floor and overhead hangers to guide miles of cable.......and make that easily changeable as they do constant hardware updates. (although many of the raised floor centers have gone to overhead cabling)

JMHO

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