The Good News Report

[KJHburg]

From CBRE 1st Quarter Office Market report which is basically in line with JLL (their numbers are different slightly) but they mention this.

""Economic developers at the Charlotte Chamber report that they are busier than ever. They have been working with several large users looking to relocate to Charlotte and confirm observations regarding the attractiveness of creative office and the resurgence of the Class B market""

Like the word several 

download your own copy here https://www.cbre.us/research-and-reports/Charlotte-Office-MarketView-Q1-2018

[Missmylab4]

Just not AllianceBernstein 

[KJHburg]

Well any hints on these "several" big prospects if AllianceBernstein is going to Nashvegas?   Somebody and something must be afoot as Lincoln Harris is not leased any single floor tenants to their north tower of Capitol Towers.  I think they are holding it out for whole building tenant.   The south tower became a multitenant building but something tells me LH is holding this tower for a full building or most of building tenant.  @Missmylab4 any comments on that? 

[atlrvr]

Supposedly WeWork is adding a second Uptown location at First Citizens Plaza.

[KJHburg]

Lincoln Harris, according to Cushman Wakefields report, leased  Albemarle Corporation  141,000 sq ft in north tower of Capitol Towers, the vacant one.  They lease like 50,000 sq ft now  maybe a little more in the south tower which means this is a big jump in space and has to mean new jobs for Charlotte.  LH holds its cards close as we all know.

http://www.cushmanwakefield.com/en/research-and-insight/unitedstates/charlotte-office-snapshot/

Download your office market report above and this in line with JLL report about how the office market is performing which is great.   Office absorption according to their report 238,000 sq ft (all these Commercial firms count space and absorption a little different) but still very positive. 

Also the warehouse market the unsung mostly hidden market here in Charlotte is on FIRE.  First quarter absorption of warehouse space almost 900,000 sq ft.  and guess which market is the busiest in the last 12 months Cabarrus County (which York County use to be the leader keeping the jobs in NC)   Remember we store and distribute  Bic pens and lighters, avocados, contact lenses,  flooring, not to mention the Amazon warehouses to name a few recent leases. 

http://www.cushmanwakefield.com/en/research-and-insight/unitedstates/charlotte-industrial-snapshot/

 

Edited April 23, 2018 by KJHburg

[KJHburg]

On ‎4‎/‎22‎/‎2018 at 9:14 PM, KJHburg said:

Lincoln Harris, according to Cushman Wakefields report, leased  Albemarle Corporation  141,000 sq ft in north tower of Capitol Towers, the vacant one.  They lease like 50,000 sq ft now  maybe a little more in the south tower which means this is a big jump in space and has to mean new jobs for Charlotte.  LH holds its cards close as we all know.

Business Journal just confirmed this and they will be leasing 141,000 sq ft in north Capitol Towers to accommodate 350 people. Moved here from Baton Rouge with  120 jobs in 2015.  They say they will need the space by 2020 to accommodate their anticipated 350 people.  Another Charlotte job expansion. 

Subscriber article https://www.bizjournals.com/charlotte/news/2018/04/24/charlotte-headquartered-company-to-take-six-floors.html?ana=e_du_prem&s=article_du&ed=2018-04-24&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1524597656&j=81203231

[KJHburg]

Charlotte ranked in the top 10 best places to start a business in 2018 according to WalletHub https://wallethub.com/edu/best-cities-to-start-a-business/2281/#main-findings#new_tab

[SgtCampsalot]

1 hour ago, KJHburg said:

Charlotte ranked in the top 10 best places to start a business in 2018 according to WalletHub https://wallethub.com/edu/best-cities-to-start-a-business/2281/#main-findings#new_tab

See this is interesting. Great place to start a business [as long as it is not a small brick-and-mortar store/shop, because we don't have enough small storefronts in old urban districts]. So this is geared toward startups? Etc?

[KJHburg]

On 4/20/2018 at 4:27 PM, atlrvr said:

Supposedly WeWork is adding a second Uptown location at First Citizens Plaza.

I can confirm this and on a floor with a balcony so I think that might be high up like under the  Passport offices 

Edited May 2, 2018 by KJHburg

[KJHburg]

NC is the 3rd best state for new business (tied with SC) according to Chief Executive magazine.  https://chiefexecutive.net/best-worst-states-business-2018/

[KJHburg]

Wells Fargo Championship was a great success and Johnny Harris was smiling!  According to what CEO Tim Sloan said to the Golf Channel looks like Wells will sign on to extend sponsorship .  The players like this tournament as much as the fans do.  It also showcases Charlotte very positively. 

https://www.bizjournals.com/charlotte/news/2018/05/07/local-organizers-pleased-as-wells-fargo.html?ana=e_me_set1&s=newsletter&ed=2018-05-07&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1525699164&j=81434291

This tournament was big news down under as well from the Sydney Morning Herald https://www.smh.com.au/sport/golf/day-almost-bags-an-ace-on-way-to-wells-fargo-win-20180507-p4zdqx.html

I really liked the new Wells Fargo ads "Earning Back your Trust"  I am just a customer but who have many friends who work among the 25,000 employees they have here in Charlotte.  I give them kudos for hitting the issue right on.  Unless I have forgotten no other bank did anything like this (explaining how they were wrong) in any kind of national campaign.  And there was some grievous problems with other big banks based here and in  NYC.      Watch the ad here    https://www.youtube.com/user/wellsfargo

Edited May 7, 2018 by KJHburg

[KJHburg]

Forbes Magazine says Charlotte is the 5th best place for jobs this year

https://www.forbes.com/pictures/5aeb741fa7ea436b547c2f66/no-5-charlotte-concord-ga/#64168d385967

https://www.bizjournals.com/triangle/news/2018/05/08/charlotte-raleigh-rank-high-on-forbes-best-cities.html?ana=e_ae_set1&s=article_du&ed=2018-05-08&u=oAaDx%2B74FoP4qOJ%2By4AU6dhJPpc&t=1525817858&j=81467951 

Business Journal article above about it. 

[KJHburg]

NC has 2nd record tourist year in a row.  2017 was a record on top the record 2016 year.  and guess who is #1  in the state?  Charlotte Mecklenburg.    https://edpnc.com/north-carolina-tourism-supports-record-employment-visitor-spending-2017/

 

[15895]

4 minutes ago, KJHburg said:

NC has 2nd record tourist year in a row.  2017 was a record on top the record 2016 year.  and guess who is #1  in the state?  Charlotte Mecklenburg.    https://edpnc.com/north-carolina-tourism-supports-record-employment-visitor-spending-2017/

 

Tourism.... bankers. Glad to see BofA and Wells pumping folks to Charlotte. (I have to assume our tourism is mostly convention center and business related)

[KJHburg]

Just now, AirNostrumMAD said:

Tourism.... bankers. Glad to see BofA and Wells pumping folks to Charlotte. (I have to assume our tourism is mostly convention center and business related)

It is but we do get some tourists and they are coming en masse this month for the 2 major races, the Allstar and the 600.  Plus the Panthers and sometimes Hornets attract overnight guests as do our many concerts.   Charlotte in my opinion and I travel a whole LOT is a great weekend or 2-3 night destination.  Plenty to do here.  But yes most of ours is business travel and then secondly conventions and meetings.  My friends from eastern NC were here for a meeting stayed 3 nights at the University Place Hilton.  They ate out a lot and shopped and shopped. 

 

[CharlotteWkndBuzz]

I want to host more NFC Championship games in Bank of America Stadium in Uptown Charlotte (for many years to come)...that's my favorite tourism generator!  

[CarolinaDaydreamin]

2 hours ago, KJHburg said:

It is but we do get some tourists and they are coming en masse this month for the 2 major races, the Allstar and the 600.  Plus the Panthers and sometimes Hornets attract overnight guests as do our many concerts.   Charlotte in my opinion and I travel a whole LOT is a great weekend or 2-3 night destination.  Plenty to do here.  But yes most of ours is business travel and then secondly conventions and meetings.  My friends from eastern NC were here for a meeting stayed 3 nights at the University Place Hilton.  They ate out a lot and shopped and shopped. 

 

NASCAR is dying for 1. Speedway isn't in Meck. for 2

[KJHburg]

^^^Nascar Hall of Fame is and plenty of visitors stay in the university area.  Come up to University area on April 19 Allstar race or the 600 on Sunday May 27.  It is still attracts more fans than a Panthers home game.  Plus a couple of the NASCAR teams are in Mecklenburg like Joe Gibbs in Huntersville. 

and yes I forget to mention Speed Street which attracts 1000s to uptown Charlotte and they are heading  to restaurants and bars for sure. 

Edited May 9, 2018 by KJHburg

[Cadi40]

Charlotte is definitely gaining regional tourism. With Carowinds, NASCAR HOF, Area Lakes, Conventions, Concerts, Great Wolf Lodge, Southpark, Concord Mills, Etc. All help that. Are we Orlando by any means? No. But, We are a good 2-3 day weekend trip. 

[J-Rob]

^^^^I am not much of a race fan, but Speed Street is Uptown.  Seems like a pretty decent tourism dollar generator to me, even if I mostly avoid it.  NASCAR isn't as popular as it used to be, but unless they start having issues covering debt obligations it won't go anywhere.  Sounds like the Frances might sell anyway, which could bring a cash infusion and some new ideas.

http://600festival.com/speed-street-about/

Back to other Good News, does anyone have any ideas what other recruitment Charlotte might be involved in?  I have seen several comments that Charlotte might have some big things in the pipeline even though AllianceBernstein didn't pan out, but I haven't heard what specifically could be in pipeline.

Edited May 9, 2018 by J-Rob
spelling

[atlrvr]

Probably not one of the big projects in the pipeline, but this just happened:

https://www.daytondailynews.com/business/breaking-evenflo-moving-headquarters-out-miamisburg/wwjaATVgjIHMRNLHjjvSTJ/

[KJHburg]

5 minutes ago, J-Rob said:

Back to other Good News, does anyone have any ideas what other recruitment Charlotte might be involved in?  I have seen several comments that Charlotte might have some big things in the pipeline even though AllianceBernstein didn't pan out, but I haven't hear what specifically could be in pipeline.

Not heard any names  yet but despite Amazon nationwide circus most companies are very stealth in their search.  Does anyone remember hearing about Allstate's 2250 job announcement before they did it?  I don't remember anyone talking about it and that was Charlotte's single biggest announcement in decades.   That is more typical of most new project searches.  I worked for econ development agency many years ago and things were always top secret. People checking into hotels under assumed names, coming for visits and using only first names and no company names etc.

Charlotte and NC are very attractive due to our corporate tax rates, low cost of living, labor force that keeps growing, real estate costs, airport, transportation etc.   We will get our fair share for sure.  

[KJHburg]

Here is a story from Dayton Business Journal about Evenflo 

https://www.bizjournals.com/dayton/news/2018/05/08/evenflo-to-move-hqout-of-dayton-region.html

Given Boston's high cost of housing wonder how many will choose Charlotte  over Beantown?   

Edited May 9, 2018 by KJHburg

[sakami]

7 minutes ago, KJHburg said:

Here is a story from Dayton Business Journal about Evenflo 

https://www.bizjournals.com/dayton/news/2018/05/08/evenflo-to-move-hqout-of-dayton-region.html

Given Boston's high cost of housing wonder how many will choose Beantown over Charlotte?  Don't they own Britax a Ft Mill based baby car seat maker?  

Nope Britax is owned by Nordic Capital, Evenflo falls under the GoodBaby International umbrella. 

[rancenc]

Good news on the political front.  State Senator Bob Rucho lost his bid for reelection.  For those who don't remember, he was the buffoon who lead the charge in the state house to extract the airport from the City of Charlotte control and establish a regional governing board to run it!

http://www.newsobserver.com/news/politics-government/article210722519.html