The Good News Report

[Dale]

On ‎10‎/‎5‎/‎2018 at 12:19 AM, Nick2 said:

Florida, the state where the further north you go, the more southern it gets. 

South-shame is typically strong on forums like this. On one very popular page I've seen a strong movement to exclude Virginia, KY, TX, OK and even Florida from the South.

[Nick2]

@KJHburg When was the last time Charlotte didn't rank in the top ten for these kind of rankings? Start ups, economic/job growth, net migration, millennials, microbreweries, etc. CLT is consistently in the top of the country and it's awesome.

@Dale I know what you mean. There are different ways to demarcate the south. Geographic, culture, which side they fought on in the civil war. But then are you talking about the south, deep South, or southeast. For me, I think it includes Texas, ok, Missouri, west Virginia, Virginia and everything south and east of those states. Maryland is included if you don't include the areas in the DC metro.

I personally look at it from a culture perspective.

Sweet tea, fried chicken, sunshine, college sports, and church on Sundays.

Edited October 8, 2018 by Nick2

[KJHburg]

1 hour ago, Nick2 said:

@KJHburg When was the last time Charlotte didn't rank in the top ten for these kind of rankings? Start ups, economic/job growth, net migration, millennials, microbreweries, etc. CLT is consistently in the top of the country and it's awesome.

@Dale I know what you mean. There are different ways to demarcate the south. Geographic, culture, which side they fought on in the civil war. But then are you talking about the south, deep South, or southeast. For me, I think it includes Texas, ok, Missouri, west Virginia, Virginia and everything south and east of those states. Maryland is included if you don't include the areas in the DC metro.

I personally look at it from a culture perspective.

Sweet tea, fried chicken, sunshine, college sports, and church on Sundays.

We have been on the top of many of these such lists for the last decade but we need to keep making sure we are so every list and ranking is important.

>>Jacksonville FL largest city in south Georgia.   I would say Florida is very southern north of I-4 excluding Orange County home of Orlando.

[jednc]

8 hours ago, Dale said:

South-shame is typically strong on forums like this. On one very popular page I've seen a strong movement to exclude Virginia, KY, TX, OK and even Florida from the South.

 

3 hours ago, Nick2 said:

@KJHburg When was the last time Charlotte didn't rank in the top ten for these kind of rankings? Start ups, economic/job growth, net migration, millennials, microbreweries, etc. CLT is consistently in the top of the country and it's awesome.

@Dale I know what you mean. There are different ways to demarcate the south. Geographic, culture, which side they fought on in the civil war. But then are you talking about the south, deep South, or southeast. For me, I think it includes Texas, ok, Missouri, west Virginia, Virginia and everything south and east of those states. Maryland is included if you don't include the areas in the DC metro.

I personally look at it from a culture perspective.

Sweet tea, fried chicken, sunshine, college sports, and church on Sundays.

 

1 hour ago, KJHburg said:

We have been on the top of many of these such lists for the last decade but we need to keep making sure we are so every list and ranking is important.

>>Jacksonville FL largest city in south Georgia.   I would say Florida is very southern north of I-4 excluding Orange County home of Orlando.

I wanted to include all three of you in my response...

I do understand that you can define the South culturally, or geographically. I'm just not sure it's wise or necessary to separate the two. Culture in the South has changed over time. To say south Florida or DC can't be part of the south because they are culturally different from Alabama makes no more sense than to say they can't be "Northern" because they aren't like Pennsylvania. We are warped into thinking it's ok for different areas of the North to be diverse and different from each other but the South must fit a narrow definition or it can't be the South. If you don't buy that then...

All of Florida, Ga, SC, NC, Va, Tenn, AL, MS, LA, TX, AR were part of the Confederacy. In addition, MD, KY and MO were slave states that were not allowed to secede for strategic reasons. They certainly considered themselves part of the South.

Washington, DC was chosen to be the capital of the country through a compromise between Jefferson (who wanted the capital moved from NY to the South) and Hamilton (who wanted Jefferson's support for a national bank). DC was created to be in the South...

The only reason I can see that anyone would intentionally fight this historic definition is they have issues with the South and can't come to terms that their ideas about certain places (So. Fla, MD and DC) don't jibe with their ideas about the South. It's not a personal definition after all.

I don't want this to come off as a rant toward any of you. I'm just following up with more info regarding my earlier comment. I don't necessarily think any of you are True South Deniers! =)

[Trickbot]

16 minutes ago, jednc said:

All of Florida, Ga, SC, NC, Va, Tenn, AL, MS, LA, TX, AR were part of the Confederacy. In addition, MD, KY and MO were slave states that were not allowed to secede for strategic reasons. They certainly considered themselves part of the South.

Good points in general. But not all of VA, the north west counties of VA were totally against succession and formed the state of WV which was formedand admitted to the union before VA proper was readmitted 

[jednc]

4 minutes ago, Trickbot said:

Good points in general. But not all of VA, the north west counties of VA were totally against succession and formed the state of WV which was formedand admitted to the union before VA proper was readmitted 

Yes, you are correct and I completely agree. Which is why I don't include WV as part of the South even though culturally some may argue they are similar.

[KJHburg]

ULI and PriceWaterhouseCoopers released their 2019 real estate markets to watch and Charlotte is ranked #9 overall in the USA

Here is a summary story from the Business Journal

https://www.bizjournals.com/charlotte/news/2018/10/10/ranked-see-how-charlotte-stacks-up-among-top-10.html?ana=TRUEANTHEMTWT_CH&utm_campaign=trueAnthem:+Trending+Content&utm_content=5bbe615704d3014bdde2e72f&utm_medium=trueAnthem&utm_source=twitter

Here is the complete 100+ page report market details start on page 40 or so

https://www.pwc.com/us/en/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2019.pdf

This is a highly regarded report that looks at lots of things like population growth, prices, real estate development etc. 

Edited October 10, 2018 by KJHburg

[CTiger]

19 hours ago, KJHburg said:

ULI and PriceWaterhouseCoopers released their 2019 real estate markets to watch and Charlotte is ranked #9 overall in the USA

Here is a summary story from the Business Journal

https://www.bizjournals.com/charlotte/news/2018/10/10/ranked-see-how-charlotte-stacks-up-among-top-10.html?ana=TRUEANTHEMTWT_CH&utm_campaign=trueAnthem:+Trending+Content&utm_content=5bbe615704d3014bdde2e72f&utm_medium=trueAnthem&utm_source=twitter

Here is the complete 100+ page report market details start on page 40 or so

https://www.pwc.com/us/en/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2019.pdf

This is a highly regarded report that looks at lots of things like population growth, prices, real estate development etc. 

This would be much better news if  Raleigh/Durham, Orlando, Nashville, and Austin weren't all ahead of Charlotte.  Still, this paints a pretty bright picture for the overall region:

Quote

“Carolina markets continue to see a population influx . . . a lower cost of living and employers see the quality of the labor force.”

And I thought this was a curious line, considering I feel like I keep hearing that Charlotte's office occupancy rates are still high, and considering there is a huge amount of square footage coming with the Legacy Union buildout:

Quote

Opportunities vary across the region’s markets. Atlanta, suburban Maryland, and Charlotte are seeing a slowdown in office activity as the markets wait for demand to catch up with new supply.

 

[KJHburg]

Now CNBC says Charlotte along with Raleigh and Austin are 3 best cities for jobs that are still affordable. 

https://www.cnbc.com/2018/10/04/3-fast-growing-us-cities-where-housing-prices-are-still-affordable.html?__source=twitter|makeit+

[KJHburg]

From a subscriber article in the Business Journal today

""Campbell Soup Co. (NYSE: CPB) is leasing space at a 525,000-square-foot, build-to-suit distribution facility that Charlotte-based Beacon Partners is developing, both the developer and company confirmed Monday. The $25 million-plus center, called Project Industrial in construction permit documents, will be developed on a 33.8-acre site at 10230 Pineville Distribution St.""    that is a lot of snack foods (they own Synder Lance of course) and no word on job numbers. 

https://www.bizjournals.com/charlotte/news/2018/10/15/campbell-soup-co-to-open-large-distribution.html

[KJHburg]

Very positive report from CBRE about the Charlotte office market and its vacancy of 7.1% as they calculate it.   2.7 million sq ft of space under construction 65% preleased!  

This is why we need Spectrums Southend project,  modern Capitol Tower 3, the new Toringdon 7 and the mystery 11 story Ballantyne building that had its permits pulled.  And of course Legacy 2 tower. 

This note from their report means lots of future growth and the reason someone like Spectrum will go spec on their Southend buildings.

""During Q3 leasing activity in the Charlotte office market increased in volume and tenants are actively looking for an additional 2.5 million sq. ft., indicating a capacity for significant growth in coming quarters. Despite modest absorption of just over 108,000 sq. ft., activity was robust."     KJ added the bold type. 

Download your copy of the report here https://www.cbre.us/research-and-reports/Charlotte-Office-MarketView-Q3-2018

[Hushpuppy321]

Seems like Charlotte really has a lot going for it as far as the local economy is concerned.  Just seems like we're lagging behind in High Rise construction.  Austin, TX is also a booming city but they seem to leave Charlotte in the dust as far as planned construction.

[KJHburg]

Another Very positive report from Colliers on the Charlotte metro office market.  According to their count (all firms do it a little differently) Charlotte absorbed a positive 560xxx sq ft of office space.   Very positive and going into 2019 should be very good as the Legacy tower will be completed. 

https://www2.colliers.com/en/research/charlotte/2018-Q3-Office-Charlotte-Report

and you can download your own copy from there.   No wonder Spectrum wants to go spec or without tenants preleased as the market is strong and hopefully we will see Legacy 2, Spectrum South End and Capitol Towers 3 all start in the first half of 2019. 

[atlrvr]

Cousins Properties had their quarterly earnings call today, and stated they were hopefully acquiring an office tower development site soon in Charlotte, and were hoping to make progress next year.  

Public companies are always intentionally vague, but I take it to mean they are probably in advanced discussions with an anchor tenant, as they rarely hold spec land.

In the context of the whole call, it sounded like the most likely project company-wide that hasn't already been announced.

[CarolinaDaydreamin]

On 10/22/2018 at 11:29 AM, Hushpuppy321 said:

Seems like Charlotte really has a lot going for it as far as the local economy is concerned.  Just seems like we're lagging behind in High Rise construction.  Austin, TX is also a booming city but they seem to leave Charlotte in the dust as far as planned construction.

Naw bruh. U serious?

Hopefully Cousins has bought all the levine land lol. 

Edited October 26, 2018 by CarolinaDaydreamin

[Nick2]

Cousins has an excellent record of projects both in use and aesthetic. Frost Bank Tower in Austin is one of my favorites

 

[Desert Power]

15 hours ago, Nick2 said:

Cousins has an excellent record of projects both in use and aesthetic. Frost Bank Tower in Austin is one of my favorites

 

That is incredible 

[atlrvr]

Looks like US Bank is expanding again, taking I believe 1/2 of the 36th floor in Hearst.

 

[KJHburg]

Charlotte is the third most affordable city to buy a home given our average income, housing prices according to SmartAsset 

https://www.bizjournals.com/charlotte/news/2018/10/26/how-much-home-can-charlotteans-afford-the-answer.html

[DMann]

1 hour ago, atlrvr said:

Looks like US Bank is expanding again, taking I believe 1/2 of the 36th floor in Hearst.

 

Any idea how long the lease will be???

[atlrvr]

I don't....my gut is they were able to negotiate some flex, as part of their long term office needs planning...still expecting them to be announced as a new tower anchor soon, but maybe not at L.U.

[CLT704]

Cousins? Another bank tower would be awesome.

[KJHburg]

47 minutes ago, CLT704 said:

Cousins? Another bank tower would be awesome.

Cousins is their landlord for their Hearst Plaza space just as Cousins was Dimensional Funds landlord over at 5/3 Bank Bldg.   

[KJHburg]

The Best Cities for Business and Careers from Forbes ranks these NC cities in the top 25!

#2 Raleigh  #5 Charlotte #13 Durham  #15 Asheville 

Atlanta #11 Nashville #17     They looked at 200 metro areas across USA

https://www.forbes.com/best-places-for-business/list/#tab:overall

the worst?  Atlantic City NJ 

Edited October 30, 2018 by KJHburg

[Dale]

Keep an eye on Columbus, OH. A little bit of Rust Belt character, near Sun Belt growth.