The Good News Report

[KJHburg]

From Ashley Faheys twitter feed tonight

"Old Republic moved HQ into University City from California this spring, bringing 660 jobs, says Darlene Heater of University City Partners. They declined incentives."

They were based in San Ramon CA which is in the San Fran bay area.  Another quiet California HQ move out of state and we benefit.  And as in the home warranties they are really good trust me. 

[KJHburg]

from Business NC morning update Monday:   and this is from primarily the Nascar race many panned as low attendance.  

""Charlotte sets hotel record during Memorial Day weekend
The startling visitor demand at North Carolina's beaches and mountains is well documented, but Mecklenburg County is getting its share of the travel rebound. Over the Memorial Day weekend, a record 26,151 rooms were filled on May 29, boosted by the NASCAR race at Charlotte Motor Speedway. Occupancy topped 25,000 only twice before, on Feb. 29, 2020, during the CIAA basketball tournament and Labor Day weekend in 2018, when Tennessee played West Virginia in a college football bowl game, according to the Charlotte Regional Visitors Authority.

Mecklenburg has about 1,300 more rooms available now than in February 2020, when the pandemic struck.  The authority's research shows leisure travel is leading the industry's recovery, while everyone is waiting for a rebound from business and group travel, including meetings and conventions. "Which is another way to say there is momentum, but we're not there yet," says spokesperson Karen Brand.""

 

[Urban Cowboy]

If you build it, they will come. 

[KJHburg]

More good news on the tourism front.  Projected opening date for the new Carolinas Aviation Museum.  I went 2x to the old one before it closed and glad to see Honeywell stepping up to be a sponsor.   The Miracle on the Hudson shall rise again!

Carolinas Aviation Museum likely to reopen in 2023 - Charlotte Business Journal (bizjournals.com)

""According to recently filed plans with the city, the museum will encompass a 10,500-square-foot existing hangar, a new 5,000-square-foot welcome center and a 45,000-square-foot main gallery with exhibit and education areas.  An airport spokesperson said federal regulations require hangars be prioritized for aviation use. The museum moved out when CLT landed a private aviation tenant for the space. That tenant turned out to be Honeywell International Inc. (NYSE: HON), which has since become a sponsor of the aviation museum.  According to previous CBJ reporting, aviation museum executives had already begun planning for a new home. Honeywell’s arrival accelerated that process.""

[csweet]

7 minutes ago, KJHburg said:

More good news on the tourism front.  Projected opening date for the new Carolinas Aviation Museum.  I went 2x to the old one before it closed and glad to see Honeywell stepping up to be a sponsor.   The Miracle on the Hudson shall rise again!

Carolinas Aviation Museum likely to reopen in 2023 - Charlotte Business Journal (bizjournals.com)

""According to recently filed plans with the city, the museum will encompass a 10,500-square-foot existing hangar, a new 5,000-square-foot welcome center and a 45,000-square-foot main gallery with exhibit and education areas.  An airport spokesperson said federal regulations require hangars be prioritized for aviation use. The museum moved out when CLT landed a private aviation tenant for the space. That tenant turned out to be Honeywell International Inc. (NYSE: HON), which has since become a sponsor of the aviation museum.  According to previous CBJ reporting, aviation museum executives had already begun planning for a new home. Honeywell’s arrival accelerated that process.""

Too cool! Any idea where this might be located? Weren't there talks of hangars  by the new de-icing pad?

[KJHburg]

2 minutes ago, csweet said:

Too cool! Any idea where this might be located? Weren't there talks of hangars  by the new de-icing pad?

Not sure we would have to ask in our CLT airport thread they know every spade of dirt being turned over in that airport. 

[KJHburg]

18 hours ago, KJHburg said:

From Ashley Faheys twitter feed tonight

"Old Republic moved HQ into University City from California this spring, bringing 660 jobs, says Darlene Heater of University City Partners. They declined incentives."

They were based in San Ramon CA which is in the San Fran bay area.  Another quiet California HQ move out of state and we benefit.  And as in the home warranties they are really good trust me. 

660 jobs to 1000 Louis Rose Place in University Research Park and this will be their HQ.

Old Republic Home Protection is hiring in Charlotte's University City - Charlotte Business Journal (bizjournals.com)

No incentives were requested or given for this job win.  

[cltbwimob]

51 minutes ago, csweet said:

Too cool! Any idea where this might be located? Weren't there talks of hangars  by the new de-icing pad?

I believe it’s going to be located in the NE corner of the airfield near the original Hangar for the museum.  They are renovating that building plus adding a 45000 sq ft building and 5k sq ft visitors center.

https://www.carolinasaviation.org/prepare-for-takeoff/

Edited June 15, 2021 by cltbwimob

[CarolinaDaydreamin]

Knoll Inc. is moving its NA HQ to Gastonia, along with Millions of Dollars and dozen's of Jobs. A high tech manufacturing company who has many connections to Apple.

https://www.charlotteobserver.com/news/business/article252125828.html

[HopHead]

6 hours ago, KJHburg said:

660 jobs to 1000 Louis Rose Place in University Research Park and this will be their HQ.

Old Republic Home Protection is hiring in Charlotte's University City - Charlotte Business Journal (bizjournals.com)

No incentives were requested or given for this job win.  

Another under the radar HQ relocation... Even better when no incentives are included. 

[rancenc]

The State of NC has announced the dispersal of economic development grants throughout the state including some communities in the Greater Charlotte area.

https://www.nccommerce.com/news/press-releases/governor-cooper-announces-grants-rural-communities-attract-820-new-jobs-and-more

[JacksonH]

This is both good news and bad news.  I'm putting it here under good news because Charlotte did not make this unfortunate list.  But two N.C. cities did:  Winston-Salem and Fayetteville.  That's not to say there won't be problems in Charlotte, but based on this article, Charlotte won't be in a crisis.

https://finance.yahoo.com/news/40-cities-could-poised-housing-120000329.html

[rancenc]

The mining industry might become an important part of the Greater Charlotte area's economy.

https://businessnc.com/piedmont-lithiums-electrifying-potential/

[Windsurfer]

1 hour ago, rancenc said:

The mining industry might become an important part of the Greater Charlotte area's economy.

https://businessnc.com/piedmont-lithiums-electrifying-potential/

And, this is a good thing?   I just can't get over this rush to mow down everything  green in this region.  The Canadians are decimating the Lancaster area with their huge open pit gold mine. They were fined just last month. 

"Now, after nearly five years of assembling land — more than 2,300 acres — exploratory drilling and legal footwork, Piedmont Lithium is preparing to pump out copious amounts of lithium that could create a major new industry. ..."

[CLT2014]

3 minutes ago, Windsurfer said:

And, this is a good thing?   I just can't get over this rush to mow down everything  green in this region.  The Canadians are decimating the Lancaster area with their huge open pit gold mine. They were fined just last month. 

"Now, after nearly five years of assembling land — more than 2,300 acres — exploratory drilling and legal footwork, Piedmont Lithium is preparing to pump out copious amounts of lithium that could create a major new industry. ..."

Damned if we do, damned if we don't. "Yay, electric cars!!! The future could be green! Bye bye oil! Oh wait, we need a crap ton of lithium...." 

Edited July 1, 2021 by CLT2014

[Windsurfer]

2 hours ago, CLT2014 said:

Damned if we do, damned if we don't. "Yay, electric cars!!! The future could be green! Bye bye oil! Oh wait, we need a crap ton of lithium...." 

It's not an either/or deal.   

[CLT2014]

25 minutes ago, Windsurfer said:

It's not an either/or deal.   

Just get the lithium elsewhere and have it be somebody else's problem?  What's the solution? With the push many manufacturers are making for fully electric line ups over the next 20 years, the demand for lithium plants near vehicle assembly plants (like the ones in the Southeast such as Arrival, BMW, Volvo, Nissan, et.) is going to rapidly accelerate. Our lithium deposits are a big reason companies like Arrival picked the Charlotte area.

Edited July 1, 2021 by CLT2014

[joenc]

1 hour ago, CLT2014 said:

Just get the lithium elsewhere and have it be somebody else's problem?  What's the solution? With the push many manufacturers are making for fully electric line ups over the next 20 years, the demand for lithium plants near vehicle assembly plants (like the ones in the Southeast such as Arrival, BMW, Volvo, Nissan, et.) is going to rapidly accelerate. Our lithium deposits are a big reason companies like Arrival picked the Charlotte area.

Has Arrival really said that?

[JHart]

1 hour ago, joenc said:

Has Arrival really said that?

Absolutely not. There are tons of processing steps in between Piedmont Lithium and actual battery production, which Arrival does not make their own batteries whatsoever, they are buying cells from LG. They are also building what they are calling a microfactory, they aren't even a significant user compared to other car manufacturers. 

[KJHburg]

This is indeed good news uptown is picking up.  I talked to a person who works at the Embassy Suites uptown and he said the hotel is mostly booked on weekends and weekday travel including business people is picking up too.

Is Uptown Charlotte returning to normal? | wcnc.com

[KJHburg]

Good news is that the office market is stabilizing in Charlotte and many other places.  How we stacked up with 3 of our competitors:  Charlotte, Atlanta, Nashville, Raleigh Durham.  Hint Atlanta is by far the worst market right now and Raleigh Durham is the best market in this group.  All stats from JLL

Net Absorption in total Numbers (negative means office market shrunk) year to date to July 1 2021   Bold means best in Class. 

CLT   +78,xxx sq ft    ATL -3.138M sq ft   Nash  +15,xxx sq ft   RDU +151,xxx sq ft

Overall vacancy rate

CLT 16.1%   ATL 22.6%  Nash 17.99% RDU 14.7%

Average sq ft rate 

CLT $32,58  ATL $30,78 Nash $33,01 RDU $29.25 

Total Market Size in Millions of Square Feet

CLT 57 M  ATL 153.4 M  Nash 43.7 M RDU 48.8 M    (I will call ATL the winner since it is the biggest office market) 

Percentage of office space given size the market absorbed (negative means office market shrunk)

CLT  +.1%  ATL  -2.0%  Nash +.1 %  RDU +.3%   

so Raleigh Durham is the best performing market this year so far of our competitors.    Charlotte and Nashville doing about the same.  Atlanta well still has big problems. 

[CltFlyer]

From the Charlotte Regional Business Alliance Twitter page.

 

If you are unable to see it (Like I am).

#FunFact: Earlier this month, our Engagement team joined the

@NCChamber

in surveying more than 100 Investors about their readiness to return to in-person events. The results: 76% of participants are ready now!

 

Edited July 14, 2021 by CltFlyer

[elrodvt]

On 7/10/2021 at 2:38 PM, KJHburg said:

Good news is that the office market is stabilizing in Charlotte and many other places.  How we stacked up with 3 of our competitors:  Charlotte, Atlanta, Nashville, Raleigh Durham.  Hint Atlanta is by far the worst market right now and Raleigh Durham is the best market in this group.  All stats from JLL

Net Absorption in total Numbers (negative means office market shrunk) year to date to July 1 2021   Bold means best in Class. 

CLT   +78,xxx sq ft    ATL -3.138M sq ft   Nash  +15,xxx sq ft   RDU +151,xxx sq ft

Overall vacancy rate

CLT 16.1%   ATL 22.6%  Nash 17.99% RDU 14.7%

Average sq ft rate 

CLT $32,58  ATL $30,78 Nash $33,01 RDU $29.25 

Total Market Size in Millions of Square Feet

CLT 57 M  ATL 153.4 M  Nash 43.7 M RDU 48.8 M    (I will call ATL the winner since it is the biggest office market) 

Percentage of office space given size the market absorbed (negative means office market shrunk)

CLT  +.1%  ATL  -2.0%  Nash +.1 %  RDU +.3%   

so Raleigh Durham is the best performing market this year so far of our competitors.    Charlotte and Nashville doing about the same.  Atlanta well still has big problems. 

Visiting in Denver and loving it. Curious how they're coming back per above. I know a LOT of our favorite restaurants are closed or on hiatus. Charlotte took a hit but my perception is it's worse here as these were all wait in line places. I imagine it's just a more competitive market in general.

[Hushpuppy321]

On 7/10/2021 at 4:38 PM, KJHburg said:

Good news is that the office market is stabilizing in Charlotte and many other places.  How we stacked up with 3 of our competitors:  Charlotte, Atlanta, Nashville, Raleigh Durham.  Hint Atlanta is by far the worst market right now and Raleigh Durham is the best market in this group.  All stats from JLL

Net Absorption in total Numbers (negative means office market shrunk) year to date to July 1 2021   Bold means best in Class. 

CLT   +78,xxx sq ft    ATL -3.138M sq ft   Nash  +15,xxx sq ft   RDU +151,xxx sq ft

Overall vacancy rate

CLT 16.1%   ATL 22.6%  Nash 17.99% RDU 14.7%

Average sq ft rate 

CLT $32,58  ATL $30,78 Nash $33,01 RDU $29.25 

Total Market Size in Millions of Square Feet

CLT 57 M  ATL 153.4 M  Nash 43.7 M RDU 48.8 M    (I will call ATL the winner since it is the biggest office market) 

Percentage of office space given size the market absorbed (negative means office market shrunk)

CLT  +.1%  ATL  -2.0%  Nash +.1 %  RDU +.3%   

so Raleigh Durham is the best performing market this year so far of our competitors.    Charlotte and Nashville doing about the same.  Atlanta well still has big problems. 

Do you know if the Total Market Size for RDU includes RTP or is this just the CBD Area's of Raleigh & Durham?

[KJHburg]

1 minute ago, Hushpuppy321 said:

Do you know if the Total Market Size for RDU includes RTP or is this just the CBD Area's of Raleigh & Durham?

total Raleigh Durham Cary office market the core counties of Wake Durham and Orange