The Good News Report

[DownEast]

Centene is all I can come up with. 

[rancenc]

Could we see a resurgence of brick and mortar retailers that originate from the online world?

https://businessnc.com/nc-trend-trendy-online-retailers-grab-some-brick-and-mortar/

Edited March 2, 2022 by rancenc

[KJHburg]

57 minutes ago, DownEast said:

Centene is all I can come up with. 

Credit Karma did a pretty big lease in Ballantyne's newest building around 90-100K sq ft but Centene's new office is by far the largest suburban lease.  But with uptown and Southend and creative office space in NoDa and FreeMoreWest all is some of the most expensive space in the area.  Some tenants wont pay that so suburban locations will still snag a lot of leases.  

[atlrvr]

XPO Logistics announced today that they are splitting in two.  XPO trucking will continue to be called XPO and remain based in Greenwich, CT.  The new company has not been named yet, but will be based in Charlotte!  Presumably keeping their office space in Ballantyne.

The new company in Charlotte looks like it is made up of existing divisions that did $8-$8.5B in revenue last year, which suggests Charlotte will be gaining a F500 HQ out of this.

[KJHburg]

42 minutes ago, atlrvr said:

XPO Logistics announced today that they are splitting in two.  XPO trucking will continue to be called XPO and remain based in Greenwich, CT.  The new company has not been named yet, but will be based in Charlotte!  Presumably keeping their office space in Ballantyne.

The new company in Charlotte looks like it is made up of existing divisions that did $8-$8.5B in revenue last year, which suggests Charlotte will be gaining a F500 HQ out of this.

the good news is that more tech heavy part of the spinoff is the new Charlotte based part.

https://investors.xpo.com/static-files/b3a5c936-e53f-4c1e-af4e-e8fc5ed33658  the press release

[atlrvr]

Ahhh, after reading that release KJ posted, I see I erroneously bucketed their Euro business into the new business, but that's not the case (it's getting sold), so the Charlotte company revenue would be $4.8B, so would be somewhere around 540th of the F1000 list.
 

 

[rancenc]

The NC Dept of Commerce announced several winners of various downtown development projects throughout the state including some in the Greater Charlotte metro area.

https://www.nccommerce.com/news/press-releases/nc-department-commerce-honors-2021-nc-main-street-award-winners

[KJHburg]

Linkedin ranked their top opportunity cities and of course the QC is on the list and is bested by our instate rival.

https://www.linkedin.com/pulse/looking-job-hunting-edge-15-metros-opportunity-magnets-george-anders/

[KJHburg]

Jeff Bezo's ex wife donated over $18 Million to local Habitat for Humanity affiliates.

https://yorkcountyhabitat.org/wp-content/uploads/sites/11/2022/03/Mackenzie-Scott-Major-Gift-Press-CLT-York-Catawba.pdf

from the Biz Journal article about it

""Three Habitat for Humanity chapters in the greater Charlotte region have received a combined $18.5 million as part of a larger, $436 million donation from billionaire philanthropist MacKenzie Scott.  Habitat for Humanity of the Charlotte Region received the largest donation of the three groups at $13.5 million, while Habitat for Humanity of York County and Habitat for Humanity of Catawba Valley each were given $2.5 million, according to a news release.""

https://www.bizjournals.com/charlotte/news/2022/03/22/local-habitat-for-humanity-groups-receiving-185m.html

Edited March 22, 2022 by KJHburg

[rancenc]

Good news as the state rebounds from the Covid-19 economic set backs of the last two years.

https://journalnow.com/business/local/ncs-pandemic-economic-rebound-spurs-record-jobs-capital-investment-totals-in-2021/article_96bc904c-a9e2-11ec-8da1-53500ef2b1a3.html

[rancenc]

From the February airplay of NC Weekend on PBS of various projects throughout the state including one in Mt Pleasant that were readapted from other uses.

https://video.pbsnc.org/video/reimagined-spaces-eclzfq/?utm_source=youtube.com&utm_medium=referral

[rancenc]

Small business creation throughout the state reaches record levels!

https://journalnow.com/business/local/entrepreneurial-spirit-spurring-more-record-business-creations-in-nc/article_6dba18a4-b5d1-11ec-850a-2b0621346f0a.html

[KJHburg]

NC in March has a record number of jobs even higher than before Covid started.  Only a handful of states can say this.

https://wraltechwire.com/2022/04/18/nc-sets-an-employment-record-4-7m-people-working-but-whats-this-mean/

[atlrvr]

Giant NY HQ'd law firm Greenberg Traurig just hired it's first Partner (and opened a new office) in Charlotte.  I was somewhat shocked to see this, but they are the highest ranked firm by revenue on the Amlaw 200 list to open a Charlotte office at #16 on that list.  (none of the top 15 law firms have a Charlotte office).

Looks like temporary office in SouthPark area for now, but they have plans to add attorneys here, and I assume lease higher profile office space.

[Blue_Devil]

2 hours ago, atlrvr said:

Giant NY HQ'd law firm Greenberg Traurig just hired it's first Partner (and opened a new office) in Charlotte.  I was somewhat shocked to see this, but they are the highest ranked firm by revenue on the Amlaw 200 list to open a Charlotte office at #16 on that list.  (none of the top 15 law firms have a Charlotte office).

Looks like temporary office in SouthPark area for now, but they have plans to add attorneys here, and I assume lease higher profile office space.

That is pretty interesting. It might start a cascade of a few others doing the same thing. They all compete.

[rancenc]

A demographic group that is very important to North Carolina's real estate market.

https://businessnc.com/retirement-living-energizes-the-states-housing-market/

[rancenc]

Good news for the state's tourism industry in 2021

https://www.nccommerce.com/news/press-releases/north-carolina-announces-total-tourism-spending-near-recovery-2021

[BarrenLucidity]

On 5/2/2022 at 10:11 AM, rancenc said:

A demographic group that is very important to North Carolina's real estate market.

https://businessnc.com/retirement-living-energizes-the-states-housing-market/

Which is interesting because as I understand it, the retirement taxation situation is less favorable than many other states. 

[Blue_Devil]

4 hours ago, BarrenLucidity said:

Which is interesting because as I understand it, the retirement taxation situation is less favorable than many other states. 

Kids are here. 

[DonkeyKong]

1 hour ago, Blue_Devil said:

Kids are here. 

and grandkids. 

[KJHburg]

6 hours ago, BarrenLucidity said:

Which is interesting because as I understand it, the retirement taxation situation is less favorable than many other states. 

Our property taxes are overall lower than Florida as are our insurance bills.  If you are a high income retiree that gets huge pensions made NC is not the best but many people it is great.  

Our mild climate more affordable housing in both mountains and coast is a big attraction.  There are huge 55 and up communities all over the state not only around the big metro areas but around Wilmington and Brunswick county and lots of places in the mountains.  

[elrodvt]

10 hours ago, KJHburg said:

Our property taxes are overall lower than Florida as are our insurance bills.  If you are a high income retiree that gets huge pensions made NC is not the best but many people it is great.  

Our mild climate more affordable housing in both mountains and coast is a big attraction.  There are huge 55 and up communities all over the state not only around the big metro areas but around Wilmington and Brunswick county and lots of places in the mountains.  

We got killed with taxes moving from Denver to here. We both have pensions and SS. Property taxes are like 2x as well. Plus the services are inferior. I think the western states have a big advantage by not being so old and having done a better job on buildings things to last.

[CarolinaDaydreamin]

12 hours ago, elrodvt said:

having done a better job on buildings things to last.

That happens when you are a dryer climate, but the water and wildfire issues probably negate those differences.

[elrodvt]

35 minutes ago, CarolinaDaydreamin said:

That happens when you are a dryer climate, but the water and wildfire issues probably negate those differences.

Good point on the fires. I was going by the way the roads near our place were replaced and the higher end construction. I'm no expert at either but it just had a feel of really solid building along with extra cost features.

[KJHburg]

this is good news bad news type of story.   This is what $400,000 national home price buys all over the country and Charlotte falls about in the middle.

https://www.point2homes.com/news/us-real-estate-news/how-much-space-400000-buys-in-100-largest-u-s-cities.html

Look for Charlotte between right next to Bakersfield CA Raleigh get a little big bigger home Greenboro a lot bigger.  Nashville a smaller home Denver very small home California cities the coastal ones basically a 3 car garage size home.