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Gard

Company Relocations

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Given the amount of shuffling around of companies as of late, I thought I'd create a topic on company re-locations. To start, here is one I found this morning on a company known as Jones & Franks, which sells gas pumps and other petroleum-related equipment to retailers and oil companies. The company is re-locating from Norfolk, VA to office space on St. Mary's St. in Raleigh:

http://www.newsobserver.com/2010/08/04/612964/company-moves-to-raleigh.html

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The Brier Creek thread mentions Inspire's forthcoming move there from Durham.

Research Triangle Park has some large vacancies. Nortel has emptied much of its campus, and I assume that Sony Ericsson will do the same. I believe the Hercules/IBM/Lenovo building from the 1960s is still empty. Meanwhile GSK has announced that they will vacate a number of buildings including the iconic former HQ of Burroughs Wellcome (the hexagonal building filmed for Brainstorm).

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"Downtown Raleigh’s revival has suffered a setback with a decision by accounting firm PWC to move out of the space it has occupied since the mid-1990s and take up residence in the new 17-story CapTrust Tower building at North Hills." Read more at http://triangle.bizj...1326400^3759031 .

I wonder if that will free up enough space in the Wachovia Bldg. for Fifth Third's move to downtown. Anybody know how much space PWC vacated and what sq footage is now available at Wachovia?

Ed: I just realized how improbable it would be for Wells Fargo to lease space to another bank trying to establish itself in their market. Yeah. I'm dumb.

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"Downtown Raleigh’s revival has suffered a setback with a decision by accounting firm PWC to move out of the space it has occupied since the mid-1990s and take up residence in the new 17-story CapTrust Tower building at North Hills." Read more at http://triangle.bizjournals.com/triangle/stories/2010/08/09/story1.html?b=1281326400^3759031 .

One firm deciding to move to move a half floor of occupancy to brand new space elsewhere says more about PWC than about downtown. I get the feeling for some firms its just too hard to get in and out of downtown. Downtown is getting very congested and the next big office towers probably need to be off Fayetteville street and/or be be served by better transit. We are at the limit of cars coming into town at rush hour IMO. Alternatively, more workers would need to live downtown, condo projects have been hamstrung by all the new rules. With a geographically small downtown we have real problem on are hands I think....

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