The Good News Report

[jednc]

For me, it's when NCNB pulled off the purchase of C&S/Sovran and eight years later their merger with BankAmerica.

Edited April 23, 2019 by jednc
edit - misspelled Sovran

[go_vertical]

I'll never forget when the seedy motel on south Tryon with the heart shaped hot tubs in every room was torn down. 

Seriously though, a big moment for me is two pronged. It starts with the announcement of the Panthers in Charlotte. I can't remember exactly how he said it, but Richardson made a bold statement in that they would make it to the Super Bowl within a decade. 

Fast forward to 2003 and low and behold we're playing in the big game. It was then, despite growing up going to the occasional Buccaneers game and absolutely loving every time the cannons would go off, that I was more drawn to the blue and teal than the old creamsicle boys. 

The way the team came out of the gate winning games and then delivering on Jerry's Super Bowl promise in a mere eight years was pretty damn cool to me and I was hooked. 

[CarolinaDaydreamin]

How bout them Canes! Gotta pull for Raleigh teams sometimes...

[tozmervo]

20 hours ago, go_vertical said:

I'll never forget when the seedy motel on south Tryon with the heart shaped hot tubs in every room was torn down. 

The Ascot Inn. When it came down, that's when I knew Charlotte had no respect for its history. Just think about all the events those heart tubs had witnessed.

Edited April 25, 2019 by tozmervo

[videtur quam contuor]

2 hours ago, tozmervo said:

The Ascot Inn. When it came down, that's when I knew Charlotte had no respect for its history. Just think about all the events those heart tubs had witnessed.

And the Ascot Jungle Room (I was told of it, ahem)

[tozmervo]

For those of you not here before 2010ish? 2011?  This was the famous sign for the wildly creepy hotel that sat north of the Midnight Diner where the surface lot is today. (credit to the charlottefive server for the image, I can't find my photos of it)

[kermit]

^ and one of the urban legends associated with it was that the Midnight Diner had to stop providing spoons to diners because they were being stolen for 'consuming' purposes back a the hotel.

I heard that story from multiple people, but I was always given a spoon for my grits....

[elrodvt]

6 hours ago, tozmervo said:

For those of you not here before 2010ish? 2011?  This was the famous sign for the wildly creepy hotel that sat north of the Midnight Diner where the surface lot is today. (credit to the charlottefive server for the image, I can't find my photos of it)

you mean the Westin right?

[KJHburg]

Avison Young released their 1Q Industrial warehouse report.   It shows in the last 12 months 3.8 million sq ft was absorbed!  Vacancy is up due to lots of construction and winner in the last 12 months of the submarkets (of which Mecklenburg county has many) is Cabarrus county,

Big new lease signed last quarter was Bang Energy (evidently energy drinks) for 200,000 sq ft in Afton Ridge 2 in Cabarrus County in a spec building.  Biggest warehouse lease was the 700,000 sq ft lease for Chewy.com and its massive pet products warehouse to be built in Rowan County.  

download your copy here

https://www.avisonyoung.us/web/charlotte-nc/research

[KJHburg]

This is a great story about state level official unknown to most  and that now has become famous.  NC's Elevator Lady.   She Lifts Us all Up!   Try her new elevator lady beer at Unknown. 

https://www.charlotteagenda.com/165113/how-i-work-cherie-berry-elevator/

Edited April 30, 2019 by KJHburg

[CLT704]

22 minutes ago, KJHburg said:

state level official unknown to most

She's not unknown when her face stares at you in every single elevator

[KJHburg]

1 minute ago, CLT704 said:

She's not unknown when her face stares at you in every single elevator

I meant beforehand and this position while important has always been very low profile in NC under her face appeared on the certificates.  I hope the next person does it too.

[go_vertical]

34 minutes ago, CLT704 said:

She's not unknown when her face stares at you in every single elevator

And also on every laminated NC labor laws sign in pretty much every place of work. 

[jednc]

1 hour ago, KJHburg said:

I meant beforehand and this position while important has always been very low profile in NC under her face appeared on the certificates.  I hope the next person does it too.

Wait, do you mean to tell me you think she was unknown before the beer? I don't drink but I know who Cherie Berry is (although I'm not sure I've spelled her name correctly).

[atlrvr]

Ingersoll Rand (HQ in Ireland, but effectively based in Davidson, NC) merging a division of the company with Gardner Denver based in Milwaukee.

That combination will be spun out into a new public company also based in Davidson, while the remainder of IR will remain there as well.

As a US headquartered company with $6.6B in revenue, the new spin-off SHOULD be a new Fortune 500 based here in Meck Co.  The current CEO of Gardner Denver will become the CEO of the combined entity, and likely have discretion about if the physically separate themselves from IR.....cue new Uptown HQ speculation 

 

[Rufus]

14 minutes ago, atlrvr said:

Ingersoll Rand (HQ in Ireland, but effectively based in Davidson, NC) merging a division of the company with Gardner Denver based in Milwaukee.

That combination will be spun out into a new public company also based in Davidson, while the remainder of IR will remain there as well.

As a US headquartered company with $6.6B in revenue, the new spin-off SHOULD be a new Fortune 500 based here in Meck Co.  The current CEO of Gardner Denver will become the CEO of the combined entity, and likely have discretion about if the physically separate themselves from IR.....cue new Uptown HQ speculation 

 

Maybe you can clarify, but I know IR is "HQ'd" in Ireland, but really in Davidson. The Gardner Denver deal will be US based? I kept trying to figure that out. This is totally good news because we are gaining on HQ in the process without losing the other, even if that other is only HQ in name in Ireland. 

[KJHburg]

31 minutes ago, jednc said:

Wait, do you mean to tell me you think she was unknown before the beer? I don't drink but I know who Cherie Berry is (although I'm not sure I've spelled her name correctly).

she has been Labor Commissioner since 2002 but the first couple of years there was no face on the signs.  Then she added them and her profile rose greatly.  

[atlrvr]

Yes....this new company will be US based, and HQ in Davidson.

The mechanics are:

Ingersoll Rand will spin-off a division that is a stand-alone entity.

That new entity will immediately be purchased by Milwaukee based GDI.

The headquarters of GDI will move to Davidson.

Here is where it gets REALLY confusing.

GDI will rename itself Ingersoll Rand.

The original IR that didn't sell itself will rebrand (my guess as TRANE).

The "new" IR will be US based, and "TRANE" will remain Ireland based, and both co-located, for now, in Davidson.

IR will be a new Fortune 500 company, and TRANE is actually still larger post-divestiture and would be a Fortune 500 too, except for it's technically Ireland domicile.

[KJHburg]

^^^ Yes this is confusing here is an article from the Business Journal about it.  

https://www.bizjournals.com/charlotte/news/2019/04/30/ingersoll-rand-to-spin-off-merge-its-industrial.html

But it does sound like no employment changes in NC except more jobs may come here.  NC corporate tax structure is better than Wisconsin's for sure and it is easier to attract top talent here. 

[elrodvt]

2 hours ago, jednc said:

Wait, do you mean to tell me you think she was unknown before the beer? I don't drink but I know who Cherie Berry is (although I'm not sure I've spelled her name correctly).

Doesn't anyone remember her failings: http://aflcionc.org/wage-theft-just-the-latest-fail-by-cherie-berry/

Odd link but it is open. Plenty of articles in papers.

[Rufus]

1 hour ago, atlrvr said:

IR will be a new Fortune 500 company, and TRANE is actually still larger post-divestiture and would be a Fortune 500 too, except for it's technically Ireland domicile.

This is great news for the area as well. I think this brings us up to at least 7 F500 companies, with BBTST, Domtar, Sealed Air, Diversey, and Coca Cola Bottling up in the air. Throw in the new IR and Resolute Forest Products, and we have the potential for 14 F500 not this year, but next year. 

[U_R_]

I was doing some corporate Atlanta lurking and I found out that a segment of Roark Capital Group is based in Charlotte (Driven Brands). I searched around on the forum, but I didn't see the name po-up at all. Driven Brands has gobbled up quite a few brands recently.

http://www.drivenbrands.com/news/roark-portfolio-company-driven-brands-acquires-texas-based-express-lube/

https://www.moderntiredealer.com/news/733099/driven-brands-expands-take-5-oil-change-network

Even though one is old, and one is just of some more stores, these acquisitions add up very quickly. This should hopefully mean more jobs for yall in Charlotte. As an Atlantan, I have seen Inspire Brands/Focus Brands (headquartered) in ATL grow very quickly and hire a ton of people. If Driven keeps up, it should hopefully mean more for yall too.

[KJHburg]

Driven Brands is based in the current Ally Building on S Church but they did take some additional space in the 400 South Tryon building.  They are growing for sure.  

[U_R_]

On 4/30/2019 at 10:59 AM, atlrvr said:

 

 

Edited May 1, 2019 by Ric0_0
Accident

[KJHburg]

Cushman and Wakefield is out with their 1Q 2019 office market reports.  Interesting to note is that they are reporting BofA has renewed their lease in Bank of America Plaza  And that Parker Poe which is over at 3 Wells Fargo is moving to Legacy 1 Bank of America Tower which means that would be their 3rd tenant there after the bank and an accounting firm.   Wells is living up to pushing them out of 3 Wells Fargo and they will backfill that space themselves.    Plus they are reporting Parson Engineering in taking space in the Railyard which makes those twin buildings just about full.  

All of this is good news and the biggest blocks of space uptown are now gone with 300 South Brevard old AT&T building with Wells and the fact BofA is going to continue to lease at Bank of America Plaza.

You can download  your report here

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

Key Lease Transactions Q1 2019
PROPERTY SF TENANT TRANSACTION TYPE SUBMARKET
300 S Brevard 331,071 Wells Fargo  New CBD
101 S Tryon 294,607 Bank of America Renew CBD
10101 David Taylor Dr 92,740 Centene Corporation New University
13830 Ballantyne Corporate Pl 77,000 Lincoln Financial New South/485
620 S Tryon St 70,000 Parker Poe New CBD
8333 Forest Point Blvd 61,151 Charter New Airport
4350 Congress St 47,000 Discovery Communications New SouthPark
1422 S Tryon St 39,859 Parsons New Midtown
1422 S Tryon St 30,487 Ernst & Young New Midtown
4725 Piedmont Row Dr 23,175 First Horizon New SouthPark

Edited May 2, 2019 by KJHburg