The Good News Report

[hambone931]

13 hours ago, Silicon Dogwoods said:

Charlotte home prices are at an all-time high:

 

http://www.bloomberg.com/news/articles/2016-03-10/americans-housing-wealth-recovers-7-trillion-as-prices-firm

The couple in the article live on Marsh Rd. in Sedgfield if anyone was wondering.

Source: Tax Records

[Silicon Dogwoods]

3 hours ago, hambone931 said:

The couple in the article live on Marsh Rd. in Sedgfield if anyone was wondering.

Source: Tax Records

Oddly, I am in contract on a condo in that area!

[KJHburg]

Townsquare Interactive a web building company is moving to uptown Charlotte 200 South Tryon taking 51,000 sq ft a huge jump from their 11,000 sq feet in Ballantyne. This must mean new jobs as that is a big jump in space.

[KJHburg]

16 hours ago, KJHburg said:

Townsquare Interactive a web building company is moving to uptown Charlotte 200 South Tryon taking 51,000 sq ft a huge jump from their 11,000 sq feet in Ballantyne. This must mean new jobs as that is a big jump in space.

Seems it will be 100 new jobs

http://www.charlotteobserver.com/news/business/article65923982.html   Existing area  businesses are still our best source of new jobs in the region!

 

[urbanlover568]

WOW. Charlotte cant build fast enough to keep up with the growth!

 

Latest numbers show Charlotte’s apartment boom isn’t slowing down

[CLT2014]

6 hours ago, KJHburg said:

Seems it will be 100 new jobs

http://www.charlotteobserver.com/news/business/article65923982.html   Existing area  businesses are still our best source of new jobs in the region!

 

It is always good news when additional industries besides banking and energy pick Uptown! Industries like tech need a constant flow of young workers and Uptown is closer to where they live vs. Ballantyne. 

Edited March 14, 2016 by CLT2014

[KJHburg]

JLL did a new construction report for all major markets in USA in terms of office space development:

Only 3 cities are adding more office space as a percentage of their office market size than Charlotte: Nashville, Salt Lake and Seattle. They reported 2.6 million sq ft of office space development that is 55.8% preleased. This includes 300 South Tryon, Capitol Towers, Brigham Bldg at Ballantyne and some built to suits that are leased like the new AvidXchange bldg. (200K sq ft) and the Sealed Air campus (approx. 387K sq ft)  Overall this means office development is in line with preleasing. They note Dallas is overbuilding and Atlanta has only 885K sq ft under development which is a drop in the bucket in that huge office market. Also noted is that NYC is building way too much office space to meet future demands. Charlotte is a low cost office site compared to almost all major cities and many of our peers.

 

http://www.us.jll.com/united-states/en-us/research/6806/US-office-development-spring-2016-JLL

[KJHburg]

Major job announcement coming today at 3 pm at the Charlotte Chamber  in conjunction with the state and you can watch it live here

http://charlottechamber.com/

[Silicon Dogwoods]

24 minutes ago, KJHburg said:

Major job announcement coming today at 3 pm at the Charlotte Chamber  in conjunction with the state and you can watch it live here

http://charlottechamber.com/

@ 3PM on a Friday and with no mentioned appearance by Gov. McFeckless, I don't think it'll be a huge deal.

But maybe I'm wrong and this is BMW announcing a North American hq relocation that will allow One Tryon Place to break ground...

Edited March 18, 2016 by Silicon Dogwoods

[ah59396]

35 minutes ago, Silicon Dogwoods said:

@ 3PM on a Friday and with no mentioned appearance by Gov. McFeckless, I don't think it'll be a huge deal.

But maybe I'm wrong and this is BMW announcing a North American hq relocation that will allow One Tryon Place to break ground...

It's probably to tell us Red Ventures is hiring...

[SgtCampsalot]

7 minutes ago, ah59396 said:

It's probably to tell us Red Ventures is hiring...

"Red Ventures: Come live on our campus and never leave."

[go_vertical]

^Oh no, most of em end up leaving.

[HopHead]

Here's the good news: PayPal will be opening a global operations center in Charlotte: http://www.charlotteobserver.com/news/business/article66843117.html

No word on location of the facility yet or number of employees. But, that's what the 3pm presser is for.

[kermit]

^ pretty sweet Fintech score!

Stuff that is kinda banking, but not exactly banking is always a big win for CLT.

[RaleighHeelsfan]

So why can't Paypal go uptown? Article states it's a processing center. ???

 

Any guess on job amounts?

[CLT2014]

16 minutes ago, RaleighHeelsfan said:

So why can't Paypal go uptown? Article states it's a processing center. ???

 

Any guess on job amounts?

They said in the past they were looking for at least 200,000 square feet for their new operations site so this is probably 1,500+ jobs over time. For comparison, in the Phoenix area they opened a site for 2,000 people in a 190,000 square foot building. Let's wait until 3 for official #'s.

As far as buildings under construction, the Brigham Building in Ballantyne at 288,000 square feet might be attractive to them. Uptown would surprise me, but if the price was right it could happen.

Edited March 18, 2016 by CLT2014

[atlrvr]

300 S Brevard maybe?

 

[KJHburg]

1 hour ago, atlrvr said:

300 S Brevard maybe?

 

300 Brevard is a the best cost option uptown and would offer branding opportunities but if PayPal choses the suburbs look to Ballantyne or maybe the airport submarket with lots of space coming on the market with the LPL and Lash group moves to Ft Mill. 300 South Brevard is 350,000 sq ft and was set up for call center when BellSouth AT&T occupied it. High parking ratio too for uptown.

Edited March 18, 2016 by KJHburg

[Silicon Dogwoods]

1 hour ago, kermit said:

^ pretty sweet Fintech score!

Stuff that is kinda banking, but not exactly banking is always a big win for CLT.

I don't disagree, which is why the comparative silence around WalMart's new hublet here was so puzzling.

[KJHburg]

Business Journal reporting 300 jobs from Paypal looking in the university area. Only one large block of space in that area the old Allstate Bldg which is not 3 Resource Square but is the building visible from I-85 behind Chilis and TMac. It is 196,000 sq ft now empty ample parking and ample land and is within walking distance of the new Blue Lynx line extension station.

http://www.bizjournals.com/charlotte/news/2016/03/18/sourcespaypal-to-announce-300-jobs-in-new.html?utm_source=dlvr.it&utm_medium=twitter   I guess we will find out soon

[Deleted.]

6 minutes ago, KJHburg said:

Business Journal reporting 300 jobs from Paypal looking in the university area. Only one large block of space in that area the old Allstate Bldg which is not 3 Resource Square but is the building visible from I-85 behind Chilis and TMac. It is 196,000 sq ft now empty ample parking and ample land and is within walking distance of the new Blue Lynx line extension station.

http://www.bizjournals.com/charlotte/news/2016/03/18/sourcespaypal-to-announce-300-jobs-in-new.html?utm_source=dlvr.it&utm_medium=twitter   I guess we will find out soon

http://www.newsobserver.com/news/business/article66887412.html

This article mentions that the average salary will be $51,000.

[SgtCampsalot]

Good to see some UC love.

[CLT2014]

14 minutes ago, Piedmont767 said:

http://www.newsobserver.com/news/business/article66887412.html

This article mentions that the average salary will be $51,000.

University City is a great fit.

The average salary looks to be in line with their other operations centers. If it is like a smaller version of Omaha, there will be call center type workers that earn $13-$15 per hour, account managers earning around $50k, business analysts earning $70k per year, and software engineers earning $90,000 plus + site management. Any options that required paid parking (largely Uptown) were just not a good option for a site with such a wide range of incomes. Having people that earn $15 per hour pay $130 per month to park their car is tough - UC is a good low cost option.

Edited March 18, 2016 by CLT2014

[KJHburg]

watching the news conference about Paypal 400 jobs including customer service, risk managers, compliance specialists, software engineers and management. and no it does not hurt the fact the VP of Global Ops for Paypal has a home at Lake Norman and is a former Wachovia exec. Good overall fit for Charlotte and jobs are what I get excited about!

[Deleted.]

It doesn't necessarily mean that PayPal is going to be in UCity, but they are looking. Personally, I'd prefer them to locate in Uptown (which won't happen); the rest of 300ST sounds good.