The Good News Report

[cltbwimob]

Here we go.  MetLife's US retail business will be branded as Brighthouse Financial once the spinoff is complete. 

 http://www.businesswire.com/news/home/20160721005222/en/MetLife-U.S.-Retail-Business-Rebrand-Brighthouse-Financial

I was hoping this segment of the business would maintain the MetLife name and the Snoopy blimp, but I can't complain too much.  In short order Charlotte will again be HQ city for two major Fortune 500 financial firms. 

I'm ready for Capital Bank and Ally next.

Edited July 21, 2016 by cltbwimob

[DMann]

US Bank!  Think BIG!

[HopHead]

3 hours ago, cltbwimob said:

Here we go.  MetLife's US retail business will be branded as Brighthouse Financial once the spinoff is complete. 

 http://www.businesswire.com/news/home/20160721005222/en/MetLife-U.S.-Retail-Business-Rebrand-Brighthouse-Financial

I was hoping this segment of the business would maintain the MetLife name and the Snoopy blimp, but I can't complain too much.  In short order Charlotte will again be HQ city for two major Fortune 500 financial firms. 

I'm ready for Capital Bank and Ally next.

Capital Bank released their earnings report today. Based on the Observer article, they are already headquartered here... which is news to probably everyone on this board.

http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article91012632.html

[deleted]

45 minutes ago, HopHead said:

Capital Bank released their earnings report today. Based on the Observer article, they are already headquartered here... which is news to probably everyone on this board.

http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article91012632.html

According to that reliable source Wikipedia, HQ'd in Coral Gables but recently bought CommunityOne Bank in Charlotte...

[RaleighHeelsfan]

I remember earlier this year in the TBJ reading Capital Bank was HQ'd in Raleigh and moving to Charlotte. Never heard anything else. Maybe they moved to FL instead?

Edit: HQ is in Raleigh. Capital Bank bought Community One Bank in Charlotte. Link Below from early this year

 

http://www.newsobserver.com/news/business/article55804495.html

 

https://www.capitalbank-us.com/about-capital-bank

From above link:

 

 

 

16 minutes ago, JBS said:

According to that reliable source Wikipedia, HQ'd in Coral Gables but recently bought CommunityOne Bank in Charlotte...

 

Edited July 21, 2016 by RaleighHeelsfan

[atlrvr]

Their SEC filing note the following (this is typically where you find how a company defines their HQ)

 

 

4725 Piedmont Row Drive, Suite 110

Charlotte, North Carolina 28210

(Address of principal executive offices)(Zip Code)

[videtur quam contuor]

This is funny. A bank, not a vaporware company, but a bank has a headquarters that is so fluid it cannot be nailed down

[KJHburg]

This is the CBRE tech report summary and shows good comparisons to Raleigh Durham. I would also download the whole report as it shows Charlotte has added more tech jobs in the last few years than the larger Raleigh tech market. http://developclt.com/charlottes-high-tech-hotbed-report-says/

[KJHburg]

Cushman and Wakefield's 2Q office report is out. Continuing growth in office space occupancy and lower vacancy rates. Very positive. You can download it here  http://www.cushmanwakefield.us/en/research-and-insight/unitedstates/charlotte-office-snapshot/

[KJHburg]

2nd Quarter jobs report from the Charlotte Chamber shows job growth up from last year for the first 6 months of 2016 and for 2nd quarter 2016 compared to 2015.  Most expanding businesses or smaller new businesses but growth nonetheless. 

Here is the report

https://charlottechamber.com/clientuploads/Webmaster/PDF/N%26E_2Q16_Summary.pdf   and remember what was happening nationally very slow growth

http://www.bloomberg.com/news/articles/2016-07-29/struggling-u-s-economy-propped-up-by-gain-in-consumer-spending  especially by businesses. 

[Nick2]

Chicago tube and iron is opening a new distribution facility in Locust NC in Stanley county and plans to expand the plant there. Don't have definitive numbers of the actual jobs added or what will be added though. Always nice to get more diversity in the Charlotte area jobs market.

[KJHburg]

Chart of the week from JLL shows Charlotte industrial market compared to other southeastern peers but what is most striking is the Charlotte metro is the fastest growing metro area of our southeast competitor cities since 2010. http://www.jll.com/Charlotte/en-us/research/chart-of-the-week

[jednc]

4 hours ago, KJHburg said:

2nd Quarter jobs report from the Charlotte Chamber shows job growth up from last year for the first 6 months of 2016 and for 2nd quarter 2016 compared to 2015.  Most expanding businesses or smaller new businesses but growth nonetheless. 

Here is the report

https://charlottechamber.com/clientuploads/Webmaster/PDF/N%26E_2Q16_Summary.pdf   and remember what was happening nationally very slow growth

http://www.bloomberg.com/news/articles/2016-07-29/struggling-u-s-economy-propped-up-by-gain-in-consumer-spending  especially by businesses. 

2nd Quarter lines up with the passage of HB2 almost exactly. Looks like we did better than 2015 even with this bill?

Don't anyone get anything in a knot. I don't like HB2 and expect it to be overturned by the courts. This is just an observation.

If we did better immediately following HB2 than last year, then I would certainly expect that to be the worst quarter.

[Guest]

2 hours ago, jednc said:

2nd Quarter lines up with the passage of HB2 almost exactly. Looks like we did better than 2015 even with this bill?

Don't anyone get anything in a knot. I don't like HB2 and expect it to be overturned by the courts. This is just an observation.

If we did better immediately following HB2 than last year, then I would certainly expect that to be the worst quarter.

Lots of variables including office leases generally being signed well in advance. Not going to be a good barometer until later on. More interested in 3rd and 4th QTR. I know of two 400-600 job expansions that are on hold indefinitely. 

Edited July 30, 2016 by Guest

[elrodvt]

2 hours ago, jednc said:

2nd Quarter lines up with the passage of HB2 almost exactly. Looks like we did better than 2015 even with this bill?

Don't anyone get anything in a knot. I don't like HB2 and expect it to be overturned by the courts. This is just an observation.

If we did better immediately following HB2 than last year, then I would certainly expect that to be the worst quarter.

Personally I wouldn't read a lot into those numbers. Other than some high profile losses we've all heard of I expect most companies that had already spent a lot on planning a move held their nose and stuck with it. What I worry about more is the prospects that don't even consider NC anymore and that's sort of immeasurable. Don't quote me on this but i think I heard the chamber head say they've had a number of conversations where they were told NC cannot even be considered anymore. This was at the WFAE forum if anyone remembers more precisely what he said. Someone in the audience (Mint director?) also said the Mint was told they could not be part of at least one exhibit because the other exhibitors did not want the bad PR. So, my perception is the really bad stuff has not hit yet. But of course that fits my belief system as well. ;-) 

Edited July 30, 2016 by elrodvt

[kermit]

There have also been some really weird events like companies who have been eligible for incentives have choosen not to take them because they did not want the negative pr of being part of an announcement. Dollar Express (the stores that Family Dollar was forced to divest because of the merger) was eligible for $3 million from the state but they turned it down becuase they didn't want to be at a press conference.

[RiverwoodCLT]

3 reasons Charlotte’s booming apartment market is just fine, and 1 note of caution

The most dramatic increase has been in the uptown/South End submarket, which has seen a 108 percent increase in the number of apartments since 2012. That translates to nearly 9,000 new units, and means that uptown and South End are the fastest-growing submarket in the entire U.S. – yup, the whole nation – out of 1,000 tracked by MPF Research.

http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article92550817.html?utm_content=bufferd2ba3&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Edited July 30, 2016 by RiverwoodCLT

[deleted]

17 hours ago, kermit said:

There have also been some really weird events like companies who have been eligible for incentives have choosen not to take them because they did not want the negative pr of being part of an announcement. Dollar Express (the stores that Family Dollar was forced to divest because of the merger) was eligible for $3 million from the state but they turned it down becuase they didn't want to be at a press conference.

Very interesting and bizarre.  A private equity firm is afraid of possible negative publicity and turned down $3 million?  That makes zero sense to me...

[urbanlover568]

12 minutes ago, JBS said:

Very interesting and bizarre.  A private equity firm is afraid of possible negative publicity and turned down $3 million?  That makes zero sense to me...

Nobody wants anything to do or associated with the state at the moment. Give it a few years and things will hopefully return to normal Only takeaway is, it's saving the taxpayer money. 

[KJHburg]

Some companies don't want to take incentives such as Synchrony Financial which expanded in Ballantyne or Alevo in Concord or Walmart Support Services in the airport area. Walmart alone added 1000 jobs and was the biggest new to market lease in 2015.  Never a public announcement at all. All of these companies made their decisions before HB2 including Amazon Concord.    Amazon did not take any incentives for their warehouse or even publicly announce their 220,000 sq warehouse lease in Concord. I doubt they will do any different for their new 397,000 sq ft warehouse on Old Dowd road they are working to open right now. Some companies don't really want the scrutiny and tight hiring expectations etc.  (By the way Amazon just leased 300K space in Raleigh around the same time they leased the space in Charlotte) Honestly I am glad they are not taking state money. Our cost of doing business is very low in NC compared to the country and our labor pool is strong. 

[KJHburg]

Update on the National Mustang Museum in Concord broke ground and should be open in summer of 2017. http://www.independenttribune.com/townnews/commerce/more-than-ford-mustangs-show-up-for-mustang-owner-s/article_5e49ea34-569b-11e6-994a-f7a18250fbb7.html?utm_source=twitterfeed&utm_medium=twitter   This is great addition to the racing attractions in Cabarrus county and will bring in tourists from the around the country. 

[KJHburg]

More good news on the industrial warehouse real estate market. Over 1,000,000 sq feet absorbed so far this year with the biggest lease being Amazon off Wilkinson Blvd.  Warehouses may not be sexy or architectural significant but they provide JOBS and that is why I like them. Check out the report from Colliers http://www.colliers.com/en-us/charlotte/insights/research-library

[rancenc]

Toshiba adding another divisional headquarters in Charlotte!

http://www.bizjournals.com/charlotte/news/2016/08/01/toshiba-moving-hydro-power-operations-to-charlotte.html

[KJHburg]

A big out of town firm is snooping around Charlotte according to the Atlanta Business Chronicle. Costar the real estate data group is looking for 200,000 sq ft and this article says Charlotte is a leader contender because we have more available space. Beside the new options of 300 South Tryon, 615 South College and 300 South Brevard (all uptown), Capitol Tower 2 (Southpark) and Bissell's new 287,000 sq ft building in Ballantyne we also have the space the LPL Financial is vacating in the Airport area. ATL does not have the kind of spec construction we have in the office market and that new building they mentioned in Buckhead has a higher lease rate than our new uptown high rises. 

Heres the article and does anyone know anything about this. Costar had some kind of office here before off Arrowood Rd then consolidated it elsewhere so they do know our market. Article is further down this page in this link http://www.bizjournals.com/atlanta/news/2016/07/29/turner-field-lci-creates-master-plan-for-downtown.html

[Guest]

31 minutes ago, KJHburg said:

A big out of town firm is snooping around Charlotte according to the Atlanta Business Chronicle. Costar the real estate data group is looking for 200,000 sq ft and this article says Charlotte is a leader contender because we have more available space. Beside the new options of 300 South Tryon, 615 South College and 300 South Brevard (all uptown), Capitol Tower 2 (Southpark) and Bissell's new 287,000 sq ft building in Ballantyne we also have the space the LPL Financial is vacating in the Airport area. ATL does not have the kind of spec construction we have in the office market and that new building they mentioned in Buckhead has a higher lease rate than our new uptown high rises. 

Heres the article and does anyone know anything about this. Costar had some kind of office here before off Arrowood Rd then consolidated it elsewhere so they do know our market. Article is further down this page in this link http://www.bizjournals.com/atlanta/news/2016/07/29/turner-field-lci-creates-master-plan-for-downtown.html

They are actually one of the two company I referenced in another thread. I was told 100k so 200k is big news to me.