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Short-sighted thinking wouldn't you agree? Businesses from elsewhere in the state or country can be pitched to locate here.
They can be pitched up and down all day and night. But they're not going to sign up for a speculative 25 floor office tower that wants a 70% leased out building. First, that would be a huge relocation. Most likely incentives would be involved. If a company relocates to Greensboro in a speculative building, it's going to be a 7 floor or so building that would be built within 2 years or so or existing space or available space within 2 years. Usually.
I noticed the other day construction and renovation beginning on the "Lee Comer Multiplex" at 509 S. Edgeworth St. There was also a banner displayed on the side of the building announcing the multiple restaurants and retail opening in Fall 2016. I thought this project was dead in the water but obviously it is moving forward at this time. Here is an old article to help refresh the memory of this particular project.
They can be pitched up and down all day and night. But they're not going to sign up for a speculative 25 floor office tower that wants a 70% leased out building. First, that would be a huge relocation. Most likely incentives would be involved. If a company relocates to Greensboro in a speculative building, it's going to be a 7 floor or so building that would be built within 2 years or so or existing space or available space within 2 years. Usually.
Quote:
Originally Posted by carolinadawg2
Most, if not all, companies looking to relocate are going to want immediate occupancy. They aren't going to wait years for a building to be built.
Both of you missed the point. I wasn't referring to the task of occupancy rather the omission of recruiting companies from elsewhere.
Both of you missed the point. I wasn't referring to the task of occupancy rather the omission of recruiting companies from elsewhere.
Who says there being omitted? My point is, you can attempt to recruit new companies from out of the area to Roy's new building all you want, but your chances of finding one who will sign up for a building years away from reality is almost zero.
Who says there being omitted? My point is, you can attempt to recruit new companies from out of the area to Roy's new building all you want, but your chances of finding one who will sign up for a building years away from reality is almost zero.
On top of setting the bar to 70%.
For a building that tall, I would think 30% leased out to start construction would be much more realistic. 70% occupancy just sounds like he's not serious about it to begin with, to me.
Who says there being omitted? My point is, you can attempt to recruit new companies from out of the area to Roy's new building all you want, but your chances of finding one who will sign up for a building years away from reality is almost zero.
For a building that tall, I would think 30% leased out to start construction would be much more realistic. 70% occupancy just sounds like he's not serious about it to begin with, to me.
You're pretty much stating what a lot of people are thinking. There are so many reasons why this project is not feasible or credible. Carroll even stated that this project is a dream of his.
I really don't see how any lender is going to be willing to lend him the $100 million+ that it will take to build such a tower in a market like Greensboro. I just can't see it happening.
Who says there being omitted? My point is, you can attempt to recruit new companies from out of the area to Roy's new building all you want, but your chances of finding one who will sign up for a building years away from reality is almost zero.
Go back and read gsoboi's post where I bolded, he only talks about Triad companies and doubts they would locate. You're making this waaaay too difficult.
Go back and read gsoboi's post where I bolded, he only talks about Triad companies and doubts they would locate. You're making this waaaay too difficult.
Difficult? How so? His point (and mine) stands...your supposition that companies from outside G'boro can be the entities that pre-lease enough space to trigger construction is not a likely scenario. Its far more likely (though still unlikely) that a local company or companies will pre-lease that much space.
Thats actually pretty simple. Not difficult at all. Assuming one has any knowledge of real estate and economic development, that is.
By the way, it wasn't gsoboi's post you bolded, it was Charlotte485's.
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