U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Greensboro, Winston-Salem, High Point
 [Register]
Greensboro, Winston-Salem, High Point The Triad Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-09-2015, 09:11 PM
 
12,577 posts, read 13,309,010 times
Reputation: 8896

Advertisements

While the prospect is exciting (I own a condo downtown so guess where my motivation lies) the banter has become boorish.
Reply With Quote Quick reply to this message

 
Old 07-10-2015, 05:53 PM
 
Location: Greensboro, NC USA
4,583 posts, read 4,402,977 times
Reputation: 1488
Quote:
Originally Posted by carolinadawg2 View Post
Maybe because of my 30 year career in commercial real estate and economic development. Maybe because I understand basic business concepts and economics. Maybe because I understand companies have fiduciary responsibilities to their owners to maximize ROI. Maybe because I'm able to calculate percentages. None of which you seem to have any grasp of.
It would actually be less than 50% The rate is currently in the low 20s. Carroll said this project would likely be in the high 20s. But even if it were 50% so what. 50% of $2 is $1. The dollar amount per square footage is more important than the percentage.

Understanding basic business concepts and economics don't mean anything. Sometimes Developers and companies take calculated risks for further growth. Sometimes certain business models work best in a downtown location just like some business models work best near the airport. If you know anything about economics you know there are other factors involved than just leasing rates which determines where a company locates or relocates. As I said before its all about location. Its the same reason I chose to pay higher rent living in a downtown apartment even though I know I can pay less rent per square footage if I lived in a similar quality complex in the suburbs. The Business Journal reported that a CPA firm is relocating to downtown Greensboro. Why would a CPA firm located in the Green Valley Office Park where leasing rates are lower move to a high-rise office building in downtown Greensboro where the rates are higher? That goes against your logic. There goes your basic understanding of business concepts and economics.

Last edited by gsoboi78; 07-10-2015 at 06:38 PM..
Reply With Quote Quick reply to this message
 
Old 07-10-2015, 05:59 PM
 
Location: Greensboro, NC USA
4,583 posts, read 4,402,977 times
Reputation: 1488
Quote:
Originally Posted by NC-guy View Post
Maybe because Roy Carroll himself said it may not be feasible?

EDIT: It's worth noting that just like the Triumph Center we are now several pages of posts (14 and counting) with out an official proposal, site, formal design, zoning request or even word from the Developer in question that this has moved beyond just an idea stage.
Its because certain ones like to have the last word BTW Carroll NEVER said the project may not be feasible. He was referring to the design options. He said he may not be able to afford the more expensive curved glass design. What he did say is that he wouldn't start construction until he signs a major tenant.
Reply With Quote Quick reply to this message
 
Old 07-10-2015, 07:15 PM
 
Location: Southport
4,639 posts, read 4,811,900 times
Reputation: 3417
Quote:
Originally Posted by gsoboi78 View Post
It would actually be less than 50% The rate is currently in the low 20s. Carroll said this project would likely be in the high 20s. But even if it were 50% so what. 50% of $2 is $1. The dollar amount per square footage is more important than the percentage.

Understanding basic business concepts and economics don't mean anything. Sometimes Developers and companies take calculated risks for further growth. Sometimes certain business models work best in a downtown location just like some business models work best near the airport. If you know anything about economics you know there are other factors involved than just leasing rates which determines where a company locates or relocates. As I said before its all about location. Its the same reason I chose to pay higher rent living in a downtown apartment even though I know I can pay less rent per square footage if I lived in a similar quality complex in the suburbs. The Business Journal reported that a CPA firm is relocating to downtown Greensboro. Why would a CPA firm located in the Green Valley Office Park where leasing rates are lower move to a high-rise office building in downtown Greensboro where the rates are higher? That goes against your logic. There goes your basic understanding of business concepts and economics.
"He said office rents downtown are closer to $20 a square foot, and he would like them to rise to the high $20s or low $30s."

http://www.greensboro.com/business/c...d2946aebc.html

OK, you know more about it than I do. Have fun.
Reply With Quote Quick reply to this message
 
Old 07-10-2015, 08:56 PM
 
Location: Greensboro, NC USA
4,583 posts, read 4,402,977 times
Reputation: 1488
Quote:
Originally Posted by carolinadawg2 View Post
"He said office rents downtown are closer to $20 a square foot, and he would like them to rise to the high $20s or low $30s."

Carroll may build city's tallest office tower (UPDATED) - Greensboro News & Record: Business

OK, you know more about it than I do. Have fun.
He said "OR" so we really don't know exactly what its going to cost per square footage do we? percentage is irrelevant. This is about whether or not any company in Greensboro can afford $28 or $30 (give or take a few dollars) per square foot.
Reply With Quote Quick reply to this message
 
Old 07-10-2015, 09:59 PM
 
12,577 posts, read 13,309,010 times
Reputation: 8896
Quote:
Originally Posted by gsoboi78 View Post
He said "OR" so we really don't know exactly what its going to cost per square footage do we? percentage is irrelevant. This is about whether or not any company in Greensboro can afford $28 or $30 (give or take a few dollars) per square foot.
Why would it be limited to a company IN Greensboro?
Reply With Quote Quick reply to this message
 
Old 12-28-2015, 02:21 PM
 
7 posts, read 8,470 times
Reputation: 13
Are there any renderings/drawings of the Project 561 building. I know I read where one drawing shows a building with a spire top and the other had curved glass design that probably was more costly. I would love to see proposed drawings if possible.
Reply With Quote Quick reply to this message
 
Old 12-28-2015, 05:20 PM
 
Location: Greensboro, NC USA
4,583 posts, read 4,402,977 times
Reputation: 1488
So far there aren't any renderings, just simple sketches Roy Carroll shared with a group of businessmen. Carroll has to get enough tenants lined up to make this project work. Greensboro is long overdue for another towers and I hope his plan moves forward
Reply With Quote Quick reply to this message
 
Old 12-28-2015, 06:18 PM
 
Location: Washington DC
3,813 posts, read 3,307,478 times
Reputation: 2696
No offense to Greensboro, but the skyline is no more impressive than Durham & Durham with its not tall tower will probably look more impressive than Greensboro. Winston-Salem has a surprisingly large skyline for a city its size.

The reason I mention that is if Greensboro got a decent sized high rise to pull the skyline together, NC would have an impressive collection of large downtowns between Charlotte, Raleigh, Winston, Durham & Greensboro
Reply With Quote Quick reply to this message
 
Old 12-29-2015, 04:42 AM
 
Location: Greensboro, NC USA
4,583 posts, read 4,402,977 times
Reputation: 1488
I think Greensboro's skyline needs improvement. The reason Charlotte and Winston-Salem have superior skylines is because of their past history of being financial centers. Raleigh is the state capitol so it's a center of commerce. Greensboro and Durham were neither.

Last edited by gsoboi78; 12-29-2015 at 04:52 AM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Greensboro, Winston-Salem, High Point
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top