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The point is misplaced because this thread is about Epic. It could be appropriate if Epic ever considered downtown Raleigh at all, but they didn't - their original plan was to build a new HQ in Crossroads.
Even given the above, the point is off-base because it assumes the reason for this decision would have been because of what happened downtown last year - an assumption which is a bit of a leap. Most signs in the real estate market seem to point to Downtown Raleigh continuing to be hot once COVID is over. Some business owners or residents may see fit to leave but it's a small portion of the total and demand is high enough that it won't be much of a blip in the long run.
Some stores have closed or been slow to go back to normal after the protests, but that is more a product of COVID than the fear of continued unrest.
Well I guess you didn't bother to read through the entire thread enough to notice that I was responding to the following post, so it is not misplaced within that context.
Quote:
Originally Posted by raleighsocial
Would have been sweet if they had a high rise office in downtown Raleigh by the Convention Center and hosted online game competitions at the Convention Center next door. Trading one suburban corporate campus with a forest of asphalt surface parking for a newer one with a forest of asphalt surface parking is an 'eh' for me.
Epic will certainly bring on a developer, but figured a more substantial arrangement would have been set up beforehand as a partnership to acquire the property if that's the direction they were looking to go.
But I'm no CRE expert, so don't listen to me...
Not necessarily. This depends on Epic’s vision for the site.
If they intend to use the entire property for their sole use, they would retain an architectural firm that would handle everything turnkey, including site planning, demolition, construction design and construction management, whether it’s one phase or multiple phases over time. The architectural firm would handle the selection of the general contractor(s). There would be no need to bring in an outside developer if this is the route that they take.
You're bringing random damn political quips into a thread about a gaming company buying a mall. It's misplaced, as several others have already mentioned.
Not necessarily. This depends on Epic’s vision for the site.
If they intend to use the entire property for their sole use, they would retain an architectural firm that would handle everything turnkey, including site planning, demolition, construction design and construction management, whether it’s one phase or multiple phases over time. The architectural firm would handle the selection of the general contractor(s). There would be no need to bring in an outside developer if this is the route that they take.
My fault for using imprecise language...I just meant that they would definitely bring in someone from the outside to handle the design and buildout.
Not necessarily. This depends on Epic’s vision for the site.
If they intend to use the entire property for their sole use, they would retain an architectural firm that would handle everything turnkey, including site planning, demolition, construction design and construction management, whether it’s one phase or multiple phases over time. The architectural firm would handle the selection of the general contractor(s). There would be no need to bring in an outside developer if this is the route that they take.
That isn’t how that works usually. And in fact they used a developer for the previous buildings they are in now.
That isn’t how that works usually. And in fact they used a developer for the previous buildings they are in now.
I have 40 years in the commercial construction industry and every midsize to large size corporation that I worked with, that purchased their own land directly (or purchased an existing building directly) for their own use, did exactly as I described. Most had internal Facilities Departments that interfaced directly with the architect; some were large departments and some were small.
The fact that Epic used a developer previously (when they were much smaller) makes no difference, and my guess is that Capital Associates played a broker role in this transaction only. If Epic decided to allocate part of the property to “non-core” uses such as a mixed use development, then yes, it would make sense to bring in a developer who has experience in those types of projects.
J Davis Architects is Epic’s current architect of record, and they handled the design and construction management for the Crossroads Boulevard headquarters expansion.
Per JDavis website:
Epic Games is expanding its Cary, North Carolina headquarters to include a new facility that will provide additional work and recreation space for employees. Epic’s newest addition to its campus will be located at the corner of Crossroads Boulevard and Jones Franklin Road, a property that Epic has owned since 2015. In collaboration with JDavis for architectural design and JLL for construction project management, Epic is working with the Town of Cary to ensure compliance with applicable ordinances and regulations.
“We are elated that Epic Games is expanding their Cary headquarters,” said Harold Weinbrecht, Mayor of the Town of Cary. “We know that Epic could locate anywhere in the world, and we’re grateful that they’ve chosen to continue to call Cary home.” “Our entire team looks forward to helping Epic shape the future of the workplace here in Cary,” said JDavis CEO and Partner Neil T. Gray. “We’re proud to help create a new space that’s reflective of the studio’s values and ambitions, as well as to deserving of their community and creative spirit.”
Last edited by NC Observer; 01-05-2021 at 07:35 PM..
I have 40 years in the commercial construction industry and every midsize to large size corporation that I worked with, that purchased their own land directly (or purchased an existing building directly) for their own use, did exactly as I described. Most had internal Facilities Departments that interfaced directly with the architect; some were large departments and some were small.
The fact that Epic used a developer previously (when they were much smaller) makes no difference, and my guess is that Capital Associates played a broker role in this transaction only. If Epic decided to allocate part of the property to “non-core” uses such as a mixed use development, then yes, it would make sense to bring in a developer who has experience in those types of projects.
J Davis Architects is Epic’s current architect of record, and they handled the design and construction management for the Crossroads Boulevard headquarters expansion.
Per JDavis website:
Epic Games is expanding its Cary, North Carolina headquarters to include a new facility that will provide additional work and recreation space for employees. Epic’s newest addition to its campus will be located at the corner of Crossroads Boulevard and Jones Franklin Road, a property that Epic has owned since 2015. In collaboration with JDavis for architectural design and JLL for construction project management, Epic is working with the Town of Cary to ensure compliance with applicable ordinances and regulations.
“We are elated that Epic Games is expanding their Cary headquarters,” said Harold Weinbrecht, Mayor of the Town of Cary. “We know that Epic could locate anywhere in the world, and we’re grateful that they’ve chosen to continue to call Cary home.” “Our entire team looks forward to helping Epic shape the future of the workplace here in Cary,” said JDavis CEO and Partner Neil T. Gray. “We’re proud to help create a new space that’s reflective of the studio’s values and ambitions, as well as to deserving of their community and creative spirit.”
I hadn’t seen that they hired JLL of late. So if that’s the case maybe they will go their own way. Having a large well respected local architecture firm as well as one of the largest facility companies in the US and up there worldwide is certainly a good combination.
I don’t know if JLL is managing their property full time or not.
In the case of the Crossroads Blvd. expansion, they were apparently brought in as a construction manager for the project, working under JDavis. Many large architectural firms offer this service in house, while others may outsource this function. My experience has been that the project architectural firm has also handled the construction management (for an additional fee of course).
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