Trepidation regarding the suburban office market has risen in recent years as a number of the country’s largest corporations have fled their suburban headquarters for urban office space. Millennials are thought to be the driving force behind this migration as companies continue to find top talent in larger, urban environments. Businesses want to either hire or sell to millennials, which is why more firms are beginning to relocate.
Great takeaways as Raleigh and the Triangle grow at over 63 people a day. Add as many lanes as you like, you’ll just get more traffic and congestion. To toll or not toll? This and more transit thoughts.
Popular global co-working space provider WeWork has confirmed plans to plant a flag in downtown Raleigh. WeWork will be the new anchor office tenant at the 10-story One Glenwood building breaking ground in the fall. The company confirms it has signed a lease for 81,032 square feet.
Action and activity has returned to the hulking, seven-story, historic Chesterfield building on Main Street in downtown Durham. Duke University started moving its first wave of research scientists and staffers into the former cigarette manufacturing plant’s newly renovated space in late July.
In Raleigh’s arsenal of incentives to help entice companies to relocate or expand in the city, there are funds for big companies bringing millions in new investment dollars, but not much for the small business owners that make up a big piece of the city’s economy. Under a new grant policy proposed, called jobsRaleigh, the City Council is considering setting aside $100,000 in its budget to specifically target small businesses seeking to grow.
Private developers in downtown Raleigh delivered more than $205.3 million in new building projects in 2016. And according to the newly released State of Downtown Raleigh 2017 report there’s at least another $1.2 billion in both public and private investment that’s planned or already under construction over the next three to four years.