CSNbbs

Considering building new headquarters here to consolidate their offices or leaving all together. Anyone know what's up?

It would be huge if they built their own downtown tower or they may decide to be the main anchor for one Beale. Maybe this is why there is talks of Carlisle Corp wanting to build a 3rd tower

they need 250-300,000 square feet of space...and the tallest building in Memphis, 100 N Main, has 400,000 square feet, and an owner trying to redevelop it...hmmmm, give em a PILOT and a low cost rent...or they can be the anchor tenant in One Beale.

I doubt they would entertain 100 north main. I think they probably have some gentlemans agreement to be the sole anchor of one Beale

I assume that there will be talks about One Beale if they're willing to look at Coca Cola's former headquarters for its IT department in downtown Atlanta.

Getting Service Master to One Beale would be like killing two birds w/ one stone. Memphis would retain the HQ's and help get One Beale off the ground.

Supposedly Atlanta is in the running, but I think this is just a move to get another tax break.


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I think the Atlanta thing was seriously just a ploy to put out to the media that they are looking not just in Memphis. They said in the press release that they want to attract and retain millennials. Memphis has a huge influx of millennials and they are all moving downtown

(03-30-2016 08:27 PM)tigergreen Wrote: [ -> ]Supposedly Atlanta is in the running, but I think this is just a move to get another tax break.


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Read this in the business journal a few days ago and that is the first thing that came to mind.

The current CEO like most CEOs is trying to sell to millenals - he's worried about an uber type disruptor as many old brick and mortar companies are.

He is also probably worried about the fact that millenals make up around 1/3 of the work force and they aren't buying homes.

They have had a revolving door of executives so we will see if the current guy sticks around long enough to see this through

The story in the Business Journal was interesting, citing their desire to have a facility that would attract 20-30 year old workers.

Also interesting fact in that article, Donald Trump was largely responsible for Holiday Inn selling out to Bass and moving to Atlanta (in addition to screwing the Memphis Showboats and USFL).

Thanks Donald. Had some good friends that lost HI jobs because they didn't want to leave Memphis.

(03-31-2016 09:46 AM)Tiger46 Wrote: [ -> ]The story in the Business Journal was interesting, citing their desire to have a facility that would attract 20-30 year old workers.

Also interesting fact in that article, Donald Trump was largely responsible for Holiday Inn selling out to Bass and moving to Atlanta (in addition to screwing the Memphis Showboats and USFL).

Thanks Donald. Had some good friends that lost HI jobs because they didn't want to leave Memphis.

Mike Rose sealed the deal for HI. He really hurt his hometown with that move, but hey, he made a killing at he bank. So I guess that makes things okay in his mind.

I think Servicemaster is using the move as leverage. They will be able to get anything they want by threatening to move. Several local companies/non-profits have done this in the past with success. I worked at one company here in Memphis that built a new manufacturing plant in Arkansans. Now they use the threat of moving other local plants and HQ to Arkansas every time they need something from the city or county.

(03-31-2016 10:19 AM)tigerlands Wrote: [ -> ]

(03-31-2016 09:46 AM)Tiger46 Wrote: [ -> ]The story in the Business Journal was interesting, citing their desire to have a facility that would attract 20-30 year old workers.

Also interesting fact in that article, Donald Trump was largely responsible for Holiday Inn selling out to Bass and moving to Atlanta (in addition to screwing the Memphis Showboats and USFL).

Thanks Donald. Had some good friends that lost HI jobs because they didn't want to leave Memphis.

Mike Rose sealed the deal for HI. He really hurt his hometown with that move, but hey, he made a killing at he bank. So I guess that makes things okay in his mind.

I think Servicemaster is using the move as leverage. They will be able to get anything they want by threatening to move. Several local companies/non-profits have done this in the past with success. I worked at one company here in Memphis that built a new manufacturing plant in Arkansans. Now they use the threat of moving other local plants and HQ to Arkansas every time they need something from the city or county.

Memphis needs to step up.

Dallas, Frisco, Plano are drawing in corporate HQs at a dizzying pace. There are more corporate HQs here than any other city.

And they have real estate standing just like they are looking for. And let's not get started on the work force.

(03-31-2016 10:19 AM)tigerlands Wrote: [ -> ]

(03-31-2016 09:46 AM)Tiger46 Wrote: [ -> ]The story in the Business Journal was interesting, citing their desire to have a facility that would attract 20-30 year old workers.

Also interesting fact in that article, Donald Trump was largely responsible for Holiday Inn selling out to Bass and moving to Atlanta (in addition to screwing the Memphis Showboats and USFL).

Thanks Donald. Had some good friends that lost HI jobs because they didn't want to leave Memphis.

Mike Rose sealed the deal for HI. He really hurt his hometown with that move, but hey, he made a killing at he bank. So I guess that makes things okay in his mind.

I think Servicemaster is using the move as leverage. They will be able to get anything they want by threatening to move. Several local companies/non-profits have done this in the past with success. I worked at one company here in Memphis that built a new manufacturing plant in Arkansans. Now they use the threat of moving other local plants and HQ to Arkansas every time they need something from the city or county.

Yes Memphis was hurt when HI left for Atlanta but I think Mike Rose did Memphis right.

HI was a fading brand and Rose was still in Memphis with all of the Promus companies. Harrah's Entertainment, Embassy Suites Hotels Homewood Suites, and Hampton Inns.

Promus Companies decided to split the gambling interests it owned from its tourist and business travel hotel chains, and in 1995 spun off its non-gambling assets to the stand-alone Promus Hotel Corporation. Promus Companies then changes its name to Harrah's Entertainment.

In September 1997, Doubletree Corporation and Promus announced a merger, retaining the Promus name. Almost exactly two years later, Promus Hotel Corp. was purchased by Hilton Hotels Corporation for $3.1 billion.

Hilton Hotels still has a big jobs footprint in Memphis.

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don't discount Nashville as a strong relocation candidate

i think a lot of people are overreacting about this considering that a ton of large corporations pull this stunt right before their tax freeze agreement expires. Even in the Memphis biz journal the ceo even says Memphis is the leading candidate.

(03-31-2016 06:12 PM)Bathtub Gin Wrote: [ -> ]i think a lot of people are overreacting about this considering that a ton of large corporations pull this stunt right before their tax freeze agreement expires. Even in the Memphis biz journal the ceo even says Memphis is the leading candidate.

Agreed.

I live next door to one of their VPs and he just bought a new house in Germantown. Seems unlikely he'd do that if he knew his employer was moving to a different city.

Yea they relocated all their c level execs down here a few years ago from Chicago

One thing is for sure tho, they absolutely need a new campus. They are bursting at the seams at all 5 of their office buildings

(03-31-2016 10:05 PM)Bathtub Gin Wrote: [ -> ]One thing is for sure tho, they absolutely need a new campus. They are bursting at the seams at all 5 of their office buildings

I really hope they stay in town. I have heard, as you say, that they need a bigger place. I wish they could stay in that Popular/Ridgeway area. Tts good for the city to have them squarely in Memphis proper.

They won't stay over there because there isn't a vacant building big enough to consolidate all their offices in that area. Plus they can't build in that area because there is no land available. Based on their millennial comment, the logical landing spot for them is downtown.