PHILADELPHIA | Highrise Development Thread IX - Page 545

summersm343 · #**10881** Posted **Mar 18, 2016, 3:10 AM**

Quote:

Originally Posted by thisisforreal

How much of these news leaks like Aramark are negotiating tactics for favorable lease terms? If you occupy 350,000 in one building, how much can you push below the prevailing price per sq ft?

It's likely what is it. Most likely scare tactics to get tax breaks and a lower lease cost.

skyscraper · #**10882** Posted **Mar 18, 2016, 12:07 PM**

Quote:

Originally Posted by Larry King

no one likes suburban office as an asset class anymore.

That's like Yogi Berra saying "No one goes to that restaurant anymore because it's always too crowded."
Someone clearly still likes suburban offices as an asset class. LPT have a potential buyer don't they?

1487 · #**10883** Posted **Mar 18, 2016, 12:43 PM**

Quote:

Originally Posted by summersm343

This would suck and would be devastating for the city. Hopefully they stay. Would suck to lose such a large tenant and a Fortune 500 company in the city especially after all the bullshit recently. Just recently, Sonoco has left for Delaware County, DOW left the city for Delaware County, BNY Mellon is seriously shrinking its presence in the city or leaving the city entirely, and Pep Boys has been recently acquired and could be relocating.

A lot of big blows, hopefully Aramark stays. This is just another sign that the lazy good for nothing morons sitting in city council need to get their heads out of their asses and do something quick to pass some more business friendly taxes in Philadelphia or this will continue to happen. The state also needs to get it's act together to make the state more business friendly.

All in all, this is the best to worst case scenario for the Aramark situation:

1. Stay in Aramark tower
2. Anchor a new tower in Center City
3. Anchor Cira II or another Schuylkill Yards tower
4. Go to 2400 Market or old GSK tower
5. Navy Yard
6. Anchor a new tower in Camden
7. Campbell's Campus
8. PA burbs
9. NJ burbs
10. DE burbs
11. Leave the region entirely.

Praying the stay in the city and hopefully in Center City. Praying times two they don't leave the region.

When will you get the fact that a company of this size has leverage and will always use it no matter where they are located? Are you really naive enough to think Aramark wouldn't make these statements if only Philly had some mythical low tax rate? When you have cities and states throwing millions of incentives around ANY major company is going to conduct due diligence when a lease is up unless they are just totally committed to a particular region for other reasons. Even if Philly had whatever tax rate you envision they can't compete with what NJ is offering companies to move to camden. It's corporate welfare, not competition based on business friendly tax rates. NJ is essentially paying companies to move into Camden- this is from a state that is hardly known as being business friendly.

Mappy · #**10884** Posted **Mar 18, 2016, 12:44 PM**

Just going to leave this right here...

(full disclosure; this is in Cherry Hill, NJ... but still)

Arch+Eng · #**10885** Posted **Mar 18, 2016, 1:00 PM**

Cherry Hill is doing it right.

Cro Burnham · #**10886** Posted **Mar 18, 2016, 1:57 PM**

Seriously guys, aren't these Wendy's jokes a bit juvenile???

Say what you will about Wendy's, at least they'll never ask for a government grant to locate in Philly. Tho they really deserve one.

jsbrook · #**10887** Posted **Mar 18, 2016, 2:23 PM**

Quote:

Originally Posted by 1487

When will you get the fact that a company of this size has leverage and will always use it no matter where they are located? Are you really naive enough to think Aramark wouldn't make these statements if only Philly had some mythical low tax rate? When you have cities and states throwing millions of incentives around ANY major company is going to conduct due diligence when a lease is up unless they are just totally committed to a particular region for other reasons. Even if Philly had whatever tax rate you envision they can't compete with what NJ is offering companies to move to camden. It's corporate welfare, not competition based on business friendly tax rates. NJ is essentially paying companies to move into Camden- this is from a state that is hardly known as being business friendly.

Stop starting fights with your dogmatism and continued willful misunderstanding of what people on these forums are actually saying. As well as the reality of Philly tax issues, which hurt Philly business and preferentially push businesses to the burbs and other nearby environs (but certainly are not close to the only factor in company's decision-making - or threats - on where to locate)

Outta here · #**10888** Posted **Mar 18, 2016, 2:23 PM**

Quote:

Originally Posted by Cro Burnham

Seriously guys, aren't these Wendy's jokes a bit juvenile???

Say what you will about Wendy's, at least they'll never ask for a government grant to locate in Philly. Tho they really deserve one.

I blame it all on Henry Ford ........

1487 · #**10889** Posted **Mar 18, 2016, 3:24 PM**

Quote:

Originally Posted by jsbrook

Stop starting fights with your dogmatism and continued willful misunderstanding of what people on these forums are actually saying. As well as the reality of Philly tax issues, which hurt Philly business and preferentially push businesses to the burbs and other nearby environs (but certainly are not close to the only factor in company's decision-making - or threats - on where to locate)

There is no fight. The inference that Aramark wouldn't consider any other options if only the idiots in City Hall slashed taxes is a gross oversimplification. That's what I'm saying. You attempt to insult, marginalize or make idiotic wendy's references all day- doesn't change anything.

1487 · #**10890** Posted **Mar 18, 2016, 3:25 PM**

Quote:

Originally Posted by Cro Burnham

Seriously guys, aren't these Wendy's jokes a bit juvenile???

Say what you will about Wendy's, at least they'll never ask for a government grant to locate in Philly. Tho they really deserve one.

Good one!

Knight Hospitaller · #**10891** Posted **Mar 18, 2016, 3:45 PM**

Quote:

Originally Posted by Cro Burnham

Seriously guys, aren't these Wendy's jokes a bit juvenile???

Say what you will about Wendy's, at least they'll never ask for a government grant to locate in Philly. Tho they really deserve one.

Well, they're coming to Broad and Snyder, so progress marches on:

http://www.passyunkpost.com/2016/03/17/p...at-zoning-meeting-on-tuesday/#more-26658

1487 · #**10892** Posted **Mar 18, 2016, 3:49 PM**

Quote:

Originally Posted by Knight Hospitaller

Well, they're coming to Broad and Snyder, so progress marches on:

http://www.passyunkpost.com/2016/03/17/p...at-zoning-meeting-on-tuesday/#more-26658

I love it! I'm not sure who takes the title for being the most clever- but with posts like that you're surely in the running.

In less interesting, non stupid Wendy's inside joke related news- Philly is in the running for 200 job HQ office.

http://www.philly.com/philly/business/20...y__Cherry_Hill_for_new_corporate_HQ.html

Not as interesting or funny as stupid ass "jokes", but still worth a read. I'll let you kids get back to it......

Knight Hospitaller · #**10893** Posted **Mar 18, 2016, 4:36 PM**

Quote:

Originally Posted by 1487

I love it! I'm not sure who takes the title for being the most clever- but with posts like that you're surely in the running.

In less interesting, non stupid Wendy's inside joke related news- Philly is in the running for 200 job HQ office.

http://www.philly.com/philly/business/20...y__Cherry_Hill_for_new_corporate_HQ.html

Not as interesting or funny as stupid ass "jokes", but still worth a read. I'll let you kids get back to it......

I figured this one was at least as "general developments" related as anything else.

Cro Burnham · #**10894** Posted **Mar 18, 2016, 5:05 PM**

Who does this remind folks of?

Jon Lovitz as Annoying Man

1487 · #**10895** Posted **Mar 18, 2016, 7:13 PM**

Quote:

Originally Posted by Cro Burnham

Who does this remind folks of?

Jon Lovitz as Annoying Man

I know you are annoying- that's for sure. But everyone has to have a domain where they can feel like they are significant. This is obviously yours because you spend a LOT of time here and take yourself pretty seriously. But with all your insight and maturity, I see why you are loved round these parts. You are an inspiration and your in depth knowledge of all the pertinent issues never ceases to amaze. If tried to summarize all I've learned from your posts I'd be here all day..........

To make life easier I'll just run my opinions by you first to see if they are acceptable on these forums. I know that is the foolproof way to get a seat at the cool kids table.

Insoluble · #**10896** Posted **Mar 18, 2016, 8:11 PM**

Ugh. You know, as much as I can see why a lot of people give 1487 flack for argumentative posts, he is not the person being annoying in this conversation. The Wendy's thing, it's kinda stale. It's like the sad kid 7th grader who keeps trying to make friends by repeating the same bad jokes. Can we give it a rest?

As for Aramark, I too seriously hope they don't leave. I also hope we don't stoop to corporate welfare to try to keep them here. I'm sure that across the board tax reform would be a good thing for this city, and the current proposal to decease certain business taxes while simultaneously increasing commercial property taxes seems like it could be a good one. But at the same time we should at least happy that the city had a net increase of jobs for something like the 7th year in a row and that we have more jobs in the city now than at any time in the past 15 years. (And that's not all just Eds and Meds, it's across the board for most sub sectors including Professional and Business Services. The only sectors to shrink were manufacturing, information, and government.)

jjv007 · #**10897** Posted **Mar 18, 2016, 11:25 PM**

The Cro Burnham-1487 battles are legendary.

Cro Burnham · #**10898** Posted **Mar 18, 2016, 11:51 PM**

Quote:

Originally Posted by jjv007

The Cro Burnham-1487 battles are legendary.

Legendarily stupid, I admit.

jsbrook · #**10899** Posted **Mar 19, 2016, 12:28 AM**

Quote:

Originally Posted by 1487

There is no fight. The inference that Aramark wouldn't consider any other options if only the idiots in City Hall slashed taxes is a gross oversimplification. That's what I'm saying. You attempt to insult, marginalize or make idiotic wendy's references all day- doesn't change anything.

Who said anything about Wendy's in relation to this? The point is that no one said Aramark wouldn't consider other options if City Hall slashes taxes. So you are attempting to argue a point no one made for what? Just to make yourself heard??

summersm343 · #**10900** Posted **Mar 19, 2016, 1:38 AM**

Element mulls Center City, Cherry Hill for spinoff's HQ

Quote:

Element Financial Corp. is considering locations in Center City and Cherry Hill for the headquarters of the asset-management firm that will be formed when the Toronto-based company is split in two this year.

Element Commercial Asset Management, as the independently traded firm is to be known, may also opt for space at a building that the company owns in Sparks, Md., north of Baltimore, said Don Campbell, chief executive officer of the company's U.S. operations.

The commercial-finance business of about 200 employees will be moving from the Horsham Business Center in Montgomery County.

"We really want a bigger, more prestigious location," Campbell said.

Initially, Element will be seeking about 40,000 square feet of office space, but expected acquisitions could drive more demand, he said. The company expects to choose a location within 30 days and has been getting "appropriate attention" from city officials in Philadelphia and Cherry Hill, Campbell added.

Read more at http://www.philly.com/philly/business/20...ew_corporate_HQ.html#sxX0FZ4fDU1tMKY9.99