Quote:
Originally Posted by Gee32
Does anyone have any update on the CBD's office vacancy and the overall market? I've noticed that 1010 common is going under renovation and the old Charity Hospital building which is 1,000,000 Square feet will be mostly filled by Tulane and some CoWorking space. Could 1010 common be the new home for First Horizon's bank regional HQ? In most cities when large buildings that are being renovated or filled there is usually an announcement of a new company to the area or new office space is planned and or built. so is that the case for Nola? Also is there another office tower in Nola that can house a major office job announcement, of lets say 500-3000 jobs? Seems to me Nola Office space is getting slim quicker.
|
Seems like we’re seeing the last chunks of office space consolidation with new hospitality/residential projects in the old Whitney Bank building, 1010 Common, 1550 Poydras, and 1515 Poydras. Not sure what other large office spaces are left to be converted, but without large local expansions and no big new projects being announced, the office market will likely stay stagnant as is... DXC still has a lot of room to grow in their building with 400 of 2000 promised jobs filled so far.
I imagine First Horizons will just use the custom built space IberiaBank already built in the Pan Am building. Would be surprised to see any major local expansion in the near future... and when banks like this merge you’re lucky to see no relocation/contraction in terms of jobs and rented office space.