...into the 'burbs.
And the beat goes on:
Adecco Group, which completed its acquisition of MPS Group Inc. on Tuesday, is committed to remaining a major employer in Jacksonville. But the international staffing company probably won’t be as visible on Jacksonville’s skyline as MPS has been.
MPS’s information technology subsidiary, Modis, has its name on the signature 35-story building in downtown Jacksonville, where MPS was headquartered. But MPS’s lease in the building expires in March 2011, and Adecco is already considering a move to a less costly building in the suburbs when the lease is up.
“In all likelihood, we’re leaning toward a move outside of downtown,†said Tig Gilliam, CEO of Adecco North America.
Gilliam is visiting Jacksonville this week to meet with the former MPS employees, who are now part of Adecco after the $1.3 billion buyout was finalized. He said in an interview today that no decisions have been made on office space, but Adecco will base its decision on finances.
“We have to make this work for Adecco shareholders,†he said.
MPS employs about 375 people in the Modis building, where it occupies five and a half floors. Gilliam has held meetings with the company’s Jacksonville employees and also held teleconferences for MPS’ other 8,000 workers in other locations.
“As of Wednesday, we really began the education process for everyone about what the two companies bring together,†he said.
Adecco is based in Zurich and has more than 5,700 offices in 60 countries. Its Jacksonville operation will be part of Adecco North America, which is based in Melville, N.Y. But it will be a significant location for Adecco, Gilliam said.
MPS provided staffing services for several professional occupations under different brand names. Gilliam said the Modis information technology business, the Accounting Principals finance and accounting business and the Special Counsel legal business will be merged with existing Adecco businesses. But the major office operations for those businesses will be based in Jacksonville.
“From a business support point of view, this is our specialty staffing support operation,†he said.
Like MPS, Adecco operates its businesses under many brand names, and Gilliam said no decisions have been made about what brands will remain after the merger.
Once the merger was completed Tuesday, MPS Chairman Derek Dewan, CEO Timothy Payne and Chief Financial Officer Robert Crouch left the company. But most of the other Jacksonville employees will remain. Gilliam can’t say that 100 percent of the 375 employees will remain, because of business conditions or other organizational factors. But he said “I expect that number to be at or above†375 employees in Jacksonville.
It’s also too early to say what will happen with some of MPS’s community sponsorships. The MPS Group Championships women’s tennis tournament in April in Ponte Vedra Beach will continue under that name this year, but the company is not sure about the name for the 2011 tournament.
But Gilliam expects Adecco to continue to have a strong level of community involvement, just as MPS has done.
“I think that is one of those things where our two companies are similar,†he said.
http://jacksonville.com/business/2010-01-21/story/adecco_deal_likely_means_move_out_of_downtown_for_modis
that sucks.
(ha).
that about sums it up.
Damn, right after the good news from Peyton, this comes along immediately after. The DT vacancy rate is already quite high.
The corporate titans of Jax seem to have little commitment to the city beyond charity/event sponsorships. Maybe I'm wrong, but that is how I perceive it.
damn
Five and a half floors empty, in addition to whatever is already vacant in that building, plus an entirely empty building next door, plus the 20% vacancy throughout DT. The rents DT are already low compared to comparable cities.
Ask the Landing if this is insignificant.
overall occupancy rate of building will be?
So, who gets the naming rights next?
Something that looks better than Modis I hope.
I wonder if MPS will keep its sponsorship of the MPS Terrace Suite in the Stadium? Will it be the "Adecco Terrace Suite" next year?
wouldnt it be slightly costly to change the name on the building? I think it would be easyer and cheeper to leave it up, I just hope it doesnt start a domno effect.
My biggest fear would be 'rent' going up for the rest of the occupients in the building forcing some out. I doubt that would be the case but the chance of it is shuddering.
It is hard to justify to shareholders spending $25/sf in downtown if surburban locations are more like $20/sf...plus parking is free....this is a fight every city in America has.
Well, I guess that sums that up. So what will it take to keep them downtown? If they leave, I wonder if there are any immediate takers to occupy that building and put their signature on it? Oh well, nothing lasts forever.
"HU"
Quote from: tufsu1 on January 21, 2010, 09:27:08 PM
It is hard to justify to shareholders spending $25/sf in downtown if surburban locations are more like $20/sf...plus parking is free....this is a fight every city in America has.
Companies piss away a lot more money than that on BS that serves little or no benefit, except maybe the executives or the board.
I don't know what executive would want to give up a nice, whatever level of a skyscraper office with a killer view for a 3rd story, parking lot or retention pond w/ fountain view.
I damn sure wouldn't!
QuoteMPS’s information technology subsidiary, Modis, has its name on the signature 35-story building in downtown Jacksonville, where MPS was headquartered. But MPS’s lease in the building expires in March 2011, and Adecco is already considering a move to a less costly building in the suburbs when the lease is up.
Maybe they will move but then maybe they are just posturing for a better lease and some incentives from the City. Let's see.
One thing downtown offers is visibility and status which have intangible value marketing the image of the company. Especially as they are catering to professionals. Just the shots of the sign during aerial and skyline shots during sporting events and the impressions made on thousands of daily I-95 drivers is worth something. How many people will know of them as a tenant of a bland office park building surrounded by more bland office buildings?
Good points. We shall see.
Quote from: reednavy on January 21, 2010, 07:26:10 PM
So, who gets the naming rights next?
Based on downtown occupancy I'd say we're down to "LEROY," he's the guy on the 24Th floor that sells Shaklee Vitamins. "THE LEROY BUILDING!" Wow, that sounds hot.
Guess we shouldn't expect "Modis," to appear on the Stadium anytime soon either? It's just as well that they DON'T put their name on the Jaguar Field, since it sounds more like a feminine hygiene product. God knows our City and our team have been flushed down enough toilets this year.
If Peyton just catches onto the LIGHT RAIL LEGACY, building streetcar in downtown, and pushing completion of the Skyway system as called for in 1978, 82, 85, 2002, etc... I think we all would experience a renaissance of downtown as THE happening place in North Florida or South Georgia. OCKLAWAHA
QuoteMaybe they will move but then maybe they are just posturing for a better lease and some incentives from the City. Let's see.
You may be right about the lease, but I don't see the city being able to do much. First, the city is broke already, second, paying incentives simply to stay DT would open the door to EVERY employer DT trying to extort incentives in the same way. If parking were the issue, the city could do something with that, as it did with Stein Mart, but parking doesn't appear to be the issue here.
In reference to my earlier post about Jax corporate citizans not supporting the city's goals, contrast the attitude of Kansas City corporate titans to Jax's. It's a night and day difference.
Quote from: vicupstate on January 22, 2010, 08:23:21 AM
In reference to my earlier post about Jax corporate citizans not supporting the city's goals, contrast the attitude of Kansas City corporate titans to Jax's. It's a night and day difference.
What are the city's goals exactly?
My heart sank when I saw the article in the paper this morning. I know its only 375 jobs, but we can't afford to lose anymore jobs in the downtown. The city should be really trying to encourage them to stay downtown.
Quote from: vicupstate on January 21, 2010, 06:24:00 PM
Damn, right after the good news from Peyton, this comes along immediately after. The DT vacancy rate is already quite high.
The corporate titans of Jax seem to have little commitment to the city beyond charity/event sponsorships. Maybe I'm wrong, but that is how I perceive it.
This is because Jacksonville has spent decades trying to pay companies to come here (JEDC style) instead of trying to attract companies with high quality of life, a well educated workforce and good infrastructure suburban and
urban. But hey it has kept taxes low.
You mean like a Bridgestone tire distribution center that pays 10 dollars an hour?
does anyone know who the next highest tenant is in the building formerly known as modis? I think Deloitte & Touche is in there...that would look quite hilarious on our tallest building with a marquee
Quoteconsidering a move to a less costly building in the suburbs
Considering is NOT moving, so thanks for stirring the pot and getting the muckrakers all up in arms.
Hell yes they are making a public appeal for Eola Capital to make them a deal to stay downtown. Losing anyone from downtown would be a problem, as we are trying to add, not subtract.
It costs thousands to add/remove a sign from a building, I wonder if the shareholders appreciate that expense. When you are multi-billion dollar company, I suppose it does not matter to them. Thankfully, I am not an Adecco stockholder.
QuoteDeloitte & Touche
I am not sure, I believe that D&T has offices off of Belfort, but they do have an accounting and consulting effort, so could be 2 offices. They used to seperate the offices when I was in Atlanta too.
I think they closed or at least radically downsized the Belfort office.
QuoteGuess we shouldn't expect "Modis," to appear on the Stadium anytime soon either? It's just as well that they DON'T put their name on the Jaguar Field, since it sounds more like a feminine hygiene product. God knows our City and our team have been flushed down enough toilets this year.
Ha Ha - unfortunately, Deloitte & Touche looks like a feminine hygiene product also at quick glance - just let the names run together. ;)
Maybe the city, the landlord, & the Jags can get together to incorporate stadium naming rights to be inclusive of this building considering that it's always visible between commercial breaks during games. In the interim, Team Teal could push to get that huge Jag head moved to the top of the building (from the jumbotron) even!
Looks like they're branding as "Deloitte." now but, they're definitely in the modis building
http://www.manta.com/coms2/dnbcompany_pqdhs (ftp://http://www.manta.com/coms2/dnbcompany_pqdhs)
I am sure that Adecco would be approached about if not naming rights, at least continuing Modis' long-standing support of the Jaguars. The last time I saw a comment from Mr. Weaver on the naming rights issue over a year ago, he remarked that he figured the best source for naming rights in the future might be larger foreign companies trying to make their name in the U.S. Who knows; maybe Adecco would be a good match.
I thought KPMG, not D&T, was the Big Four firm in the Modis building. KPMG and other large accounting firms often do have naming rights to buildings in larger cities, so I don't think that would in any way look silly if that scenario ever did happen.
What ever happened to AT&T? In 2008 it was suggested that it was leaving downtown. Did that in fact happen or is it still scheduled to happen?
Looks like KPMG is in there as well. and Ernst & Young but not PriceWaterhouseCoopers :(
Deloitte would be a good brand for the top of that building.
i just think you like saying it.
If they decide to leave downtown I see it having a negative trickle down effect, especially for the nearby dining establishments that rely heavily on lunch time revenue.
I don't know what the new guys have in store for the stadium, but MPS Group offered 3 million a year, 2 years back for stadium naming rights, the Jaguars refused. That was after Accuvue offered even more, but a Jax official F'd up that deal.
As for the terrace suite, I believe the naming rights will not be renewed.
Quote from: jackt on January 22, 2010, 11:09:09 AM
I don't know what the new guys have in store for the stadium, but MPS Group offered 3 million a year, 2 years back for stadium naming rights, the Jaguars refused. That was after Accuvue offered even more, but a Jax official F'd up that deal.
As for the terrace suite, I believe the naming rights will not be renewed.
Probably digressing from what this thread was intended for, but "Maxwell Grounds" sounds pretty good to me.
Quote from: hightowerlover on January 22, 2010, 09:34:31 AM
Looks like KPMG is in there as well. and Ernst & Young but not PriceWaterhouseCoopers :(
PwC is in the Bank of America Tower.
Lots of companies exploring lease options these days given current market conditions. Some may stay put with a lower rent, some may move.
"Probably digressing from what this thread was intended for, but "Maxwell Grounds" sounds pretty good to me.
- genious
Quote from: jackt on January 22, 2010, 11:09:09 AM
I don't know what the new guys have in store for the stadium, but MPS Group offered 3 million a year, 2 years back for stadium naming rights, the Jaguars refused. That was after Accuvue offered even more, but a Jax official F'd up that deal.
As for the terrace suite, I believe the naming rights will not be renewed.
How did they "f up" the deal? I heard they wanted a longer committment than anybody was willing to offer.
Quote from: copperfiend on January 22, 2010, 12:14:32 PM
Quote from: jackt on January 22, 2010, 11:09:09 AM
I don't know what the new guys have in store for the stadium, but MPS Group offered 3 million a year, 2 years back for stadium naming rights, the Jaguars refused. That was after Accuvue offered even more, but a Jax official F'd up that deal.
As for the terrace suite, I believe the naming rights will not be renewed.
How did they "f up" the deal? I heard they wanted a longer committment than anybody was willing to offer.
The Jaguars wanted a 10-year commitment out of any sponsor, as I understand it. A couple of companies, such as Toyota, offered less than 10-year. (This is the first time I heard someone say MPS made an offer.) The word on the Jaguar message board, as I recall, was Acuvue
did offer a deal commensurate with what the Jaguars wanted, but it was leaked in advance and they walked away as a result.
I did hear about Toyota and Acuvue but not sure how accurate they were. I hope they can get a long term commitment from someone but this is a difficult time to do something like that.
I realize the thread is digressing, but since the city makes $0 from nonexistent naming rights now, I say we offer naming rights for $1 to the next big company who builds a skyscraper downtown and chooses Jacksonville as their headquarters.
Quote from: brainstormer on January 22, 2010, 06:23:52 PM
I realize the thread is digressing, but since the city makes $0 from nonexistent naming rights now, I say we offer naming rights for $1 to the next big company who builds a skyscraper downtown and chooses Jacksonville as their headquarters.
simple and brilliant.
Quote from: mySpringfield on January 22, 2010, 06:45:13 PM
Quote from: brainstormer on January 22, 2010, 06:23:52 PM
I realize the thread is digressing, but since the city makes $0 from nonexistent naming rights now, I say we offer naming rights for $1 to the next big company who builds a skyscraper downtown and chooses Jacksonville as their headquarters.
simple and brilliant.
I wonder if Comcast would consider moving in there. I have heard they are having leasing issues off of Southpoint and they have several other offices besides the ones the installers work out of (not practical for them to work out of the Modis building). I'm sure they could fill the 375 person void in the building.
QuoteI'm sure they could fill the 375 person void in the building.
Sure, at the right price, but Modis is not gone yet. Eola will have to give them a rate they cannot get in the suburbs, and I am confident they will, if they want to keep their largest tenant.
interesting
Quote from: mtraininjax on January 26, 2010, 05:34:31 AM
QuoteI'm sure they could fill the 375 person void in the building.
Sure, at the right price, but Modis is not gone yet. Eola will have to give them a rate they cannot get in the suburbs, and I am confident they will, if they want to keep their largest tenant.
Mtrain, where are you these days?
Comcast tower! interesting.
Is that their new name?
It's their 'new' (and I use that really loosely) line of high speed services.
http://www.xfinity.com/customer/?xcr=1
The phrase that I've seen lately on this post, in reference to Comcast: polished turd.
Quote from: Non-RedNeck Westsider on October 22, 2010, 10:08:45 AM
It's their 'new' (and I use that really loosely) line of high speed services.
http://www.xfinity.com/customer/?xcr=1
The phrase that I've seen lately on this post, in reference to Comcast: polished turd.
Somebody finally got arount to polishing it? That's news to me!