Deutsche Bank considers Southbank in site search

[tufsu1]

^ there were actually a few Oktoberfest celebrations here last year...one in Riverside and one at the Shipyards

[Stephen]

We are still deciding on a date..Hopefully in October in Metropolitan Park..

[Wacca Pilatka]

Here in Newport News, the Orthodox Church throws a terrific Greek festival that attracts huge crowds from around the area every year.  Hope the Jacksonville one is as big of a hit.

[ProjectMaximus]

While we're on the speculation train, Adecco announced it is moving its N.A. HQ to Jax.

http://www.jaxdailyrecord.com/showstory.php?Story_id=542522

Any chance they can convince them to head back downtown? Ignite, Adecco's "innovation lab" (tech incubator) is located in the heart of downtown.

[JayBird]

^ Not a chance at all. They'll be filling in their Southside offices.

[ProjectMaximus]

Asked a second time about the site decision in Jacksonville, Fleming repeated: "It'll be good for Jacksonville."

http://www.jaxdailyrecord.com/showstory.php?Story_id=542594

[ProjectMaximus]

^ Not a chance at all. They'll be filling in their Southside offices.

yea, that would make sense.

[spuwho]

Cut Deutsche some slack. Every job they move from NY to JAX is a huge win regardless.

I would love to see a nice futuristic tower with their name glistening in the twilight as seen from a blimp during Jags Monday Night Football. But that may not be their style in this case.

Give them some room to size organically. They may still want to move to the core 5 years after the bump.

[thelakelander]

For those thinking Deutsche wants to build a tower, you can put that out of your minds before you get your hopes up too high.

[Rynjny]

For those thinking Deutsche wants to build a tower, you can put that out of your minds before you get your hopes up too high.

So no chance it will happen right?

[simms3]

I would be happy if DB went with a campus such as:


http://www.sfgate.com/business/article/Salesforce-s-Mission-Bay-deferral-raises-questions-3368430.php#photo-2057710


http://www.sfgate.com/bayarea/place/article/Salesforce-plans-a-colorful-jolt-for-Mission-Bay-2369689.php


http://forum.skyscraperpage.com/showthread.php?t=128118&page=53


http://www.socketsite.com/archives/2011/06/a_bit_of_color_on_salesforcecoms_open_campus_in_mission.html

Awesome renderings here:
http://acochran.com/ross-residence-1/

This was a campus for Salesforce.com, and was meant to serve as its global HQ.  Ultimately they decided to locate in several towers downtown (one UC 100% leased to them, across the street on either side mostly occupied by them, and the rumor is they'll at minimum anchor the Transbay Tower UC now, if not take the whole thing as part of their plan to occupy something like 3.6 million SF by 2016).  Salesforce is selling off this land to other users creating campus settings in the area (UCSF is anchoring a west coast version of Cambridge around there).

Long story short, DB may not want a tower tower, but I bet they want their own space, and a lot of it.  While they may keep different corporate divisions separate (asset management separate from corporate clients/Investment Banking, for instance), it's not totally uncommon for them to have several groups on different floors in one building.  They also don't seem to like shitty office space (such as that they have in Jax now).  Office space and location are proven to matter to the under 40 set.  I don't see suburban Jax space cutting it in the long run if they want to actually steal away parts of their NYC office to a 3rd tier "backwater" market.  They'll have to invest a little

[ProjectMaximus]

Cut Deutsche some slack. Every job they move from NY to JAX is a huge win regardless.

I would love to see a nice futuristic tower with their name glistening in the twilight as seen from a blimp during Jags Monday Night Football. But that may not be their style in this case.

Give them some room to size organically. They may still want to move to the core 5 years after the bump.

To clarify, Jaybird and I were referring to Adecco's new NA HQ, not DB.

For those thinking Deutsche wants to build a tower, you can put that out of your minds before you get your hopes up too high.

So no chance it will happen right?

The thinking, I suppose, is that if for some reason they wanted an office tower, there is already space in existing office towers for them. JEA site might be a good compromise...connected to the core while allowing DB to get "all that parking" that they love about Jax.

[simms3]

^^^If they want to be in a "tower" downtown, I highly doubt they'll randomly lease space in a bunch of separate towers (say to separate asset management private clients and corporate clients), and I highly doubt they zoom to the big space at the Everbank Tower.

I would actually be optimistic that DB would have something built for them.  Also, are we talking about 500 employees or 2-3,000 employees?  500 employees in different divisions could be in leasable space between BofA, 225 Water, and Wells Fargo building, each of which has significant vacancy and each of which is premier enough within the market.  2-3,000 employees will need its own building or campus.  But I'd be shocked if DB decides to put anything but basic services in the Everbank building.  In every real estate market I've had any knowledge of whatsoever (granted Jax isn't one), blue chip banks who have a major presence never put employees in buildings like that.  Ever.  Secondary offices, maybe, but isn't DB trying to establish Jax as their #2 in NA?


I have to say this having experience doing exactly this, but for recruitment purposes, the office can make a huge difference.  Finding the talent pool for some of their job descriptions within Jax/FL, even the South in general, is difficult enough.  So they are recruiting from lots of college campuses, including college campuses that are getting picked off by banks in NYC, Boston, Houston, SF, Chicago, etc etc.  MBAs tend to stick around where they went (i.e. I live in SF, so if I want a career here, then going to Stanford or Berkeley is a good idea...or it will have to be a top program so I can find an alumni network here if I want to head back east for MBA and return...a Jax won't really have a "large" Chicago, Penn, Columbia, etc alumni network because they don't matriculate there, though you'll meet lots of Gators and Noles).

College grads same to a degree, but they are still influenced by where their friends are all going, and they are looking around and seeing what's available.  DB in class A suburban office park in Jacksonville, FL (or older class B tower) with lower pay on paper (though lower COL) when their friends are getting jobs with peer banks in bigger cities with bigger salaries (though higher COL)...maybe they interviewed with Bank of America in NYC and saw that spectacular office (it really is), and next up was DB for a position in Jax.  It's not a really tough decision, honestly.  DB knows it needs to step up its game if it wants to compete for talent.  That includes the office.

It's no different in other cities, either.  The blue chip tech firms are all either building humongous new state of the art facilities in Silicon Valley or making their moves into prime office in the city, but location AND the office are part of the equation for their recruitment capabilities.  They can no longer have basic class A suburban space and still remain competitive for talent.  The Google name is diluted now on paper when there are so many fantastic options for engineers fresh out of college, right in the city (hence why Google actually doubled down on its SF footprint last year by renewing/expanding).

[edjax]

While we're on the speculation train, Adecco announced it is moving its N.A. HQ to Jax.

http://www.jaxdailyrecord.com/showstory.php?Story_id=542522

Any chance they can convince them to head back downtown? Ignite, Adecco's "innovation lab" (tech incubator) is located in the heart of downtown.

Per article on JBJ they are looking at moving the HQ to the Riverplace Tower.

Oops. Story on Daily Record, not JBJ.

[thelakelander]

Who? I thought Adecco was going to its Deerwood Park operation?