NYC Trip Recap: “Flight to Experience”

RED’s annual trip to NYC included meetings and networking for executive director Kyle Touchstone and assistant executive director for Wake County Economic Development Ashley Cagle.

The team shared updates on office space developments, emphasizing new Class A office spaces like 400H, GlenLake 3, Tower 5 at the North Hills Innovation District, and 1000 Social, as well as updates about significant life science successes in Holly Springs. And recent office wins from Audemars Piguet and Jewelers Mutual.

Kyle and Ashley also covered significant investments, including the recently announced Omni Hotel and Resorts Convention Center Hotel, the Raleigh Convention Center and Red Hat Amphitheater expansion, arena upgrades (formerly PNC Arena), and developments at Dorothea Dix Park.

Additionally, the team met with key development partners and site selectors, all with interest in Raleigh and Wake County:

• Ari Shalam, RWN Real Estate

• Dave Fleisher, Cushman Wakefield

• George Tobjy, Maxis Advisors

• Jeannie Ma, GeneSuites

• Mack Real Estate

• Norbert Vnek, Savills

Kyle and Ashley spoke at length about the ecosystem in Raleigh and Wake County, sharing updates, discussing trends, and revisiting critical criteria for location decisions. Ari Shalam with RWN Real Estate shared the following six filters his firm uses for location evaluations.

1. Strong anchor universities that can feed employment.

2. Generally comfortable year-round weather year.  

3. Low relative tax and regulatory environment.

4. Ongoing investment in local infrastructure (widening highways, improving the airport, power grid, etc.)

5. Location is a fun place, especially for the 21-35 demographic (bars, clubs, restaurants, sports, etc.).

6. Low climate risk and vulnerability (hurricanes, wildfires, floods, mudslides, extreme heat, etc.).

In summary, the team received much positive feedback about the pace of development and growth in Raleigh and Wake County.

We expect to continue welcoming new businesses and assisting local companies with expansion opportunities.