BizFeed: Third Comcast Tower Looking More Likely
1. A Third Comcast Tower in the Works?
The News: Liberty Property Trust purchased a 10,000 square foot surface parking lot at 19th and Arch Streets for $2.45 million, according to the Philadelphia Business Journal. It’s been gradually gobbling up properties in the area for what could be a third Comcast skyscraper in Center City located on the block between 19th and 20th Streets and between Arch and Cherry Streets.
Why it Matters: Is a third Comcast tower good for the city? Is Philadelphia putting too much of its eggs in Comcast’s basket? If it’s cable and Internet business falters in the next 10 years or so, would that mean the buildings would turn into unused “white elephants?”
I doubt it. Comcast is bursting at the seams at the moment. It’s current tower is filled to capacity and the company announced in January that it plans to utilize all the office space at its Comcast Innovation and Technology Center (which is currently under construction). Originally, the plan was to rent out a portion of the space. Even if some unforeseen technology emerged that destroyed Comcast’s core businesses, trophy space in Center City is at a premium, making all three towers attractive to renters.
2. Five Below Opens Massive South Jersey Distribution Facility
The News: Fast-growing retailer Five Below has opened a 1.05 million square-foot distribution center in South Jersey. It will start with 700,000 square feet and build out from there. It’s hiring an addition 100 people to go along with the 175 being transferred from its New Castle, Del. location 12 miles away.
Why it Matters: Five Below is on a serious roll these days. It’s fourth-quarter profits rose 34 percent, and it expects to add 70 stores this year for a total of 436 nationwide. Teens are increasingly seeing it as the go-to place for cell phone cases, gift wrapping, decorations and even candy. It has a certain cool factor that dollar stores just can’t seem to grasp.
The company announces first-quarter earnings on Wednesday afternoon, so we’ll see if the good times will continue.
3. Networking Mistakes You’re Probably Making
The News: Forbes highlights some serious mistakes that we all unwittingly make. Here are two of my favorites:
Any canned communication, like the formulaic thank you note, is a networking mistake. It’s fine to use templates to structure thank you notes, cover letters and day-to-day responses to emails you frequently get. If you don’t have templates, then you’ll spend an inordinate amount of time keeping up with your correspondence. However, don’t rely so much on the template that the response loses its genuine, targeted feel. You have to personalize enough so that your communication feels aimed at the individual and not for general broadcast.
Let’s Get Together…No, Not Really (The Unfulfilled Appointment)
When you do communicate, don’t assume it has to be live, especially if scheduling is problematic. I once reached out to a professional colleague to discuss an industry issue and suggested we catch up over coffee to discuss. He agreed to get together, so I proposed a date, he counteroffered, we agreed, he rescheduled last minute and then we ultimately never met.
Why it Matters: Networking is always tricky. You have to remember that you’re not making a new friend, but a new contact. Although you may think you’re a smooth talker or clever emailer, you’re likely making some mistakes without even knowing it.