Thanks for all suggestions.
After running some tests with various alignments and expansion nicknames, just to get the feel of them and to see what logos/colors, etc. appealed to me most, I actually went with the Carolina Cougars, located in Charlotte. Reviving the old ABA!
I stayed with the alignment I had originally because I liked the divisional rivalries without upsetting too many old traditional locations (although I could see the point of the arguments for some other formats).
For now, anyway, the Carolina Cougars are off and running, with a pretty slick forest green and gold scheme, playing in Wells Fargo Stadium. It's also nice to see the Expos back in MLB!
Thanks again everyone!