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Triad Business Journal
Apartment market cools with record amount of new supply wrapping up
The national rental-housing market has continued to cool, with differing outcomes based on geography and unit type.<\p> Several markets in the South posted significant year-over-year declines in apartment rental rates as of April, according to a new Realtor.com analysis. Those declines were led by Nashville, Tennessee, and Austin, Texas, the latter of which has seen an 8.3% annual drop in asking rents and an 11.5% drop since peaking September 2022. <\p>
Former Triad trucking exec has ambitious goals for new coffee brand
Spencer Squier knows trucking and logistics. He wants the general public to know trucking and logistics, too, and he figured the best way to do it: coffee. <\p> In January, Squier launched Road Dog Coffee Company, in what he’s branding as the nation’s first coffee company dedicated to showcasing truckers. <\p>
Here's which 16 properties Novant sold across NC, with more to come
Novant Health has begun a multi-phased real estate transaction that will include 21 facilities across its three main markets in North Carolina. <\p> The Winston-Salem-based health system said Tuesday that it recently closed on the first set of property sales as part of a “larger, multi-phased sale/leaseback transaction with Remedy Medical Properties, Inc. and Kayne Anderson Real Estate that will include 21 facilities in the Winston-Salem, Charlotte and Wilmington areas.” <\p>
High Point begins Samet Dr. extension to make way for Palladium South
High Point recently broke ground on a major infrastructure construction project about two months after the plans for a related major mixed-use development were approved by the city.<\p> The city is clearing land for the Samet Drive extension project after hosting an official groundbreaking at the construction site earlier in May.<\p>
Cone, AHWFB near settlement in $246M Greensboro hospital dispute
It appears that the dispute between Cone Health and Atrium Health Wake Forest Baptist over a proposed $246 million Greensboro hospital is nearing its end.<\p> And it looks like the two health systems and N.C. Department of Health and Human Services will settle instead of taking the case to trial in the N.C. Office of Administrative Hearings.<\p>
Workers with learning disabilities face stigmas in the workplace
There remains a big stigma facing workers seeking workplace accommodations for certain disabilities — and those employees worry asking for help will hurt their careers. <\p> A new survey by The Harris Poll on behalf of nonprofit Understood.org, which works with people who have learning and thinking differences such as Attention Deficit Hyperactivity Disorder (ADHD) and dyslexia, found while 69% of workers know their employers must provide reasonable accommodations for disabilities, about 60% said there is still a stigma around asking their employer for support.<\p>
Thrive High Point executive director talks growth, Shop on Washington
As Thrive High Point transitions to its second phase this summer, seasoned local marketing and career professional Telisha Roberts was appointed as its executive director. The TBJ recently sat down with Roberts to discuss her goals for the upcoming move to “Thrive 2.0” and the new initiative Shop on Washington.<\p> This interview has been edited for clarity and brevity.<\p>
Upscale steakhouse concept to open first Triad restaurant tomorrow
A popular Charlotte-metro area steak and seafood concept will open its first Triad restaurant Wednesday in Greensboro.<\p> Epic Chophouse is opening its third restaurant at the busy The Village at North Elm at North Elm Street and Pisgah Church Road in Greensboro. The shopping center is anchored by Harris Teeter.<\p>
Triad city makes big jump in U.S. News' Best Places to Live rankings
Greensboro, uncoupled from its surrounding metro area, climbed almost 50 places and ranks in the top 25 places to live in the U.S., according to the 2024 Best Places rankings from the U.S. News and World Report.<\p> Greensboro jumped from No. 72 last year to No. 23 this year, with its overall score improving from 6.3 out of 10 to 6.6.<\p>
Rival parents of Triad big-vehicle makers team-up to develop software
While it doesn’t seem likely to have a great direct effect on operations in the Triad, the European parent companies of two of the region’s major international heavy-vehicle makers are teaming up on a new-product development initiative — and stressing they’ll remain fierce competitors.<\p> Volvo Group and Daimler Truck announced last week they’re forming a joint venture to be based in Volvo’s home base of Gothenburg, Sweden, to develop software and hardware platforms for the trucking industry. The goal is an industry-standard truck operating system and to offer products to other manufacturers in the industry, who can then build their own layers of software, the companies said in a joint announcement.<\p>
Harvard economist: Here's how region, businesses can boost talent pool
For someone who has spent much of his academic career exploring how seemingly intractable problems like the lack of access to literal and social capital, good schools, and at-hand economic opportunity has held back many people, Raj Chetty is surprisingly optimistic.<\p> The Harvard University economist is known for his research showing that the United States has less economic mobility than other wealthy countries, and that the odds of moving from a poor upbringing to high-income status varies widely place to place. He and his team have recently documented how a lack of social connections between income levels holds back economic mobility.<\p>
Summerfield staff resign in protest of poor treatment of town manager
All seven of the Town of Summerfield's staff members announced their resignations Sunday, in the latest controversy for the small Guilford County town. And now it looks as the mayor will step down, too.<\p> A statement released Sunday evening and signed "The Summerfield Town Staff" read: "It is with sad and heavy hearts that the staff of the Town of Summerfield announces their collective resignations. We are incredibly honored to have served the citizens of Summerfield for many years, and we had hoped to retire here."<\p>
Longtime Coca-Cola bottling facility south of Triad sold for millions
A real estate investor recently paid millions for a Coca-Cola bottling facility that's operated for 50 years in Lee County. <\p> An LLC tied to Florida-based New Market Strategies, a real estate investment firm that has been active in the Research Triangle area, purchased the property at 1605 and 1611 Hawkins Ave. last week for $3.85 million, according to Lee County deed records. The site includes two buildings, one more than 32,000 square feet and the other 8,600 square feet. <\p>
DOT, Carolina Core officials unveil Future I-685 sign
The southern Triad is one step closer to having a new interstate highway.<\p> Regional transportation, economic development and business leaders as well as elected officials gathered Monday morning for an event in honor of the designation of U.S. Highway 421 as Future Interstate 685 and to unveil the Future Interstate 685 sign. <\p>
Are investors re-entering the housing market after two-year retreat?
Investors could be launching a bit of a comeback in the U.S. housing market — although the reversal of fortunes comes amid a strategy shift for many investors in the face of low inventory. <\p> Purchases by investors grew 0.5% on a year-over-year basis in Q1, according to analysis by Redfin Corp. (Nasdaq: RDFN). Redfin defines an investor as any buyer whose name includes LLC, Inc., Trust, Corp. or Homes, or any buyer whose ownership code on a purchasing deed includes association, corporate trustee, company, joint venture or corporate trust.<\p>
5 houses in 5 days: Eight Triad builders lead Habitat Humanity 'Blitz'
While Brittany Grace has been a longtime resident of Winston-Salem, she has never owned her own home. <\p> But now, as her children are growing up and starting to go off to college, she has been wanting to have an asset to leave to them — which she has recently found in the form of a house built during the builders blitz. <\p>
Greensboro fuel-system maker launches soup-to-nuts EV-charging service
Greensboro’s Gilbarco Veeder-Root, a company built on equipment for selling gasoline and diesel fuel, is rolling out a soup-to-nuts turnkey solution for retailers and vehicle fleet owners who want to add EV charging.<\p> Called Konnect, it’s a suite of hardware and services intended to make it easy for gas stations, convenience stores and anyone else who already sells fossil fuels for vehicles to integrate charging stations into their property and business operations.<\p>
Here's how new East Coast Wings VP plans to add customers, locations
East Coast Wings + Grill is putting its five-year growth strategy – including signing for 10 more locations and opening four by the end of 2024 – into place with a key hire.<\p> The restaurant franchise has hired Ashley Mitchell as its vice president of marketing to help East Coast Wings + Grill elevate brand awareness and local store marketing. The chain, based in Winston-Salem, said it also hired a multi-unit manager for the brand’s corporate locations and a franchise business coach.<\p>
Some employers are weighing a six-day workweek
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> Given how some hiring managers view them and the unique pandemic-fueled hurdles they've faced, Generation Z's debut in the workplace has certainly come with some challenges. <\p>
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