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Triad Business Journal
Local CEO buys most expensive home in W-S in more than two years
A Winston-Salem based entrepreneur and CEO has recently closed on the highest-priced home sale in Winston-Salem in years.<\p> Daniel Calhoun, president and CEO of Winston-Salem-based Hispanic foods distributor Purple Crow, bought the house at 2832 Bartram Road for $2.35 million at the end of May. John-Mark Mitchell, CEO and owner of Winston-Salem real estate firm Mitchell Forbes Global Properties, said the transaction marks the highest-priced home closed in Winston-Salem on the Triad Multiple Listing Service in over two years. <\p>
Wake Forest rises to top for employee pay among NC universities
Wake Forest University leads the way for non-instructional staff pay among colleges and universities in North Carolina and also rises close to the top in both instructional staff and overall staff salaries, according to a Business Journals analysis of fiscal year 2023 data for public and private universities. <\p> Wake Forest comes in second behind Duke for total salaries, with its 2,406 employees earning an average salary of $89,550. The average salary for Duke employees is 92,783. UNC-Chapel ranks third in the state with an average salary of $81,703, followed by N.C. State University ($79,529) and Davidson University ($78,322).<\p>
Novant's $320 million deal back on, but still faces regulatory hurdles
A federal judge in Charlotte on Wednesday cleared the way for Novant Health's $320 million deal to acquire two North Carolina hospitals from subsidiaries of Community Health Systems, Inc. (NYSE: CYH).<\p> U.S. District Judge Kenneth Bell denied the Federal Trade Commission’s bid for an injunction blocking the Winston-Salem based health system from acquiring the 123-bed Lake Norman Regional Medical Center and the 146-bed Davis Regional Medical Center. <\p>
Why these Triad universities are betting big on esports
John Borchert is used to having to justify why gaming and esports are relevant both culturally and economically.<\p> But he’s found that the administration at UNC-Greensboro, where he teaches religious studies, has embraced esports as a new academic frontier.<\p>
Site of former Methodist Church receives office rezoning approval
The site of a former church soon could be gaining new life after the Greensboro Planning and Zoning Commission approved a re-zoning request by a major Triad developer.<\p> The commission approved a rezoning request from conditional district residential multi-family to conditional district office for the site of the former St. Timothy's Methodist Church, located at 5228 Hilltop Road, north of Hilltop Road and west of Bridford Parkway. St. Timothy's still owns the property, according to property information from the Guilford County Tax Department as of June 4.<\p>
Landlords’ financials draw increased scrutiny from tenants
As billions are set to mature within commercial real estate-backed loans, tenants are putting extra scrutiny on prospective landlords' financial wherewithal before signing leases.<\p> And while a preference for the newest or most-updated office towers that offer a bevy of amenities remains prevalent among tenants, so too is the appeal of leasing space from a landlord with limited or even no debt on the building.<\p>
Hanesbrands to sell Champion for $1.2 billion
Hanesbrands is selling its Champion line of activewear to brand management company Authentic Brands Group for $1.2 billion, the Winston-Salem company announced Wednesday morning.<\p> The transaction, unanimously approved by Hanesbrands’ board, could end up being valued at $1.5 billion depending on certain performance thresholds.<\p>
Hornets star buys Cam Newton's condo for $2.5 million (PHOTOS)
An uptown condo owned by one of the most recognizable names to ever play for a Charlotte team has sold to another star athlete here. <\p> Former Carolina Panthers quarterback Cam Newton sold his condo last month to Charlotte Hornets guard LaMelo Ball for $2.47 million, according to Mecklenburg County real estate records. The sale between Newton's Agape Property Management Group LLC and Ball's MB1 Enterprises LLC closed on May 14.<\p>
Charlotte-area investors buy Triad retail center for $6.15 million
A Greensboro shopping center on Market Street has recently sold for over $6 million.<\p> The Guilford Station Shoppes sold for $6.15 million, according to a Tuesday morning filling with the Guilford County Register of Deeds. The property, which is located at 5529-5559 W. Market St,, is 4.63 acres and contains 33,110 total square feet of retail space. <\p>
Tanger CEO talks growth strategy, new acquisitions
Tanger, the Greensboro-based owner and operator of open-air outlet centers, has opened three new shopping centers in the past year and is focusing its strategy on acquiring already existing centers first, with development of new centers coming secondary.<\p> On Tuesday morning, Tanger President and CEO Stephen Yalof spoke at a question & answer session as part of Nareit's REITWeek along with Michael Bilerman, Tanger's executive vice president, chief financial officer and chief investment officer. Yalof and Bilermn answered questions about a variety of topics including Tanger's growth strategy, leasing and the success of its most recent shopping centers.<\p>
Beloved W-S bakery to double square footage in West End expansion
Visitors at Louie and Honey’s Kitchen will soon have twice the space to enjoy the bakery’s famous Amish cinnamon rolls as the bakery and café prepares to expand over 3,000 square feet. <\p> Located in an approximately 2,000-square-foot space in Winston-Salem’s historic West End neighborhood, Louie and Honey will soon expand their kitchen approximately 1,000 to 1,500 square feet into the parking lot beside the bakery. Next year, the bakery will add a larger dining and market space in the 2,000 square-foot space directly under their current location, which houses bar and event space The Mulberry Table.<\p>
Where typical home values have pushed higher than $1M
Nestled amid the palm trees of Jupiter Island, Florida, is a three-bedroom, five-bathroom house with a pool on a half-acre lot.<\p> The 2,798-square-foot house, only steps to the beach and offering ocean views, is currently listed on the market for $5.1 million. As of the time of publication, it's the cheapest house for sale on Jupiter Island, which boasts the highest median home value in America, according to Zillow Group Inc. (Nasdaq: ZG).<\p>
New space in IQ brings medical device 3D printing close to clinicians
A new space in Winston-Salem’s Innovation Quarter is bringing 3D printing capabilities closer to clinicians and researchers.<\p> In partnership with electronics manufacturer Ricoh USA, Atrium Health Wake Forest Baptist has launched a first-of-its-kind 3D printing and medical device manufacturing facility in Innovation Quarter that will be used by clinicians and researchers at Wake Forest University School of Medicine.<\p>
Recyclable food-packaging company plans to hire 80 at new Triad plant
The Pennsylvania-based maker of recyclable-plastic food trays for the meat and produce industries known as Clearly Clean is coming to Greensboro with plans to hire about 80 people and invest nearly $25 million in a manufacturing facility, Gov. Roy Cooper announced Tuesday.<\p> The state was involved through a $200,000 grant from the One North Carolina Fund dependent on the company’s investing $24.9 million. The company, like others receiving grants from the fund, get no money up front and must meet targets regarding job creation and capital investment.<\p>
Glen Raven names new leader for its flagship unit
Venerable Alamance County specialty-textile company Glen Raven has named a new executive to lead its biggest division.<\p> Joseph Davis has been named president of Glen Raven Material Solutions Group, which includes Sunbrella, the company's flagship line of performance fabrics.<\p>
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