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Triad Business Journal
Greensboro home care firm finds success in using AI-powered technology
Adults overwhelmingly want to remain in their homes as they age, and one Greensboro company has found a novel way to improve care for older adults living at home: artificial intelligence. <\p> Griswold Home Care for Greensboro has helped clients receive necessary care using Sensi, a 24/7 virtual care agent that uses AI technology from software development company Sensi.AI, which recently raised more than $31 million. <\p>
Richmond group buys lowly-rated Triad nursing home for almost $14M
A nursing home in Randolph county recently sold for almost $14 million.<\p> Universal Health Care Ramseur, located at 7166 Jordan Road, was recently sold to 7166 Jordan Road LLC, which is associated with Medical Facilities of America, for $13.85 million, according to Randolph County Register of Deeds fillings. Ramseur is located in East Randolph County, about 10 miles east of Asheboro on U.S. Highway 64.<\p>
Inno Fire: Meet five Triad startups poised for growth
TBJ annual recognition of the startups sparking innovation and fueling growth are blazing wildly different paths to the same destination — the next big thing<\p> While Rarebird Inc. of Winston-Salem is developing coffee with a different kick, Poulterra of High Point seeks to upcycle chicken litter — meaning waste, bedding and feathers. Boss Cybernetics of Greensboro has found success in finding a better was to coordinate wedding venues, and Molten Makerspace is helping cultivate artists into entrepreneurs. And Care Directions of Winston-Salem provides transitional care management for stroke patients with an emphasis on the patient’s social and functional determinants.<\p>
The Triad's most expensive private schools
This week, Triad Business Journal looks at the largest private schools in the Triad ranked by 2023-2024 enrollment.<\p> Like everything else, the cost to attend a private school has increased, but not by much. The increase of the average tuition for the upcoming 2024-2025 school year for the schools on this list rose by only 1% over last year.<\p>
Meet the Triad tech startup making weddings less stressful
In 2017, Joe Destafino accidentally double-booked a wedding at the Bella Collina Mansion, a Stokesdale venue he owns and operates.<\p> The reason? There was no all-in-one management system for wedding venues, he said.<\p>
W-S startup eyes expanding jitterless coffee through cans, pods
Move over, decaf. There’s a new way to enjoy coffee — and an energy boost — without the negative side effects of caffeine.<\p> Rarebird is the first patented jitterless coffee. It replaces caffeine with paraxanthine (Px), the substance that’s created when the human body breaks down caffeine.<\p>
Meet the WFU med school spinoff that's thinking bigger on stroke care
Even though the mortality rate for it is decreasing, strokes are still a leading cause of serious, long-term disabilities. So what happens when a stroke patient is discharged after a hospital stay?<\p> “Patients and their families are left to navigate this journey of recovery without a lot of direction,” said Pamela Duncan, CEO and founder of CareDirections. <\p>
Meet the startup turning poultry poop into sustainable fertilizer
A Triad startup has a deal for poultry farmers: We’ll give you a better bedding solution and in return, we’ll take your manure and process it into something else.<\p> Founded in 2022, High Point’s Poulterra launched its "Manure-as-a-Service" model in May. In conjunction, it's now expecting to launch two litter processing facilities, one in the state and other in Maryland, that could together employ up to 100 people full time. <\p>
New makerspace in High Point aims to help artists build businesses
Morgan Mattern wants to help local artists turn their side hustles into main businesses.<\p> But as his wife and business partner, Dara Alper, began hosting pop-ups for glassblowing classes last year, he discovered there are many barriers to entries for artists. Mattern, who recently turned 30, and Alper, in her late 20s, aim to lower those barriers with their new studio space in High Point, the Molten Makerspace.<\p>
Canes, Pack fans — get ready for arena explosion
An ambitious plan to revamp the area around the PNC Arena hurtled toward reality last week as the Centennial Authority and Carolina Hurricanes owner Tom Dundon agreed to a development deal and an extension for the team.<\p> While terms of the deal had already been negotiated, last Thursday’s signing finalized those agreements. The deal binds the team to the arena through 2044 and allows the team to develop the prime real estate around it.<\p>
Fast-growing Charlotte car wash company acquires three Triad locations
Charlotte-based Whistle Express Car Wash continues to expand its footprint in the Carolinas, including the Triad.<\p> The express car wash owner and operator has acquired 15 locations of Charlotte-based Fins Car Wash. Terms of the deal were not disclosed.<\p>
Historic North Carolina hotel that hosted 'Dirty Dancing' sold
A historic hotel in Western North Carolina has been sold for a hefty price. <\p> The Lake Lure Inn was recently sold for $11 million in a deal that included other nearby properties. The 72-room hotel built in 1927 has hosted the likes of President Franklin D. Roosevelt and cast members of the iconic 1987 film "Dirty Dancing" starring Patrick Swayze and Jennifer Grey. The movie was filmed at Lake Lure and at Mountain Lake in Pembroke, Virginia.<\p>
Boom Supersonic marks key milestone in engine-development plan
Just a few weeks after showing off its newly completed factory in Greensboro, Boom Supersonic has passed another milestone: scale-model mock-up testing of a key component of its self-developed engine.<\p> Boom has begun analyzing the pressure drop through the combustor section of its engine, named Symphony, using a test rig, or mockup, built at the design and test facility of engine-development partner Florida Turbine Technology. The company announced the step in an update on its website written by Scott Powell, senior vice president of the engine project.<\p>
Crowne Partners make Forsyth's largest multifamily sale of 2024
A Winston-Salem apartment complex was recently sold for almost $32 million in Forsyth County's most expensive multifamily sale of 2024.<\p> Crowne Partners, based in Birmingham, Alabama, sold the Crowne Club apartment community in the South Fork neighborhood of Winston-Salem for $31.7 million, according to filings from the Forsyth County Register of Deeds.<\p>
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
W-S coffee shop that employs workers with disabilities to close
Facing financial uncertainty as a nonprofit, Moji Coffee + More will close in Winston-Salem at the end of August.<\p> The board of directors at Moji Coffee + More voted to close the shop, Moji announced Monday on its website. An advocate for the employment of differently abled individuals, Moji employs individuals with intellectual and developmental disabilities and provides one-on-one training and coaching for both professional and personal skills.<\p>
Atlanta industrial real estate firm enters market with buy near PTI
A privately held Atlanta-based industrial and logistical real estate firm has entered the Triad market with the purchase of a vacant site of about 137 acres near Piedmont Triad International Airport.<\p> Pattillo Industrial Real Estate paid about $14 million for the site addressed as 8309 West Market Street, according to Guilford County property records. The deed was recorded Monday.<\p>
TowneBank purchases its Triad headquarters building for $32 million
TowneBank has purchased a building in a prominent Greensboro office park from a local developer after leasing space in the building earlier in 2024.<\p> TowneBank purchased the 107,000-square-foot office building at 628 Green Valley Road for approximately $31.5 million Monday, according to Steve Shavitz, a partner with Deep River Partners, and filings with the Guilford County Register of Deeds. <\p>
Florida firm buys $73M worth of medical offices mostly leased to Cone
A Florida real estate investment firm has entered the Triad market by purchasing nearly $73 million worth of medical offices in Greensboro.<\p> Last week, affiliates of AW Property Co. paid $72.7 million for six buildings that are either fully or partially leased by Cone Health, including a popular three-building complex. The seller of the properties was Healthcare Realty Trust (NYSE: HR), a Tennessee real estate investment firm for medical facilities.<\p>
New owner to add retail space at Food Lion-anchored Clemmons center
A Food-Lion anchored shopping center in Clemmons may soon see new available retail space as ownership changes hands.<\p> Last week, the 8.44-acre tract at 1410-1456 River Ridge Road was bought by NSPDE Clemmons River Ridge LLC, a subsidiary of real estate management leasing company New South Properties, for $7.3 million, according to a Forsyth County Register of Deeds filing. The River Ridge site is the 12th Food Lion that New South Properties has acquired and its first in the Triad.<\p>
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