Columbus
Triangle Business Journal
Chapel Hill Raising Cane’s hot start leads to expansion plans
Lines routinely wrapped around the entrance of Raising Cane’s on Franklin Street in Chapel Hill for weeks following its opening last November. Now, the Louisiana-based restaurant chain is preparing to build upon its success by expanding its storefront.<\p> Raising Cane’s, with a menu focused on chicken, will expand next door into the soon-to-be vacated Starbucks storefront at 103 E. Franklin St., according to plans shared with the Triangle Business Journal. Starbucks is moving across the street to the corner lot on 100 E. Franklin beneath Top of the Hill Restaurant & Brewery.<\p>
Sleepy Raleigh shopping center has new buzz
A once sleepy shopping center inside the Raleigh Beltline has a renewed sense of energy with a fresh look and popular new shops. <\p> York Properties, which manages the Lake Boone Shopping Center, announced the renovations back in 2019. The shopping center dates to the 1970s, developed by local investors Peter and Ruth Williams and Henry Haywood, and had received only modest updates through the years. <\p>
A popular job-posting strategy can backfire
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> The hiring process sparks plenty of questions for employers and candidates alike. <\p>
Pinehurst nets $6 million investment from Chicago group
A Chicago-based real estate investment group has poured millions of dollars into a Pinehurst shopping center.<\p> In late June, an LLC tied to Northpond Partners paid $6.3 million for the Fairway Village shopping center at 9735 U.S. Highway 15-501, according to Moore County deed records. The shopping center includes a Caribou Coffee location and a Hickory Tavern restaurant, among other businesses.<\p>
Figure Eight Island home sells for record $13.9 million (Photos)
The surging real estate market for luxury beach homes on the North Carolina coast just went to the next level.<\p> An investment banker has paid close to $14 million for a home on the coveted Figure Eight Island in the Wilmington area. It's being called one of the most-expensive home sales ever in the state. <\p>
New Cary apartments near Wegmans defy vacancy trend
A recently completed apartment community in Cary is leasing fast despite a multifamily market that's flooded with new supply.<\p> The Ashby at Twin Lakes is opening with a 76 percent lease rate. The Triangle’s multifamily vacancy rate is currently around 12 percent, much higher than its normal 4 percent. <\p>
Looking to buy a Triangle home? Here's what you're up against
Emily Torres and her fiancé, Nicholas Vitarella, have been looking for a home on and off since 2021. But the massively competitive home market in 2021 and 2022 wasn’t for them.<\p> “We would go to an open house first day and by the time we got there, there were already multiple offers on homes due to low interest rates,” Torres said.<\p>
Biz: RTP gets boost with $60M transit center
The ambitious push to remake Research Triangle Park into a hub for live, work, play has received a major boost.<\p> A federal grant of $25 million will go toward funding a new transit center in the heart of RTP. GoTriangle’s Triangle Mobility Hub will sit by the rail corridor off Highway 54 between Davis Drive and Miami Boulevard not far from the Hub RTP development, a mix of office and living space, restaurants and retail amenities aimed at attracting professionals to live in the park instead of commuting from around the region. <\p>
Raleigh firm tackles hypertension with new technology
Two-thirds of men over the age of 40 have high blood pressure, as do half of the women over 40; hit age 60, and three-quarters of the U.S. population are battling hypertension, according to the Centers for Disease Control.<\p> But despite the prevalence of hypertension, Harvard Health reports that one-third of those with high blood pressure don’t know they have the condition – and that’s especially concerning given that the “silent killer” is a leading risk factor for cardiovascular disease.<\p>
Viewpoint: In public policy, it's essential to follow the data
Having spent most of my career commissioning or writing about public policy research, I understand its inherent limitations. Still, I cling to the belief, however naive it may be, that careful study of complex problems can produce at least some clear answers most policymakers will accept.<\p> In education, for example, there is a wide range of views about how to improve teacher quality, student learning and school outcomes. On most issues, you can find plausible arguments, backed up with data, on all sides.<\p>
Raleigh school owes $10 million in unpaid taxes
Saint Augustine's University in Raleigh faces mounting pressure from the Internal Revenue Service.<\p> The federal agency on July 2 filed a tax lien with the North Carolina Secretary of State showing the university owes the IRS about $1 million in unpaid taxes. This is the latest of multiple tax liens the IRS has filed against Saint Augustine's this year, totaling nearly $10 million. <\p>
Column: The most affordable and effective medicine — food
At age 45, Dr. James Jacobs, a local internist, had a study done to see the health of his arteries that supply blood to the brain. He was shocked – the health of his arteries was 15 years more advanced for his age. The findings jolted this busy physician, but he decided to do something about it. Both he and his wife, Kimmie, started on a journey that, over time, would completely change their diet and lifestyle. It not only stopped the progression of his disease but stabilized it and may have even reversed some of the damage. <\p> Each individual may have different goals around their diet such as weight loss, diabetes management, gluten allergy, etc.<\p>
Former UNC ballplayer goes to bat for Eastern NC city
Benton Moss calls his hometown of Rocky Mount “the heaven of North Carolina” and is doing all he can to spread the word about the city. <\p> Moss owns four businesses in the area: a mechanical and plumbing company; a real estate company; a development company; and a media company. It’s plenty to juggle, but the young entrepreneur is used to such a balancing act: He received the prestigious Morehead-Cain scholarship at UNC-Chapel Hill and excelled in his school work while on the baseball team.<\p>
Fully-leased Durham buildings sell for below previous price
An investment company based in Florida has spent more than $20 million on two medical office buildings in Durham.<\p> AW Property Co. acquired The Duke Health Center at 3116 North Duke St. for $15.2 million, according to Durham County deed records. Healthcare Realty Trust was the previous owner, having acquired it in 2021 for $16 million. <\p>
Raleigh ice rink expansion fueled by explosive interest in hockey
Due to a growing interest in hockey and ice skating, demand for ice time has escalated, and one Triangle rink is looking to capitalize.<\p> Polar Ice Raleigh at 2601 N. Raleigh Blvd. is adding a second rink to its facility. <\p>
NC hotel tied to 'Dirty Dancing' sells
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.<\p>
RTP company to sell valuable antiviral drug
An Australian drug developer is considering acquiring a Research Triangle Park company's antiviral molecule that's been evaluated for treating Ebola virus and Covid-19.<\p> BioCryst Pharmaceuticals (Nasdaq: BCRX) has signed a non-binding term sheet to sell its antiviral drug galidesivir to the Australian company Island Pharmaceuticals, according to a statement from the latter on Wednesday. The drug's development has previously been supported by millions of dollars worth of government contracts focused on various diseases. <\p>
Moore County veterinary hospital bought for $1 million
As more people move to Moore County and property values rise, paying seven figures for commercial real estate is becoming more common.<\p> Per Moore County deed records from last month, North Carolina LLC Rebird Aegis spent just over $1 million to purchase the property housing the PineHills Veterinary Hospital at 125 W. Plaza Dr. in the community of West End. Laura Diem and Claire Lowery are tied to the LLC, according to business filings with North Carolina's Secretary of State.<\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>
TowneBank buys its Triad headquarters for $31.5 million
TowneBank has purchased a building in a prominent Greensboro office park from a local developer after leasing space in the building earlier this year.<\p> TowneBank (Nasdaq: TOWN) 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>
Triangle Business Journal
5K+
Posts
2M+
Views
The Raleigh region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.