Columbus
Triangle Business Journal
New NC A&T chancellor lays out goals for Greensboro university
North Carolina A&T’s new chancellor knows he has big shoes to fill. And it doesn’t seem to scare him.<\p> “It was very clear to me that expectations are high. Good. That’s what I like,” said James R. Martin II, who was appointed the new chancellor of N.C. A&T on Friday.<\p>
Zaxby's competitor picks Raleigh for first NC location
Guthrie’s is planning a new restaurant in midtown Raleigh in a busy retail corridor, potentially the first of many locations as the Alabama chain plans its expansion into North and South Carolina. <\p> The new restaurant will be at 2907 Wake Forest Road, the former home of Raleigh Auto Spa across from the Midtown East shopping center anchored by Wegmans. The restaurant is aiming for a winter opening, according to a Guthrie's spokesperson. <\p>
The Playbook: The disconnect on vacation is getting better
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> While many organizations have embraced hybrid work, there’s a chance it may not be the best option for certain groups of workers. <\p>
Gated community north of Raleigh pushes home prices above $3 million
Multimillion-dollar custom homes are under construction in Wake Forest.<\p> Homes ranging from $1.5 million to more than $3 million are being built on more than 100 acres in northwest Wake Forest. Grand Highland Estates will have 66 homes north of Highway 98 near Falls Lake.<\p>
Apex retailer lands deals with Target, Best Buy
A startup in Apex is reaching customers nationwide through a distribution deal with Best Buy (NYSE: BBY).<\p> The company, called ohsnap, has secured a distribution deal with Best Buy to launch its Snap 4 Luxe Grip nationwide. The company’s signature phone grip is now available at almost all of Best Buy’s 900 U.S. locations, according to ohsnap Co-founder and CEO Dale Backus.<\p>
Coffee shop eyes Raleigh, Durham for expansion
What started as a coffee trailer in 2019 has turned into a growing business with new locations in the works for Raleigh and Durham. <\p> Lindsey and Nick Gresock started The Brew Box five years ago, just before the pandemic. Now, the business is coming to Downtown Durham this fall and Raleigh Iron Works next year. <\p>
RDU adds to international reach
A new international flight that connects Raleigh-Durham International Airport with a market of 2 million people launched Friday.<\p> Copa Airlines' flight from Panama City, Panama, arrived at RDU around 2:15 p.m. The service will run four days a week and offer 160 seats, including 16 in business class.<\p>
Triangle poet earns six figures with a typewriter and a fox costume
Over a decade ago, Chris Vitiello received a prank gift from his ex-sister-in-law. It was a large fox costume, abandoned by some festival vendor in a parking lot.<\p> While initially amused, Vitiello had no use for the fox — except for occasionally wearing the suit to entertain his children.<\p>
IRS announces when payments on ERC claims will resume
The Internal Revenue Service plans to deny tens of thousands of improper Employee Retention Credit applications even as it promises to renew processing legitimate claims.<\p> The agency in an announcement this week said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023 — and found that between 60% and 70% showed an unacceptable level of risk.<\p>
UNC charts $90M expansion for Chapel Hill hospital
UNC Health is planning a major expansion for its medical center campus in Chapel Hill. <\p> The health system recently submitted an application to state regulators seeking to add 26 acute care beds at UNC Medical Center. The application was in response to the 2024 State Medical Facilities Plan, which identified a need for 26 new acute care beds in Orange County. UNC Health was the only organization to file an application to develop the beds. <\p>
Affordable apartments pitched in Raleigh after plans change
A property just outside the Beltline in southwest Raleigh could become affordable apartments.<\p> The site that was initially set for the new home for Logan’s Garden Shop is now mapped for a 220-unit apartment community. Elmington Development of Nashville, Tennessee, filed site plans for the project located at 4020 Tryon Road.<\p>
Public company pays $1.6M for dollar store in Eastern NC
A real estate investment trust based in Texas is going back to an Eastern North Carolina county to pay seven figures for a retail space.<\p> An LLC tied to Netstreit (NYSE: NTST) of Dallas purchased a roughly 2-acre parcel at 5472 U.S. Highway 301 South in the Town of Lucama in Wilson County for roughly $1.65 on June 10, according to county property records.<\p>
Nearly 100 acres north of Raleigh sells for millions
Roughly 100 acres in a rural county north of Raleigh and Durham has sold for double its assessed value as land outside the core of the Research Triangle is getting more expensive.<\p> 4L Real Estate Investments, an LLC with a Wake Forest address, purchased 96.6 acres in Granville for $2.55 million this month, according to county deed records. The land has a Wake Forest address and is located off Trappers Run Road in the southeastern part of the county. The land has a total appraised value of around $1.1 million, per Granville County tax records.<\p>
Longtime Raleigh engineering firm plans office refresh
After more than 50 years in Raleigh, an engineering firm is revamping its office space. <\p> S&ME, a firm that specializes in geotechnical, environmental, civil and construction engineering, has renewed its lease at 3201 Spring Forest Road near Capital Boulevard for 12 years and is planning a renovation of the 32,000-square-foot office space. <\p>
Startups from Triangle universities ignite entrepreneurial spirit
374Water started as a rudimentary pressure cooker, built into a 20-foot shipping container behind a building at Duke University.<\p> Today, it’s a public company, trading on the Nasdaq, its founders paying it forward and sharing their story with future innovators. They say their success wouldn’t be possible without the university whose laboratories incubated their ideas.<\p>
Concerns grow as doctors stay away from family medicine
The pipeline of primary care physicians is contracting on both ends, with fewer medical students choosing careers as family physicians and those in family practice opting for early retirement at younger ages. It’s a critical health care conundrum: Over the coming decade, the American Academy of Family Physicians (AAFP) forecasts an additional 48,000 primary care physicians will be needed in the U.S.<\p> North Carolina’s rural communities are already 400 doctors shy of the number of primary care physicians needed, and 70 of the state’s 100 counties are classified as a “medical desert,” meaning they lack at least one primary care specialty, according to the North Carolina Academy of Family Physicians (NCAFP).<\p>
Biz: Triangle targets fresh connections in France
Ryan Combs is used to pitching the Research Triangle Park in places such as Paris, but the reaction isn’t always overwhelming.<\p> “They are like, ‘Where are you from?’” said Combs, the executive director of the Research Triangle Regional Partnership.<\p>
Viewpoint: North Carolina economy is always churning
North Carolina’s private sector lost an eye-popping 414,000 jobs in the most-recent quarter tracked by the U.S. Bureau of Labor Statistics. Are we on the brink of economic cataclysm? Should you buy gold and head for the hills?<\p> Nah. There’s no reason to panic. While a modest uptick from the previous quarter, those lost 414,000 jobs don’t represent 414,000 people suddenly out of work. You see, during the same quarter, North Carolina businesses added 496,000 positions — representing a net increase of about 82,000 jobs.<\p>
What's next in the NAR commission lawsuit settlement?
Some big deadlines are on the horizon for the class-action lawsuits that swept the residential real estate industry over the past year. <\p> The conclusion of these lawsuits could bring about significant changes to how homes are bought and sold beginning in the later part of 2024.<\p>
RDU smashes another record for traffic
Traffic numbers at Raleigh-Durham International Airport continue to soar to new heights.<\p> Boosted by holidays, graduations and new flights, the airport in May saw more than 1.4 million travelers pass through its terminals — a new monthly record. The number surpassed April’s passenger traffic by 10.5 percent and exceeded last year’s May number by 9.7 percent. <\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.