Columbus
Triangle Business Journal
Raleigh cleantech plans growth after $18.5M funder
For venture capitalist-turned-founder Jason Massey, Ndustrial’s recently announced $18.5 million funding success is a full circle moment.<\p> Massey, long before his investment career in Silicon Valley gave way to his dive into entrepreneurship in his home state of North Carolina, was quite familiar with one of the round’s lead investors, Swiss industrial giant ABB.<\p>
Investors pay $3 million for childcare facility in booming Clayton
As the childcare industry in North Carolina and nationwide faces major challenges, a group of investors have poured millions into buying a childcare facility in Johnston County.<\p> LLC School Road 100 of Raleigh recently purchased a Childcare Network school at 100 East School Road in Clayton for a little more than $3 million, according to Johnston County deed records. Childcare Network is a national company with more than 230 childcare facilities across 10 different states, according to its websites.<\p>
Raleigh rezones more properties as rapid bus lanes near
As the City of Raleigh gets closer to starting construction on the first Bus Rapid Transit corridor, more parcels are getting rezoned. <\p> During two different City Council meetings in April and May, several properties were rezoned to allow for more housing, affordability and employment opportunities along New Bern Avenue. Among the rezonings, more height, mixed-use and the transit overlay district were applied to various properties.<\p>
AI's latest casualty? Entry-level jobs
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at how artificial intelligence is taking roles that used to act as entry-level positions; Frontier Airline's strategy targeting business travelers; and how you can buy everything in a Red Lobster restaurant. But we'll start with what higher-for-longer rates mean for those in the real estate business.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Lindberg convicted a second time in bribery conspiracy scheme
For the second time, a federal jury in Charlotte has convicted the founder of a company that used to be called Eli Global.<\p> Greg Lindberg, who now lives in Florida, as well as his consultant John Gray of Chapel Hill, were convicted in charges elated to a bribery scheme, where political donations were leveraged for favors from the North Carolina Department of Insurance.<\p>
Raleigh's population surge ranked third among largest cities in U.S.
Raleigh's population percentage increase ranked third in the U.S. among cities with a population of 250,000 or more, according to the latest U.S. Census data.<\p> In its Vintage 2023 Population Estimate report, released on Thursday, Census data revealed Raleigh's population jumped 1.9 percent – more than 8,800 people – from July 1, 2022, to July 1, 2023. <\p>
16-story hotel proposed in Downtown Raleigh
Following a rezoning approval last August, the latest building at a site in Downtown Raleigh involves a new hotel that would be significantly shorter than the 40 stories that the city now allows there. <\p> Robert Ferris, president and CEO of SfL+A Architects and manager of development firm Firstfloor, submitted plans last week to the City of Raleigh for a new 16-story hotel and a parking facility at 130 Kindley St. <\p>
Companies pledging 9,200 jobs eye site opportunities in Wake County
The economic development wins are starting to stack up in Wake County, slowly but surely. And economic developers hope more projects – and Triangle-area jobs – are on the way. <\p> From big projects – including Fujifilm Diosynth Biotechnologies’ pledge to add more than 600 jobs in Holly Springs – to smaller site selection wins, including tobacco firm JTI’s U.S. headquarters move to Raleigh – Michael Haley, executive director for Wake County Economic Development, said the economic development pipeline “remains strong.”<\p>
Apex developer pays millions for Harnett County land zoned for housing
An Apex developer has purchased close to 100 acres in a Triangle-area county that has become a major attraction for residential real estate.<\p> Cambridge Reserve Developers, tied to Andrew Ross, has purchased roughly 95 acres off Oak Grove Church Road in Harnett County for around $2.75 million, according to Harnett County deed records. The land has an Angier address.<\p>
Duke spinout preparing for clinical trials following $2.8M raise
A Duke University spinout developing biomaterials to address challenges around reconstructive surgeries is preparing to test its technology in clinical trials.<\p> InSoma Bio recently wrapped up a nearly $3 million funding round to support the company's progress into its first clinical trial later this year. <\p>
Knightdale spot picked, but Yelp snubs Eastern NC in barbecue ranking
A barbecue restaurant in Knightdale made the list when Yelp released its list of the best barbecue restaurants in North Carolina — but the list had a significant slight.<\p> Other than Prime Barbecue in Knightdale, not a single barbecue restaurant east of Raleigh was named in the top 100. That means legendary places such as Wilber's Barbecue in Goldsboro and Parker's Barbecue and Chicken in Wilson didn't scratch.<\p>
After big win, Greenville might snag even more jobs
Last month, Greenville landed the largest jobs investment in North Carolina so far this year: A roughly $300 million plan by Vietnamese clean energy company Boviet Solar to bring 800 jobs to the city.<\p> Josh Lewis, president and CEO of the Greenville-Eastern North Carolina Alliance, said this could be just the beginning of large jobs announcements for Pitt County.<\p>
Charlotte developer targets Rolesville again for new homes
A Charlotte developer closed on 145 acres for its 400-home mixed-use project in northeast Wake County.<\p> Hopper Communities spent $5.1 million for land in Rolesville to build up to 395 residential units and commercial space, according to Wake County deed records. The community will be at the corner of Mitchell Mill and Jonesville Roads near Harris Creek. <\p>
Pitt County's first Black county attorney files discrimination lawsuit
Pitt County’s first African American county attorney has filed a federal lawsuit, alleging racial discrimination by multiple county officials.<\p> Bryan Wardell, who took office in August of 2023, served just 90 days before he was “abruptly fired,” his lawsuit states.<\p>
Merger of two Triangle churches now mired in bankruptcy, antagonism
A hometown church in Knightdale finds itself in the middle of a legal kerfuffle, with a handful of its own constituents having filed litigation over a surprise merger play. <\p> And its attempts to kill the lawsuit are — at least so far — unsuccessful.<\p>
Massive Chinese retailer to open first Raleigh store
Miniso (NYSE: MNSO), a publicly traded retailer that sells toys, electronics and other products, is expanding to Raleigh for the first time.<\p> The company currently has its logo and social media handles displayed in Crabtree Valley Mall, teasing its new space, and will open this July, according to the shopping center. The new store marks the first in the Triangle and the third in North Carolina, as Miniso already has locations near Charlotte and in Winston-Salem. <\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
Morrisville software company may be for sale
A Morrisville software firm may be for sale — though none of the parties are talking publicly.<\p> British private equity firm Cinven is exploring a sale of Jaggaer, one that could value the supply chain software company at about $3 billion, including debt, according to Reuters. <\p>
New tenant coming to former Omega Sports space in North Hills
A women’s fashion brand is opening its fourth location in the Triangle area. <\p> Altar’d State, which sells clothing, accessories and decor for women, is opening a new location in the North Hills Main District at 4120 Main at North Hills St. #145 in The Commons. The business is taking 9,000 square feet in the space previously occupied by Omega Sports, which closed all of its remaining stores in North Carolina last year. Its new next-door neighbors will be Which Wich Superior Sandwiches and SportsClips Haircuts. <\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.