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Triangle Business Journal
Construction firm charts affordable senior housing for NE Raleigh
A Raleigh construction company is targeting northeast Raleigh for affordable senior housing.<\p> Evergreen Construction Company submitted site plans to the city of Raleigh for Lake Haven, a 56-unit senior housing development. All of the apartments will rent for less than $1,050. Lake Haven will be just outside the Beltline and Highway 64, near several restaurants and shops. <\p>
Raleigh clinical research firm expands in four states with deal
A clinical research firm headquartered in Raleigh has expanded its site network with a recent acquisition.<\p> American Clinical Research Services (ACRS) has acquired Elixia, a clinical site organization with operations in multiple states. The deal, financial details of which were not disclosed, expands the ACRS clinical site network to 12 sites in six states.<\p>
Land primed for homes available at JoCo/Harnett line for $1.8 million
Land near the border of two of North Carolina's hottest counties is up for sale – and it could be prime land for a new residential subdivision.<\p> Real estate firm Cushman & Wakefield is looking to sell 44 acres of land at 1317 Ridge Road in the Johnston County side of the Town of Angier near the border with Harnett County. Pharmaceutical manufacturer Merial Select Inc. acquired the land in 2002, per Johnston County deed records, and is seeking $1.8 million for it, or roughly $40,000 per acre.<\p>
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
Durham transit tech firm scores new GM, eyes growth
A homegrown Triangle software company once under Ford Motor Co.’s umbrella has a new leader.<\p> Chip Schuneman is joining TransLoc of Durham as its new general manager, where he hopes to scale it to the next level. <\p>
After setback, massive Selma park still seeks industrial tenant
Roughly two years ago, Do Good Foods made an exciting announcement for Johnston County: It would be the first industrial tenant in Eastfield Crossing, a roughly 3 million square foot development in Selma spearheaded by Kevin Dougherty and his team at AdVenture Development. <\p> That came with a pledge to invest $100 million and to create 100 jobs while occupying a 135,000-square-foot building. <\p>
NY developer expands Triangle reach with Chapel Hill project
More apartments and townhomes are planned for a growing area between Durham and Chapel Hill as a New York development company expands its reach in the Triangle.<\p> Park Grove Realty of Rochester is planning to bring 107 multifamily units right near the interchange for Interstate 40 and Highway 54 between Durham and Chapel Hill. There will be 90 apartments and 17 townhomes, all of which will be for rent.<\p>
Canes' PA announcer has surprising background: software
By day, Wade Minter is a technologist, a product principal at Dualboot Partners and co-founding entrepreneur of Suggestion Ox, an anonymous feedback platform targeting human resource departments.<\p> But by night? He’s the voice of the Carolina Hurricanes, a guy with a “slightly scratchy" voice on Tuesday thanks to Monday night’s busy third period against the New York Rangers.<\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
CEO of nonprofit backed by $97M in state funding departs
A nonprofit backed by millions of dollars in state funding is looking for its next leader.<\p> Wil Zemp stepped down in April as CEO of Project Kitty Hawk, with Andrew Kelly, the University of North Carolina system's executive vice president, named interim CEO.<\p>
Walmart contract loss puts 100 North Carolina jobs in limbo
T-Roc Global, a Florida company that provides sales support to businesses, is laying off 100 people in North Carolina after losing a key contract to sell wireless services for Walmart (NYSE: WMT). <\p> The company notified the state this week that its operation in North Carolina is closing at the end of May due to the “unanticipated” contract loss. <\p>
How First Carolina expanded in Rocky Mount
A North Carolina bank has expanded its footprint to accommodate its growing market reach.<\p> First Carolina Bank CEO Ron Day said the bank’s expansion plan in Rocky Mount is years in the making, prompted by growth.<\p>
Fast-growing JoCo town establishes occupancy tax for tourism revenues
A red-hot town in one of North Carolina's fastest-growing counties is establishing a new tax on hotels to boost revenues for tourism and marketing. <\p> The legislative body for the Town of Clayton, located in the western part of Johnston County about 30 minutes from Raleigh, voted last week to establish a 2 percent occupancy tax for any business providing lodging and accommodations within the town's corporate limits. Impacted businesses include hotels, bed and breakfasts, Airbnbs and VRBOs, among others.<\p>
New Durham industrial building sells for more than $50 million
An industrial building that recently opened in southeast Durham has sold for more than $53 million.<\p> 147 Exchange, an industrial building near the interchange for Highway 147 and Interstate 885, sold to a Mississippi-based real estate investment trust for $53.2 million, according to Durham County deed records. East Group Properties (NYSE: EGP) acquired the industrial building, which has a major tenant in Fidelitone. <\p>
N.C. State startup sells to Oregon firm
A sustainable startup with Wolfpack roots has been acquired by an Oregon company.<\p> Beer to Bags, a Raleigh startup that uses breweries’ throw-away malt bags and turns them into customized beer tote bags, has been acquired by Oregon-based custom tap manufacturer Hoptown Handles.<\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
TBJ Publisher Christie leaving for new corporate role
Jason Christie, the market president and publisher of Triangle Business Journal, is leaving the publication for a new role with the parent company.<\p> Christie has been named senior director of enterprise membership sales, a new position that will work with outlets across American City Business Journals.<\p>
NC State finalizes $29M deal for University Towers
N.C. State University has finalized a transaction to boost its student housing capacity. <\p> The university earlier this month completed a deal to acquire University Towers, a residence hall on Friendly Drive near Hillsborough Street, for about $29.3 million, according to Wake County real estate records. The deal adds more than 900 beds to the university's student housing inventory. <\p>
New report details crash that closed RDU
A preliminary report out of the National Transportation Safety Board shows a plane crash that briefly stopped all traffic at Raleigh-Durham International Airport last month involved a rolling aircraft that touched down twice as it crashed near RDU’s secondary runway.<\p> According to the report, the pilot, Art Johnson, was unavailable to be interviewed by investigators “due to his injuries.”<\p>
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