Columbus
Triangle Business Journal
Once gritty North Carolina beach town sees investment surge
A North Carolina beach town that’s always been a grittier cousin of Wrightsville Beach has a new vibe.<\p> Carolina Beach, once a haven for skee-ball shops and cheap souvenirs, is riding a wave that includes a new rooftop bar, swank new homes and perhaps even an Embassy Suites before too long. <\p>
Many managers are posting fake jobs. One reason may surprise you.
Employers are turning to fake job listings as a means of boosting staff morale in the current unsettled hiring market, but those ghost postings could have consequences. <\p> That’s according to a recent Resume Builder survey, which found 40% of 649 hiring managers surveyed have posted a fake job listing in the past year. Three in 10 responded they have an active fake-job posting. <\p>
Canes, Pack fans — get ready for arena explosion
An ambitious plan to revamp the area around the PNC Arena hurtled toward reality Thursday 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, 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>
She sets the pace for Chapel Hill's resurgence
Chapel Hill took a hit in the pandemic, as stores closed and even the iconic intersection of Franklin and Columbia streets was marred by three closed stores. <\p> But the energy is returning to the heart of a town so connected to the University of North Carolina, and one of those leading the path forward is Jeri Lynn Schulke of the Chapel Hill Downtown Partnership. <\p>
VooDoo Wing Co. joins Franklin St. lineup in Chapel Hill
Downtown Chapel Hill is adding another food option as a new chicken wing shop plans to open on Franklin Street next month.<\p> Alabama-based Voodoo Wing Company is setting up at 147 E. Franklin St. — the former home of Dame’s Chicken and Waffles. Renovations are currently underway, with plans for a soft opening in late July, according to the Downtown Chapel Hill Partnership.<\p>
Cooking studio to open in Downtown Raleigh
After years of planning, Cherisse Byers is ready to share her life-long love of food with the residents of Raleigh and beyond. <\p> Byers has leased a 3,351-square-foot space at 516 N. West St. at Kane Realty’s Smoky Hollow development in Downtown Raleigh. The new venue will be home to Hone-Sharpen, where Byers will host cooking classes and events starting in early 2025. <\p>
UNC finds key ingredient in weight-loss drugs could have other uses
The active ingredient in popular diabetes and weigh-loss drugs could also potentially help people with alcohol use disorder, according to early clinical trial results out of UNC-Chapel Hill. <\p> Professor Christian Hendershot during a recent industry conference presented early findings from a clinical trial focused on the drug semaglutide in participants with alcohol use disorder. Semaglutide is the active ingredient in Novo Nordisk's weight loss and diabetes treatments, Wegovy and Ozempic.<\p>
Hooters closes three North Carolina restaurants
Hooters has closed three of its North Carolina restaurants and dozens more across the country. <\p> The Atlanta-based restaurant chain known for its wings and waitresses in low-cut tank tops has abruptly closed more than 40 poor-performing locations, according to reports. In North Carolina, it no longer lists its restaurants in Greenville, Jacksonville and uptown Charlotte on its website. <\p>
Apex investors target Eastern NC town with $1.6M buy
A retail building in eastern North Carolina has sold for seven figures as investments continue to pour into that part of the state.<\p> Apex-based LLC Saha Estates purchased a 6,300-square-foot building at 115 West Nashville Drive on 1.2 acres just west of downtown Nashville for more than $1.6 million last month, according to Nash County deed records. At least one of the tenants of the space is Cross River Therapy, which is an applied behavior analysis therapy group for children with autism.<\p>
Visa, Mastercard 'swipe' fee settlement dealt a big blow
A nearly $30 billion settlement involving U.S. retailers and credit card giants Visa Inc. and Mastercard Inc. has been dealt a blow after a judge said it was unlikely she would approve the deal.<\p> During a June 13 hearing on preliminary approval of the proposed settlement involving “swipe” fees, U.S. District Judge for the Eastern District of New York Margo Brodie said she was unlikely to sign off on the deal. Brodie issued a written order on the case on June 25, and while the order itself was sealed, the accompanying memorandum on the court docket stated that the "court finds that it is not likely to grant final approval to the Settlement and accordingly denies Plaintiffs' motion for preliminary settlement approval."<\p>
Pinehurst growth lures investment from LA real estate group
The "Home of American Golf" recently attracted a multimillion-dollar real estate deal from investors on the opposite side of the country.<\p> Pinehurst Property Partners LLC, which is tied to Los Angeles-based commercial real estate group A.J. Morgan & Company, and Los Angeles-based Kichaven Enterprises LLC paid close to $7.4 million for three commercial buildings in Pinehurst this month, according to Moore County deed records. <\p>
O'Reilly Auto Parts gears up for new Raleigh store
O’Reilly Auto Parts (Nasdaq: ORLY) is planning a new store in Raleigh, the home base for one of its biggest competitors. <\p> The Springfield, Missouri-based auto company is eyeing a vacant site at 811 S. New Hope Road, near Poole Road, to build a new 7,453-square-foot store. <\p>
Alarming stat for homebuyers
The housing market remains a challenging environment for many buyers trying to find something affordable.<\p> With 30-year mortgage rates above 7 percent and home prices at record levels across the country, many people are simply out of luck.<\p>
‘Lock-in effect’ restricts homeowners despite inventory improvements
A U.S. housing market that continues to see home-price appreciation, paired with higher-for-longer mortgage rates, may prolong the lock-in effect that's stymied inventory the past couple of years.<\p> Many housing economists predicted 2024 would see more relief for homebuyers by way of greater inventory and households more willing to sell their homes after being tethered to record-low mortgage rates obtained during the Covid-19 pandemic.<\p>
Developer eyes growing Raleigh corridor for huge apartment complex
A Maryland developer has targeted a Raleigh property for infill development across the road from another one of its projects.<\p> The Halle Companies is looking to rezone about 20 acres at 5009 Louisburg Road in Northeast Raleigh in order to develop a large apartment complex. The developer is proposing to rezone the land from residential 10 to residential mixed-use up to seven stories with conditions.<\p>
AskBio treatment targeting Parkinson's shows promise
In the span of a few months, one the of Triangle's most well-known gene therapy companies has advanced two programs further into clinical development. <\p> Asklepios BioPharmaceutical (AskBio) has begun recruiting patients for a phase 2 trial that will evaluate how well the Bayer subsidiary's gene therapy performs as a treatment for Parkinson's disease. This marks the second phase 2 trial the company has initiated this year. <\p>
Hobby Lobby to open new Raleigh store — here's where
Hobby Lobby is planning to open its second location in Raleigh. <\p> The craft giant has leased 55,688 square feet at a former Bed Bath & Beyond at 9521 Strickland Road in the Six Forks Station shopping center.<\p>
Youngsville land sells for millions to Georgia homebuilder
Land purchases are heating up in the Triangle area's fastest-growing county as a Georgia homebuilder just paid millions for property north of Raleigh. <\p> Atlanta-based Grand Oak Builders paid $2.74 million for 14.5 acres off Holden Road near downtown Youngsville, according to Franklin County deed records. The purchase is roughly $190,000 per acre.<\p>
Soaring demand fuels $4 billion JoCo factory
Novo Nordisk's latest expansion in North Carolina is years in the making, but the insatiable demand for its weight-loss and diabetes drugs is fueling the a much larger project than initially planned. <\p> The new expansion marks its largest ever investment in the state. Novo Nordisk (NYSE: NVO) announced Monday plans to invest $4.1 billion in a new facility that will bring 1.4 million square feet of production space online, doubling the combined square footage of the company's existing three facilities in Clayton and Durham. <\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.