Business

Cree announces Wolfspeed semiconductor division

September 2, 2015

(WRAL TechWire)

With a nod to N.C. State, where a group of students started Cree in 1987, the company has named its new power and radio frequency division Wolfspeed. The Durham-based LED manufacturer plans to spin off Wolfspeed in a public offering sometime before June 2016.

Tar Heels, Gamecocks each get $3M appearance fee for Charlotte game

September 2, 2015

(The Charlotte Observer)

UNC Chapel Hill and University of South Carolina will each receive more than $3 million for playing their season opener in Charlotte on Thursday. ESPN requested the game be moved from Saturday, which could be having an impact on ticket sales. About 50,000 tickets have been sold in the 73,238-seat Bank of America Stadium. At least two more Charlotte match-ups between the two teams are being scheduled.

Big pension funds plan to vote against BofA bylaw change

September 2, 2015

(The Charlotte Observer)

Two California pension funds say they will vote against Bank of America's bylaw change that allowed CEO Brian Moynihan to become chairman. The two funds own a combined 63.6 million BofA shares worth about $1 billion. Analysts said Tuesday the funds could have a limited influence over other shareholders. A vote is scheduled for Sept. 22.

Winston-Salem home prices gain 3.6% over last year

September 2, 2015

 (The Winston-Salem Journal)

Home sale prices in the Winston-Salem metropolitan statistical area increased 3.6% in July compared with a year ago, CoreLogic reported. It was the fourth highest increase among the state's five largest metropolitan areas. Charlotte ranked first with a 5.3% gain, while Greensboro was last at 3.4%. Previously the Winston-Salem Regional Association of Realtors said that the average sales price in July rose 4.8% to $184,299. The Winston-Salem MSA is composed of Davidson, Davie, Forsyth, Stokes and Yadkin counties.

Raleigh OKs office tower in warehouse district

September 2, 2015

(WRAL.com)

Raleigh City Council approved a rezoning that will allow Kane Realty to build an office tower of up to 20 stories in the city's warehouse district. The structure will incorporate an existing Dillon Supply warehouse and include 210,000 square feet of office space and 260 apartments.The 2.5-acre site is adjacent to the Union Station transit hub, currently under construction.

Pest control pay day: $425 million for Charlotte company

September 2, 2015

Rentokil Initial, a British business-services company, agreed to by the Steritech Group, based in Charlotte, for $425 million.

Cabarrus economic developers court varied projects

September 2, 2015

(The Independent Tribune, Concord)

Economic developers in Cabarrus County have fielded inquiries from numerous companies that are considering locating in the region. An unnamed manufacturer could add 120 jobs, while a printing company is looking at creating 200 jobs. Energy and construction-materials companies are also looking at Cabarrus.

Durham's Scioderm acquired for $229M

September 1, 2015

(The News & Observer, Raleigh)

New Jersey-based Amicus Therapeutics could pay up to $947 million for the Durham startup if Scioderm's experimental treatment for a rare skin disorder is approved by the FDA. Zorblisa is a skin cream used to treat Epidermolysis bullosa, which causes blistering rashes and affects 30,000 to 40,000 people.

Charlotte's AT&T Plaza sells for $45.5M

September 1, 2015

(The Charlotte Observer)

Stream Realty Partners paid $45.5 million for the 360,000-square-foot AT&T building in downtown Charlotte and is planning extensive renovations, including a new facade, new lobbies and new retail space. AT&T is relocating employees to offices off West Tyvola Road.
Related: Charlotte's office vacancy rate down to 13.5%

Dispute over Yadkinville hospital closure could head to trial

September 1, 2015

(Winston-Salem Journal)

A lawsuit over the closing of Yadkin Valley Community Hospital could go to trial next June. The county claims the hospital's operator, HMC/CAH Consolidated, and its parent company breached their contract by abruptly closing the 20-bed hospital on May 22 (Statewide, July).