Business

Charlotte office park sells for $114M

December 7, 2015

(The Charlotte Observer)

Toringdon Office Park near Ballantyne in south Charlotte was sold to an undisclosed buyer for $114 million. The park is 87% leased and consists of six buildings totaling 520,000 square feet. The seller was a joint venture of Stockbridge Capital Group and Trinity Capital Advisors.

Randolph County seeks to rezone megasite land for industrial use

December 7, 2015

(News & Record, Greensboro)

Randolph County and the Greensboro-Randolph Megasite Foundation this week will apply to rezone 1,400 acres for heavy industrial use. The county owns 425 acres of the land, located in northeastern Randolph County, while the foundation owns or controls the right to buy the remainder of it. Local economic developers hope the megasite will attract an automaker.

Novo Nordisk incentives could exceed $130 million

December 4, 2015

(The News & Observer, Raleigh)

Danish drugmaker Novo Nordisk could stand to receive more than $130 million in incentives in exchange for adding about 700 jobs in Johnston County. The deal, announced in August, includes $110 million in tax rebates and infrastructure spending not previously disclosed. The company plans to invest $1.8 billion in a plant near Clayton.

Amid branch cuts, BofA investing more in mobile technology, cybersecurity

December 4, 2015

(The Charlotte Observer)

The volume of customer deposits being made on mobile phones is equivalent to what would be handled by about 700 branches, Bank of America CEO Brian Moynihan told Charlie Rose in an interview that aired Wednesday on Bloomberg TV. The nation's second largest bank has trimmed about 1,200 branches since Moynihan became CEO in 2010.

Whitewater Center adds to Charlotte holdings

December 4, 2015

(The Charlotte Observer)

The U.S. National Whitewater Center paid $5.3 million for 488 acres near its 700-acre campus in Charlotte, real estate records show. The center plans to preserve the mostly vacant land, acquired from chemical company Clariant. Opened in 2006, the center's amenities include an artificial river, zip lines and mountain-biking trails.

Wilmington's LIve Oak Bank exits SBLF program

December 4, 2015

(Greater Wilmington Business Journal)

Live Oak Bank has paid the U.S. Treasury $6.8 million to exit the Small Business Lending Fund program, which was established in 2010 to provide capital to community banks to encourage small business lending. Eight North Carolina-based banks have been a part of the program.

Clemson fans will outnumber Tar Heels at Saturday's ACC title game

December 4, 2015

(The Charlotte Observer)

Fans attending Saturday's sold-out ACC Championship game at Charlotte's Bank of America stadium can expect about two-thirds of attendees to be cheering for the Clemson Tigers. Clemson clinched the Atlantic Division title two weeks before the UNC Tar Heels clinched the Coastal Division, giving Clemson fans more time to buy up tickets.

Huntersville's American Tire Distributors names new CEO

December 4, 2015

(The Charlotte Observer)

Stuart Schuette will become chief executive of American Tire Distributors, effective Jan. 4. Schuette was chief operating officer of Illinois-based US Foods. He replaces Bill Berry, who is retiring. ATD, which topped this year's North Carolina 100 list of the state's largest private companies, says it is one of the largest distributors of replacement tires in North America.

UNC Rex Healthcare earns top ranking

December 3, 2015

(The News & Observer, Raleigh)

Raleigh-based UNC Rex Healthcare is listed among the 98 top hospitals in the U.S. by the Leapfrog Group, which assessed more than 1,600 hospitals. It's the first time the 660-bed medical center has made the list. Rex topped Business North Carolina's annual list of top hospitals earlier this year. Two other N.C. hospitals – Carolinas HealthCare System-Kings Mountain and Northern Hospital of Surry County – were recognized in a separate listing of top rural hospitals.

Netsertive's latest financing grows to $24M

December 3, 2015

 (WRAL TechWire)

Netsertive, a Morrisville-based digital marketing company, said it has raised an additional $9 million since closing on a $15 million round of funding in October. Investors include River Cities Capital Funds and Babson Capital Management.