Business

Alexandria Real Estate plans massive RTP project

November 25, 2015

(The News & Observer, Raleigh)

Alexandria Real Estate Equities plans to transform 56 acres in Research Triangle Park into a "world-class" campus for life-science and biotech companies. Plans call for more than 1 million square feet of space that includes a mix of new construction and renovation of existing buildings. The real-estate firm's venture capital arm will have an office on-site. The center will be modeled after similar developments in New York, San Francisco and Cambridge, Mass.

Google teams up with Duke Energy on Rutherford solar project

November 25, 2015

(The Charlotte Observer)

Google will buy energy credits to help power its Lenoir data center from a 61-megawatt solar farm that will be built in Rutherford County. It's part of a new partnership with Duke Energy called the Green Source Rider, in which customers that use a lot of power – such as those that operate data centers – agree to purchase renewable energy at premium rates.

Chapel Hill's Pozen could reincorporate in Canada

November 25, 2015

(The News & Observer, Raleigh)

New federal guidelines designed to make corporate tax inversions more difficult have prompted Pozen to reconsider plans to reincorporate in Ireland after its planned $146 million acquisition of Canada-based Tribute Pharmaceuticals. By instead reincorporating in Canada, the combined company – to be named Aralez Pharmaceuticals – will be in compliance with the new guidelines.

California cabinet maker to create 40 jobs in Shelby

November 25, 2015

(The Shelby Star)

Ivar's Cabinet Shop will invest $2.8 million in its first location outside of California. The 49-year-old company, which makes shelving and display cases for retailers, plans to create 40 jobs in Cleveland County over the next five years.

Westbend Vineyards sells for $1.6 million

November 25, 2015

(News & Record, Greensboro)

Westbend Vineyards, home to one of the state's first wineries, has been sold to a couple from Houston, Texas who hope to re-open it in the spring. The Lewisville winery closed to the public in March 2014. Former winemaker Mark Terry will work for the new owners as a consultant.

Attendance up 12% at Wilmington film festival

November 25, 2015

(Greater Wilmington Business Journal)

A total of 17,630 people attended this month's Cucalorous Film Festival in Wilmington, an increase of almost 12% from 2014. Financial information has not been released.

Florida bank to buy CommunityOne Bancorp for $350M

November 24, 2015

(The Charlotte Observer)

Capital Bank Financial Corp. will acquire Charlotte-based CommunityOne Bancorp for $350 million, pending regulatory approval. Capital Bank has $7.3 billion in assets with offices in the Carolinas, Tennessee and Virginia. Its banking operation is based in Raleigh. CommunityOne's assets total $2.4 billion.

Duke Energy wasn't Piedmont's only suitor

November 24, 2015

(The Charlotte Observer)

Charlotte-based Duke Energy outbid an unnamed company to buy Piedmont Natural Gas, according to securities filings Monday. The $6.7 billion deal, which includes $1.8 billion in debt, was negotiated within a window of about two months and appears to have been spurred by Atlanta-based Southern Co.'s plans to buy AGL Resources for $8 billion.

Health insurers owe NC customers $8.5M in refunds

November 24, 2015

(WRAL.com)

Insurance companies who failed to meet Affordable Care Act requirements must pay $8.5 million in refunds to customers in North Carolina, Insurance Commissioner Wayne Goodwin said Monday. United Healthcare owes the most – nearly $4.9 million – for failing to meet guidelines that require insurers to spend at least 80% of premium revenue on claims and improving health care quality.

Foreclosure sale of Wilmington mall delayed again

November 24, 2015

(StarNews, Wilmington)

The public auction of Independence Mall in Wilmington was rescheduled for Dec. 22, marking the third time the foreclosure sale has been delayed. Centro Independence, the mall's owner, defaulted on a $110 million loan.