Business

Hundreds turn out for hearing on I-26 Connector in Asheville

November 17, 2015

(Asheville Citizen-Times)

Most local residents who spoke at a public hearing Monday said the state Department of Transportation's preliminary plan for widening Interstate 240 in West Asheville was too big. About 400 people met to discuss the project, which has been under discussion since the late 1980s. Estimated project costs range from $591.7 million to $785.4 million.

BNC Bancorp buying High Point Bank

November 17, 2015

(News & Record, Greensboro)

BNC Bancorp, parent of Bank of North Carolina, is buying the holding company for High Point Bank for about $141.3 million. High Point bank has 12 branches. High Point-based BNC, which now has 64 offices in the Carolinas and Virginia, will have about $6.8 billion in assets when the deal closes, expected to be in the second quarter of 2016.

Wilmington shopping center sells for $56.3 million

November 17, 2015

(Greater Wilmington Business Journal)

CBL & Associates Properties will sell Mayfaire Community Center, a 210,000-square-foot shopping center anchored by a Harris Teeter grocery store, to Principal Real Estate Investors for $56.3 million. Tennessee-based CBL paid $192 million in June for the center and the larger Mayfaire Town Center.

BofA scores low in customer satisfaction

November 17, 2015

(The Charlotte Observer)

For the fifth year in a row, Charlotte-based Bank of America placed last among the four biggest U.S. banks on an annual survey conducted by the American Customer Satisfaction Index. Among the largest banks, Wells Fargo received 75 out of 100 possible points, followed by Citibank (73), Chase (71) and Bank of America (68).
Also: BB&T, Wells Fargo have above average customer satisfaction scores

Piedmont Triad Partnership names new board members

November 17, 2015

(News & Record, Greensboro)

Joining the board of directors of the Piedmont Triad Partnership in 2016 are Cantey Alexander, Triad regional president of BB&T, Graham Bennett, president of Quality Oil, and Joe Budd, CEO of The Budd Group. Other new members include Kathleen Evans, David Neill and Robin Team.

Charlotte's Diamonds Direct bought by Blackstone

November 17, 2015

(The Charlotte Observer)

Diamonds Direct, a 20-year-old jewelry retailer and gem importer based in Charlotte, was acquired earlier this month by private-equity firm Blackstone for an undisclosed amount.

N&O site in downtown Raleigh sells for $20.2M

November 17, 2015

(The News & Observer, Raleigh)

A group of local developers will pay $20.2 million for The News & Observer's downtown Raleigh headquarters. Plans for the 3-acre site have not been finalized but could include a hotel and apartments.

Lincoln Harris to begin construction on second SouthPark tower

November 17, 2015

(The Charlotte Observer)

Chemical company Albemarle Corp. signed a lease for 47,060 square feet at Capitol Towers in Charlotte's SouthPark neighborhood. Other companies who have signed leases for the office project are Sterling Capital Management and Dixon Hughes Goodman. Developer Lincoln Harris plans to break ground later this year on a second tower at the site, which will include a total of 480,000 square feet of office space and 35,000 square feet of retail.

GKN to invest $19.8 million in Conover auto-parts plant

November 16, 2015

(Hickory Daily Record)

GKN Sinter Metals, a division of United Kingdom-based GKN, is investing $19.8 million in its Catawba County plant and plans to add 55 new jobs to its existing 83. The company makes auto parts for companies including General Motors and Ford. GKN employs more than 2,500 people in the state.

Old Dominion CEO lands on Fortune top 50 list

November 16, 2015

(Winston-Salem Journal)

David Congdon, who took over as CEO of Old Dominion Freight Line in 2008, ranked 23rd on Fortune magazine's list of the world's top 50 business people for 2015. During Congdon's tenure at the Thomasville-based trucking company, revenue has more than doubled and profits have increased fivefold, according to Fortune.