Old GE plant in Conover is demolished

April 19, 2016

(Hickory Record)

A General Electric plant that once employed 1,200 people —  a significant number for the small community in the 1960s — has been razed. GE shuttered the plant, where ground-mounted transformers were made, in 1997 and moved production to Mexico. The city hopes to build a road at the site.

Two SouthPark office buildings sold for $35.5M

April 19, 2016

(The Charlotte Observer)

Two office buildings adjacent to SouthPark mall in Charlotte have sold for $35.5 million. The buyer is a partnership of Spectrum Properties and Intercontinental Real Estate Corp. Lionstone Investments was the seller. The buildings are 95% leased and comprise 178,338 square feet.

Qorvo to acquire Dutch chipmaker

April 18, 2016


Greensboro-based Qorvo will acquire GreenPeak Technologies, a Netherlands-based semiconductor company that develops RF chips for "smart home" communications (applications include home security, fire detection, lighting control and temperature monitoring) and the Internet of Things, a market expected to grow to $2.3 billion by 2020. Terms of the deal were not immediately disclosed.

Inside Asheville's failed beer deal

April 18, 2016

(Asheville Citizen-Times)

A look at Buncombe County's failed effort to attract Deschutes Brewery, a deal that would have involved an investment of up to $200 million and brought up to 237 jobs. Bend, Ore.-based Deschutes — the nation's sixth-largest craft beer company — instead chose Roanoake, Va., for its East Coast hub.

ECU reveals plans for $55M stadium renovation

April 18, 2016

(The Daily Reflector, Greenville)

Plans for Dowdy-Ficklen Stadium include a new press box and redesigned grandstand seating. The project will be financed through a $15 million fundraising effort ($10 million has already been committed); the remainder will come from sales of "premium" ticket plans, including club-level seats with a lounge area. Construction will begin after the 2017 football season and should be completed in time for the 2018 season.

Triangle condo market picks up

April 18, 2016

(The News & Observer, Raleigh)

Developers are finding success with smaller-scale condominium projects in the Triangle area. At 1300 St. Mary's in Raleigh, 32 of 39 units are under contract, with prices ranging from $199,900 to $750,900. Developer White Oak recently completed a nine-unit project in Durham where units sold for about $350 per square foot.

2 office builidngs in Charlotte's SouthPark sold for $34M

April 18, 2016

(The Charlotte Observer)

Fairview Center One and Two were sold to Atlanta-based Fairlead Commercial Real Estate for $33.75 million. Anchor tenants include law firm McAngus Goudelock & Courie and Zapata, an engineering firm. The seller was Charlotte-based Beacon Partners. Rental rates in the SouthPark area are up 14% over last year, according to CBRE.

Carter stepping down as CEO of Greensboro's HAECO

April 18, 2016

(Winston-Salem Journal)

Kevin Carter, chief executive of HAECO Americas, will step down May 31. Carter has led the aircraft-maintenance company, formerly Timco Aviation Services, since 2008. Deputy Chief Executive Richard Kendall will replace him. HAECO employs about 1,600 people in the Triad

Chiltern leasing bigger office in Wilmington

April 18, 2016

(Greater Wilmington Business Journal)

Chiltern, a contract-research organization with headquarters in the United Kingdom, is moving to a larger space in Wilmington's Barclay Center. The new office is about 10,000 square feet larger than the CRO's current space in nearby Barclay Commons.

Energy sector drags down profits at BofA, Wells Fargo

April 15, 2016

(The Charlotte Observer)

The two banks reported lower earnings for the first quarter as a result of stockpiling reserves to cover potential losses on energy loans. Bank of America reported $2.7 billion in profit, down about 13% from the same period a year ago, while Wells Fargo's profit slid about 6% to $5.46 billion.