Business

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.

Asheville business owner: Don't boycott my store over law I despise

April 15, 2016

(The New York Times)

The owner of Malaprops Bookstore/Cafe in downtown Asheville writes an op-ed that describes how local businesses suffer when artists, customers and others boycott North Carolina over a law many don't support. Linda-Marie Barrett urges opponents of the law to consider new ways of protesting.

Logisitics company creating 60 jobs in Greensboro

April 15, 2016

(News & Record, Greensboro)

NFI, a privately held company based in Cherry Hill, N.J., will move into a 1.6-million-square-foot distribution warehouse previously occupied by Kmart. The company provides transportation and warehousing services. NFI employs 8,000 people and say it has $1.2 billion in revenue.

Triangle startups raise $63.7M in first quarter

April 15, 2016

(The News & Observer, Raleigh)

Despite what many predict will be a challenging year for fundraising, a dozen Triangle-area startups raised $63.7 million in the first quarter, more than the $50.9 raised in the fourth quarter of 2015 but less than the first three quarters of last year. Biotech company Envisia Therapeutics raised $16.5 million and Valencell, which makes technology for wearable devices, raised $11 million.

Raleigh's NephroGenex fires top execs, moves to sell assets

April 15, 2016

(The News & Observer, Raleigh)

The Raleigh drug developer fired CEO Pierre Legault and Chief Scientific Officer Jaikrishna Patel as it looks at ways to sell its assets. NephroGenex, which faces a stock delisting since shares have fallen below $1, said it is restructuring and may consider a reverse merger, an alternative that allows a private company to go public without an initial public offering. Its stock has plunged 95% over the last year.