Charlotte

Charlotte's Pepsi bottling site marketed for redevelopment

February 3, 2015

(The Charlotte Observer)

Cushman & Wakefield Thalhimer is marketing a Pepsi bottling complex as a mixed-use site that could include retail, office and residential. It's one of the last parcels along the Blue Line light rail route in Charlotte's South End that hasn't been redeveloped. 

Statesville approves incentives for Highland Industries

February 2, 2015

(The Charlotte Observer)

Statesville City Council approved $70,000 in economic-development incentives for Highland Industries, which plans to create at least 26 jobs over three years. The company, which makes textiles for the automotive and aerospace industries, will invest $7.4 million in equipment and renovations in a 62,000-square-foot spec building in the city's business park. 

Dollar General formally ends bid to buy Family Dollar

February 2, 2015

(The Charlotte Observer)

A week after shareholders approved Family Dollar Stores' plan to be acquired by Dollar Tree, Dollar General formally ended its takeover bid for the Matthews-based retailer.

Alevo names former Duke Energy exec director of sales

February 2, 2015

(The Independent Tribune, Concord)

Alevo Group hired Jeff Gates as director of sales and field operations. Gates worked for 14 years at Charlotte-based Duke Energy, where he specialized in energy storage for the past six years and was involved in the development of a $44 million storage system at a Texas wind farm. Last year, Alevo acquired the former Philip Morris plant in Concord for $68 million and plans to hire 2,500 workers within three years (Statewide, December 2014).

 

CommunityOne eyes acquisitions

January 30, 2015

(The Charlotte Observer)

After posting five profitable quarters in a row, Charlotte-based CommunityOne Bank is looking to acquire or merge with other lenders. The bank, formed in 2013 after merging with Bank of Granite, plans to close six branches this year in a cost-cutting effort.

Five defendants sentenced in Operation Wax House

January 30, 2015

(The Charlotte Observer)

Five defendants were sentenced for their role in the Operation Wax House mortgage-fraud case in south Charlotte and Waxhaw. According to the United States Attorney's Office of the Western District of N.C., 89 people have pleaded guilty or have been convicted since the investigation began in 2007. 

Family Dollar CEO selling company shares

January 30, 2015

(The Charlotte Observer)

The CEO of Family Dollar Stores plans to divest 1 million to 2 million shares of the Matthews-based company's stock over the next 10 days. Howard Levine currently owns about 7.8% of the company's outstanding stock and is its largest individual shareholder.

NASCAR Hall sponsorships drop to $110,000

January 29, 2015

(The Charlotte Observer)

Sponsorship revenue at the NASCAR Hall of Fame in Charlotte has dropped from $1.5 million in 2012 to $110,000 for the fiscal year beginning in July, which could help explain why Bank of America and Wells Fargo agreed to write off $17.6 million in debt and accrued interest from a museum loan.

Rite Aid moving 350 jobs from Charlotte to SC

January 29, 2015

(The Charlotte Observer)

Rite Aid will close its Charlotte distribution center and consolidate operations in a $90 million center it is building in Spartanburg, S.C. Affected workers can apply for jobs at local Rite Aid stores or at the new South Carolina location, which is expected to open by March 2016.

Other Mecklenburg towns want Google Fiber

January 29, 2015

(The Charlotte Observer)

Mecklenburg County residents outside of Charlotte − including in Huntersville and Mint Hill − want Google to bring its ultrafast Internet network to their towns as well. About 200,000 of the county's nearly 1 million residents live outside of the city limits.

Hickory-based CommScope buying TE Connectivity units

January 28, 2015

(Winston-Salem Journal)

CommScope Holding will pay about $3 billion for TE Connectivity's telecommunications, enterprise and wireless businesses. The deal, expected to close by year-end, will allow the Hickory-based company to expand its geographic footprint.

Hedge fund sells Family Dollar shares

January 28, 2015

(The Charlotte Observer)

Trian Fund Management sold about 6 million shares of Matthews-based Family Dollar Stores, reducing its ownership stake from 8% to about 2%, according to a securities filing Tuesday. A separate SEC filing showed that 89% of the discount retailer's shares who voted approved its pending $8.5 billion sale to Chesapeake, Va.-based Dollar Tree.

Carolinas HealthCare's contract with insurer set to expire

January 28, 2015

(The Charlotte Observer)

Carollinas HealthCare System's contract with insurer UnitedHealthcare will expire Feb. 28 if the two companies are unable to strike a deal. Negotiations began last fall, but the insurance company says there are still two points of disagreement.

Sonic Automotive looks to expand in 2015

January 27, 2015

(The Charlotte Observer)

Sonic Automotive plans to acquire more auto dealerships and expand its chain of EchoPark used-car retail stores. The company plans to spend $200 million on real estate and buildings in 2015. Charlotte-based Sonic has more than 100 dealerships in 14 states, mostly in the Southeast and Southwest. 

Charlotte, Triangle await Google announcements this week

January 26, 2015

(The Charlotte Observer)

Officials in Charlotte received a "Save the Date" invite from Mountain View, Calif.-based Google for a reception Wednesday evening. Raleigh-Durham officials also received invitations to a similar event on Wednesday afternoon. Google is considering Charlotte and seven Triangle cities for deployment of its Google Fiber high-speed Internet service, which is nearly 100 times faster than traditional broadband.

Bank of America expanding into Colorado, Minnesota

January 26, 2015

(The Charlotte Observer)

Bank of America held a grand opening for its first branch in Colorado, the first new market the bank has entered since 2003. The Charlotte-based bank also plans to open its first branch in Minnesota in the second quarter.

Family Dollar shareholders approve sale to Dollar Tree

January 23, 2015

Family Dollar Stores Inc. shareholders voted Thursday to approve the sale of the Matthews-based discount retailer to Chesapeake, Va.-based Dollar Tree Inc.
Related: Next for Family Dollar: Completing the deal

Cannon indicted on voter fraud

February 4, 2015

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon was indicted this week on a charge related to an illegal vote he cast at an early voting site in last year's election. Cannon is serving a 44-month sentence at a West Virginia federal prison for a accepting bribes from FBI undercover agents.

Charlotte distribution center sells for $52M

January 23, 2015

(The Charlotte Observer)

The 1.1-million-square-foot Logistics Pointe distribution center in southwest Charlotte has sold for more than $52 million. A joint venture of LRC Opportunity Fund and New York Life Real Estate Investors bought the complex, which was once occupied by grocer Winn-Dixie before it declared bankruptcy.

Chiquita says leaving Charlotte will cost up to $40 million

January 22, 2015

(The Charlotte Observer)

Chiquita Brands International said exiting Charlotte will cost it $25 million to $40 million, including employee severance and relocation expenses and breaking its lease, which runs through 2025. The produce company also will refund about $2 million in state and local incentives. Closing its headquarters will take between 12 and 18 months, Chiquita said in a securities filing.