Eastern

New Hanover apartments sold for $22M

April 4, 2016

(Greater Wilmington Business Journal)

New York-based Gamma Real Estate paid more than $22 million for the first and second phases of The Park at Three Oaks, an apartment community with about 200 units in Ogden, located in northern New Hanover County.

Brunswick Realtor group's office face foreclosure

April 1, 2016

(Wilmington Business Journal)
The home of the Brunswick County Association of Realtors is facing foreclosure, prompting the association to leave the office in Supply and move to new space in Shallotte. It had bought the property 10 years ago and it includes a 5,600-square-foot ballroom. Bluefield, Va.-based First Community Bank is the lender on the property.

Loss of Titan plant, offshore drilling affect industrial outlook in eastern NC

March 30, 2016

(StarNews, Wilmington)

President Obama's decision to abandon a plan that would have allowed offshore drilling and Titan America's cancellation of a cement plant in Castle Hayne leave fewer prospects for industrial workers in southeastern N.C.

NC ports see growth in cargo volumes

March 30, 2016

(Greater Wilmington Business Journal)

The Port of Wilmington reported an 8% increase in container cargo volumes in February when compared with the same month a year ago. Container cargo shipments were up 18% for the 2014-15 fiscal year, according to a release Tuesday. The Port of Morehead City also reported a 19% year-over-year increase in tonnage through February.

Eastern NC railroad resumes service

March 29, 2016

(The News & Observer, Raleigh)

The former Carolina Southern railroad is up and running again after a five-year pause. R.J. Corman Railroad Co. bought the 90-mile short-line railroad last year. The line runs between Whiteville in Columbus County and Myrtle Beach, S.C.

LS3P merging with Savannah architecture firm

March 29, 2016

(Greater Wilmington Business Journal)

LS3P, which has offices in Charlotte, Raleigh and Wilmington, announced its second merger within the last three months. After combining with Hubbard Architecture in Myrtle Beach, the firm now plans to merge with Dawson Architects of Savannah, Ga., adding 20 employees. The Charleston, S.C.-based firm now employs more than 300 architects, designers and staff.

Downtown Wilmington is thriving, group says

March 28, 2016

(StarNews, Wilmington)

More than $200 million worth of development including apartments, hotels and mixed-use projects is underway in Wilmington's urban core, according to a presentation last week by Wilmington Downtown Inc., which promotes economic growth in the Port City. The group estimates 49 new businesses were started and 160 new jobs were created last year.

Little Washington-based bank targeted by investor pushing for change

March 28, 2016

An investor is pressing First South Bancorp to consider a possible sale, contending the Washington, N.C.-based community bank is underperforming and overpaying its directors.

Kinston hospital to partner with UNC Health Care

March 24, 2016

(Winston-Salem Journal)

The board of directors of Lenoir Memorial Hospital voted to pusue a management-services agreement with UNC Health Care. The Kinston hospital ended a similar agreement with Novant Health in late October. If an agreement is reached, it would be the 10th hospital that UNC Health Care owns or manages.

Townend named associate vice chancellor at UNCW

March 22, 2016

(StarNews, Wilmington)

UNC Wilmington named Paul Townend associate vice chancellor and dean of undergraduate studies. Townend is an associate professor and chair of the history department. He replaces Martin Posey, who became director of the school's Center for Marine Science in January.

PPD quiet on reports of potential sale

March 21, 2016

(StarNews, Wilmington)

Pharmaceutical Product Development's private-equity owners have remained tight-lipped since reports surfaced three months ago that the company was exploring a possible sale or initial public offering. PPD, which is owned by Carlyle Group and Hellman & Friedman, employs about 1,400 people at its downtown Wilmington headquarters.

Novant to anchor mixed-use project in Brunswick County

March 18, 2016

(Greater Wilmington Business Journal)

Novant Health is the first tenant lined up for Pine Forest Plantation, a mixed-use development in Brunswick County. The Winston-Salem-based health care provider plans to open a 30,000-square-foot medical office building at the 2,114-acre site.

Wilson nutrition lab gets 2-year Gates Foundation grant

March 17, 2016

(WRAL TechWire)

Craft Technologies received $844,395 from the Bill & Melinda Gates Foundation to fund research for blood-sample tests. Founded in 1994, the Wilson-based company provides nutritional analysis of foods, supplements and animal feeds.

McCrory criticizes Obama's reversal on offshore drilling

March 16, 2016

(WRAL.com)

In a statement Tuesday, Gov. Pat McCrory called Obama's reversal on offshore drilling along the southeastern coast "a special political favor to far-left activists that have no problem importing energy resources from countries hostile to the United States." Environmentalists and coastal communities reliant on tourism dollars cheered the move.
Also: Federal announcement on offshore leases generates applause, disapproval

Historic Fayetteville hotel to be renovated into apartments

March 16, 2016

(WRAL.com)

Fayetteville City Council voted unanimously to support the redevelopment of the Prince Charles Hotel. A group called Prince Charles Holdings LLC plans to renovate the historic structure into apartments which could later be converted to condominiums. The company wants the city to help develop 10 acres surrounding the hotel. Construction on the hotel is set to begin this summer.

Wilmington's AAI Pharma rebrands as Alcami

March 16, 2016

(Press release)

AAI Pharma Services and Cambridge Major Laboratories will now be called Alcami. The two pharmaceutical-services companies merged in 2013. Alcami employs nearly 1,000 people at seven locations in the U.S. and Europe.

Obama withdraws support for offshore drilling

March 15, 2016

(The New York Times)

In a reversal of his previous stance, President Obama is expected to withdraw a plan that would have permitted drilling for oil and gas off the southeastern Atlantic coast. Communities from Virginia to Georgia, including many along the North Carolina coast, opposed the plan, though supporters including Gov. Pat McCrory have said offshore drilling would create jobs and improve the state's economy.

Trump may pay legal bills for supporter charged with assault at rally

March 14, 2016

(The News & Observer, Raleigh)

On NBC's Face the Nation Sunday, Donald Trump said he will "explore the possibility" of helping pay the legal bills of John Franklin McGraw, a North Carolina man who was seen on video hitting a protestor at last week's Trump rally in Fayetteville.

Titan cancels Wilmington area project

March 11, 2016

(Greater Wilmington Business Journal)

Titan America said it will suspend construction of a proposed cement plant in Castle Hayne. The controversial project, introduced in 2008, drew supporters, who cheered the 160 jobs it would create, and opponents, who were concerned over a potential negative environmental impact.

Major League Baseball coming to Fort Bragg

March 10, 2016

(The Fayetteville Observer)

On July 3, the Atlanta Braves and Miami Marlins will play a regular-season game at a ballpark that will be specially built for the event at Fort Bragg. The temporary stadium will hold about 12,500 people, though tickets won't be available to the public — only Department of Defense ID cardholders can attend. After the game, the ballpark will be converted to an athletic facility for Fort Bragg soldiers and families.