Triangle

Downtown Raleigh lot draws $3.5 million offer

August 13, 2015

(The News and Observer)

Blue Heron Real Estate Opportunity Fund II, LP offered $3.5 million for a 1.2-acre site in downtown Raleigh owned by the city. The Chapel Hill-based group’s bid topped two other Triangle-area development companies.

 

Argos Therapeutics notches $19.6 million loss

August 13, 2015

(The News and Observer)

Argos Therapeutics, a Durham drug developer, said it lost $19.6 million in the second quarter as it boosted research and development spending.

Dennis Wicker's near-death experience

August 10, 2015

(WRAL.com)

Former Lt. Gov. Dennis Wicker tells an incredible story of surviving a medical emergency

Raleigh developer Kane tweaks tower proposal

August 7, 2015

(The News & Observer, Raleigh)

Kane Realty revised plans for a proposed $150 million mixed-use project in downtown Raleigh's warehouse district. The new plans call for a 17-story tower along with a smaller nine-story building and would prohibit bars – defined by the city as businesses that earn 70% of profits from alcohol sales.

ChannelAdvisor taps Red Hat's Cook for CFO post

August 5, 2015

(WRAL TechWire)

Mark Cook will become CFO of ChannelAdvisor, replacing John Baule, who is retiring. Cook is vice president of finance at Raleigh-based software company Red Hat. It's the second leadership change recently announced by the Morrisville-based e-commerce company; former ChannelAdvisor COO David Spitz replaced Scot Wingo as CEO in May.

SC developer to pay $21 million for state-owned land in Cary

August 5, 2015

(The News & Observer, Raleigh)

South Carolina-based Columbia Development Group will pay $21.15 million for a 95 acres off Cary Towne Center Boulevard that is currently owned by the state. The developer's plans are unknown, though Cary Mayor Harold Weinbrecht said the project could include retail and office space.

Investors favor Triangle-based CROs

August 4, 2015

(The News & Observer, Raleigh)

Shares of Raleigh-based INC Research and PRA Health Sciences have risen 95% and 75%, respectively, this year, while Durham-based Quintiles shares are up 31%. All three contract-research organizations posted second-quarter results that beat analysts' expectations.

Lenovo slips in smartphone market share rankings

August 4, 2015

(The News & Observer, Raleigh)

Lenovo dropped from third place to fifth in overall market share of smartphones, based on reports from two market-research firms. Lenovo's smartphone shipments fell 33.3% in the second quarter compared with the previous year.

Parexel laying off 125 in Durham

August 3, 2015

(The News & Observer, Raleigh)

In a notice filed with the N.C. Commerce Department, Parexel confirmed it plans to lay off 125 workers in Durham. The contract-research organization said in June it was laying off about 5% of its global workforce.

Durham ranked ninth-best city for creative people

August 3, 2015

(WRAL TechWire)

A thriving music scene and premier performing arts center helped Durham earn the No. 9 spot on SmartAsset's latest list of "Best Cities for Creatives."

NC revenue grew 6% in fiscal 2014-15

August 3, 2015

(The News & Observer, Raleigh)

North Carolina's revenue for the year that ended June 30, 2015 exceeded $21.4 billion, about $445 million more than projected and a 6% increase over the previous year.

Steep rents driving out downtown Raleigh businesses

July 31, 2015

(WRAL.com)

As apartment and condo construction booms in downtown Raleigh, many business owners say they can't afford increasing monthly rents. Natty Greene's Pub and Brewing Co. and Trig Modern furniture store are among the casualties.

Raleigh's INC Research posts strong 2Q results

July 31, 2015

(The News & Observer, Raleigh)

INC Research reported net income of $28.6 million for the second quarter, up from $11.1 million a year ago. The Raleigh-based contract-research organization raised its guidance for the year and projects annual revenue of $900 million to $910 million. Shares rose 10% Thursday following the report, closing at $47.62.

Former GSK employees face layoffs at RTP

July 30, 2015

(WRAL TechWire)

Reports indicate up to 200 Parexel employees were laid off Wednesday, though the company would not confirm the cuts. The workers are former employees of GlaxoSmithKline, which said it in February it planned to transfer some of its workforce to the Boston-based life-sciences company.
Related: GSK shares rise after earnings beat estimates

Mergers boost 2Q results for First Citizens

July 30, 2015

(The News & Observer, Raleigh)

First Citizens BancShares reported a 67% increase in net income in the second quarter, from $26.7 million to $44.5 million. The Raleigh-based bank attributed the improved earnings to its acquisitions of South Carolina-based First Citizens Bancorporation and Trust and Atlanta-based Capitol City Bank and Trust.

Citrix CEO to retire; company may spin off GoTo products

July 29, 2015

(The News & Observer, Raleigh)

Citrix Systems announced that CEO Mark Templeton will retire once a successor is named. Templeton has been CEO of the software company since 2001. Citrix, which employs about 600 in Raleigh, said it is considering a sale or spinoff of its GoTo products, including GoToMeeting, amid pressure from an activist investor.

Triangle ranked No. 2 real-estate market for life-sciences industry

July 28, 2015

(The News & Observer, Raleigh)

The Triangle ranked second only to Boston as a top U.S. real-estate market for life-sciences companies, according to a report from real-estate services firm JLL. The report was based on factors including concentration of life-sciences workers, venture-capital funding and government funding.The region ranked fourth last year.

Durham startup raises $13M

July 28, 2015

(The News & Observer, Raleigh)

Durham-based startup Baebies completed a $13 million financing that included Rex Health Ventures and Duke Angel Network. The company is developing technology to expand newborn health screenings. Baebies employs 40 people; co-founder Richard West expects that number to grow now that the financing round is complete.

Scandals aside, UNC fundraising rebounds in 2014-15

July 27, 2015

(Durham Herald-Sun)

UNC Chapel Hill raised $447 million in fiscal 2014-15, the first year of a seven-year fundraising campaign, a 44% increase over the previous year. The campaign was boosted by Fred Eshelman's $100 million gift to the pharmacy school.
Related: "The Carolina way," July 2014

Projects will help transform downtown Durham

July 27, 2015

(The News & Observer, Raleigh)

Two new developments on about 18 acres near the American Tobacco Campus will add much-needed office space in downtown Durham, where the occupancy rate is 93%. Apartments, retail shops and hotels are also planned.