Triangle

Highwoods sells 11 non-core properties in Richmond, Va.

August 27, 2014

(The News & Observer, Raleigh)

Raleigh's Highwoods Properties sold 11 buildings totaling 359,000 square feet in Richmond, Va., for $40.7 million. The real estate investment trust has sold $103.4 million of its non-core properties this year.

Duke Energy Progress requests permission to cut residential solar rebates

August 26, 2014

(The News & Observer, Raleigh)

Duke Energy Progress wants to reduce the amount of upfront rebates for more than 500 homeowners that use rooftop solar arrays from $500 to $250 per kilowatt. Homes with solar panels currently receive upfront rebates between $1,000 and $5,000, plus monthly credits.

Chapel Hill drug developer raises $7.5 million

August 26, 2014

(The News & Observer, Raleigh)

Chapel Hill-based drug developer Heat Biologics received $7.5 million in debt financing from Durham-based Square 1 Bank. The company is developing treatments for bladder cancer and lung cancer.

Durham's Argos leases land for new $41M headquarters

August 25, 2014

(The News & Observer, Raleigh)

Argos Therapeutics signed a 10-year lease in Durham County where the drug developer will invest $41 million to build a new headquarters and manufacturing plant. Argos, which raised $45 million in an initial public offering in February, plans to create 236 new jobs by 2018.

Organic poultry company to renovate former Townsends plant in Siler City

August 25, 2014

(The News & Observer, Raleigh)

Carolina Premium Foods plans to invest $4 million to renovate a former Townsends chicken-processing plant in Siler City. The Whispering Pines-based company, which produces organic, free-range poultry products, expects to create 300 jobs within five years.

Hundreds attend Sanford fracking hearing

August 25, 2014

(The Fayetteville Observer)

More than 400 people attended a four-hour hearing on fracking for natural gas in Sanford Friday. The majority of the 85 speakers voiced opposition to the practice, which supporters say will create jobs in the area. 

Lee County to host public fracking meeting

August 22, 2014

(WRAL.com)

Sanford residents will attend a public hearing Friday evening to voice opinions on hydraulic fracturing. Lee County is in the heart of the Deep River Basin, which scientists believe to be the most promising site in the state for shale gas potential (Statewide, Triangle Region, July). The public meeting is one of four planned by the state Mining and Energy Commission. 

Raleigh apartment complex sells for $50 million

August 22, 2014

(The News & Observer, Raleigh)

Legacy at Wakefield, a 369-unit apartment complex in north Raleigh, sold for $50.5 million to Carter-Haston, a Nashville, Tenn.-based investment and property-management company.

Cary-based Ply Gem to acquire Ohio window company for $130M

August 21, 2014

(The News & Observer, Raleigh)

Cary-based Ply Gem Holdings will pay $130 million for Simonton Windows, a Columbus, Ohio-based vinyl window and door manufacturer with annual revenues of more than $300 million. Ply Gem makes vinyl siding, doors and windows and employs more than 6,200 people in North America.

Smith Center renovation plans on hold

August 21, 2014

(The News & Observer, Raleigh)

Plans to renovate or replace the Smith Center at UNC Chapel Hill have been placed "on the back burner," according to Athletic Director Bubba Cunningham. Retrofitting the arena, which opened in 1986, with features including luxury boxes and premium seating could cost tens of millions of dollars. 

Four Oaks Bank raises $24 million through stock offering

August 20, 2014

(The News & Observer, Raleigh)

Four Oaks Bank raised $24 million in a common stock offering priced at $1 per share. The Johnston County bank says the new capital will help it comply with a 2011 agreement with state and federal regulators and will allow it to expand its loan portfolio.

Moore County delays agreement on 3,000-acre megapark

August 20, 2014

(The Fayetteville Observer)

Moore County commissioners decided to delay an agreement with Montgomery County on a 3,000-acre industrial park. County leaders say they support the project but want to simplify the terms of the agreement. Two-thirds of the proposed site is in Moore County.

Wake County to hit 1 million residents Friday

August 19, 2014

(The News & Observer, Raleigh)

Based on the average growth rate of 62 people a day, Wake County is expected to reach the milestone of 1 million residents on Friday. The majority of Wake's growth comes from net migration − about two thirds of new residents come from other states, foreign countries and other counties in North Carolina.

Silicon Valley venture-capital firm looking to RTP for opportunities

August 19, 2014

(The News & Observer, Raleigh)

HealthQuest Capital, a Silicon Valley-based venture-capital firm, is looking to invest in life-sciences companies in North Carolina and other parts of the Southeast. The firm was founded by Garheng Kong, a former partner at Durham's Intersouth Partners, who says the region has long been underfunded when it comes to venture-capital investments.

Mark Martin named chief justice of NC Supreme Court

August 19, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory appointed Mark Martin chief justice of the N.C. Supreme Court. Martin, a Republican and senior associate justice since 2006, will replace Sarah Parker, who is retiring at the end of August, and will serve in the position for the next two months. He is seeking election to the seat in November.

Federal government approves Lenovo-IBM server deal

August 18, 2014

(The News & Observer, Raleigh)

The U.S. government approved Lenovo's pending $2.3 billion acquisition of IBM's low-end server unit. China-based Lenovo expects the deal, which will nearly double its Triangle employment of 2,200, to close by year-end.  

New law requires 3-judge panel for constitutional cases

August 18, 2014

(The News & Observer, Raleigh)

A new state law will require a panel of three judges, appointed by the chief justice of the state Supreme Court, to preside over constitutional challenges to laws. The state legislature passed the law to prevent plaintiffs from shopping for judges who they believe are likely to block laws approved by legislators.

NC to pay off federal unemployment debt sooner than planned

August 18, 2014

(The News & Observer, Raleigh)

North Carolina says it is ahead of schedule on paying off federal debt amassed to pay off unemployment benefits after the Great Recession. The state now owes less than $600 million, down from a peak of $2.8 billion, and expects to pay it off by August 2015, earlier than its target date of November 2015.

Lenovo quarterly profits exceed expectations

August 15, 2014

(The News & Observer, Raleigh)

Lenovo posted a 23% increase in profit in its fiscal first quarter ended in June, led by gains in the smartphone and PC markets. The Beijing-based computer maker employs about 2,200 at its North American headquarters in Morrisville.

McCrory defends handling of ethics filings

August 15, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory said he sold his stock in Duke Energy in April in response to media attacks that challenged his character, and that no rules were broken in the ethics filings regarding the sale. McCrory, a longtime employee of the Charlotte-based utility, issued the statement in response to the Raleigh News & Observer's front-page story that said he submitted incorrect filings earlier this year regarding his ownership of the stock.