Triangle

LIfe-sciences boom lifts Triangle real-estate market

October 5, 2015

(The News & Observer, Raleigh)

The Triangle real-estate market is getting a boost from life-sciences companies establishing offices or moving to be near other related businesses. While a recent JLL study showed rents for life-sciences companies have increased 12.4% compared with last year, costs are still far less than other life-sciences hubs such as Boston and San Francisco.

Local officials, execs tout RTP modernization

October 2, 2015

(The News & Observer, Raleigh)

Research Triangle Park's ambitious redevelopment project is finally getting off the ground thanks to $50 million in financing, including $20 million from Durham County. Business leaders say it will be an economic engine for the area and provide the kind of work/live space attractive to tech companies and millennials.

RTP redevelopment project to begin Jan. 1

October 1, 2015

(The News & Observer, Raleigh)

The Research Triangle Foundation will begin the first phase of redevelopment of its 50-acre Park Center Jan. 1. Build out of the first phase, which will include a 5,000-seat amphitheater and has sites for hotels, offices and apartments, is expected to take 7 to 10 years.

Raleigh's Highwoods invests $427M in Atlanta, Tampa properties

October 1, 2015

(The News & Observer, Raleigh)

Highwoods Properties will pay $303 million for a two-building office complex in Atlanta's Buckhead area and $124 million for the 35-story SunTrust Financial Center in downtown Tampa. The Raleigh-based REIT also plans to sell a retail and office complex in Kansas City.

Durham County will invest $20M in RTP's modernization

September 29, 2015

(The News & Observer, Raleigh)

Durham County commissioners approved spending up to $20 million to help pay for the redevelopment of RTP's Park Center. Plans call for adding 600 apartments, 1 million square feet of office space, hotels and retail space. The county funding will help pay for infrastructure, parking and public parks.

Novo Nordisk gains FDA approval for diabetes drugs

September 29, 2015

(WRAL TechWire)

Shares of Novo Nordisk rose Monday after the company received FDA approval for two diabetes treatments. The Danish drugmaker employs 720 people at a manufacturing plant in Johnston County and recently announced plans for an expansion that will create 691 new jobs over five years.

Raleigh food truck wins Food Network title

September 28, 2015

(WRAL.com)

A Raleigh's Pho Nomenal Dumpling was named "Best Food Truck in America" on the Sunday night finale of the Food Network's "Great Food Truck Race." The Pho Nomenal team said they plan to use the $50,000 prize to open a brick-and-mortar location.

Delta adding nonstop flight from RDU to Paris

September 25, 2015

(The News & Observer, Raleigh)

Delta Air Lines will offer daily nonstop flights from RDU to Paris beginning in May, enabling passengers to catch connecting flights to more than 75 European destinations. It's the second nonstop route from RDU to Europe; American Airlines offers daily flights to London.

GSK spinoff acquired by Boston biotech firm

September 25, 2015

(The News & Observer, Raleigh)

Phoundry Pharmaceuticals, which was started seven months ago by a group of former GlaxoSmithKline researchers, was acquired by Boston-based Intarcia for an undisclosed amount. RTP-based Phoundry develops peptides for the treatment of diabetes.
Read how GSK's move to slim down R&D operations is spawning new Triangle life-sciences companies in BNC's September cover story.

Durham approves $5.25M incentive for innovation district

September 25, 2015

(The News & Observer, Raleigh)

The Durham City Council approved $5.25 million in incentives to help fund the $87 million first phase of a 15-acre innovation district being developed by Boston-based Longfellow Real Estate Partners and Durham-based Measurement Inc. The first of three project phases is expected to generate 850 jobs.

Report: Citrix looking for a buyer

September 24, 2015

(The News & Observer, Raleigh)

Citrix Systems said in July it was considering a sale or spinoff of its GoTo business, which includes GoToMeeting. The business software company, which has a market cap of $11.6 billion, now appears to be seeking a buyer for its entire business, according to a Reuters report. Citrix employs about 600 people in Raleigh.

Deutsche Bank adding 250 jobs at Cary technology center

September 23, 2015

(WRAL TechWire)

Deutsche Bank will add 250 jobs with an average annual salary of $85,600 and invest $9 million by the end of 2016 at its Cary campus. The new jobs will include technology engineers, software developers and analysts. The financial-services company currently employs 600 people in the Triangle.

TransEnterix buys Italian robotics business for $99.8M

September 23, 2015

(The News & Observer, Raleigh)

Morrisville medical-device maker TransEnterix has acquired the surgical robotics division of an Italian health care company in a deal valued at $99.8 million.

Longfellow completes $118M purchase of Durham office park

September 22, 2015

(WRAL TechWire)

Longfellow Real Estate Partners paid $117.7 million for 11 buildings at Keystone Technology Park in Durham, boosting the Boston-based real-estate investor's North Carolina portfolio to more than 1.2 million square feet. Longfellow is also developing a 1.7 million-square-foot innovation district in downtown Durham.

Red Hat's 2Q results exceed Wall Street's expectations

September 22, 2015

(The News & Observer, Raleigh)

Red Hat reported second-quarter revenue of $504 million, up 13% from a year ago and beating analysts' expectations. The Raleigh-based software company, which employs 7,900 worldwide, also raised its guidance for the full fiscal year. Red Hat shares have risen 5% this year.

Triangle universities launch nanotech network

September 21, 2015

(WRAL TechWire)

Through a five-year, $5.5 million National Science Foundation grant, Duke University, N.C. State and UNC Chapel Hill are forming a new partnership that will allow businesses and educators access to nanotechnology facilities and resources.

Align Technology to create 100 jobs in Cary

September 18, 2015

(The News & Observer, Raleigh)

The maker of Invisalign braces has opened a Cary office and plans to create more than 100 jobs over the next five years. Align Technology will invest $4 million in the Cary office, its first East Coast location. Most of the new jobs are in R&D and software product development; salary information was not available. Align is based in Amsterdam and has its U.S. headquarters in San Jose, Calif.

Credit Suisse leases new office space, plans to ramp up hiring in Triangle

September 18, 2015

(The News & Observer, Raleigh)

Credit Suisse plans to hire about 300 new employees next year now that the financial-services firm has leased additional office space in Morrisville. The 70,000-square-foot space will be subleased from electronics-maker Lenovo. Credit Suisse employs about 1,670 at RTP.

Prominent developer wants Raleigh to allow taller buildings

September 17, 2015

(The News & Observer, Raleigh)

Empire Properties is asking Raleigh City Council to allow for taller buildings at 25 of its downtown properties. The real-estate firm, led by Greg Hatem, wants to build towers with up to 20 stories on sites now capped at seven or 12 stories, and 12-story buildings on sites zoned for four or five stories.

Goetz: Triangle second to Silicon Valley

September 17, 2015

(WRAL TechWire)

Sequoia Capital's Jim Goetz, named the top venture investor of 2015 by Forbes magazine, said the Triangle is the second most important area in the United States behind Silicon Valley. The area's top research universities – Duke, UNC Chapel Hill and N.C. State –  are part of the reason why.