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Raleigh Triangle Local and Business News

  • Shoppes at Bedford in Raleigh sold to Durham investment group

    Local real estate investor Jeffery Smith of Cary has sold the Shoppes at Bedford retail center on Falls River Avenue in north Raleigh for $3.15 million.

    The buyer was an investment group led by Andrew Widmark of Mark Properties in Durham, according to deed records.

    The 29,074-square-foot shopping center was 96 percent occupied at the time of the sale, says Andrew Margulies, associate director for Marcus & Millichap’s National Retail Group, who represented Smith and his partners in the deal.

    Tenants…

  • RTP drug company gets access to IBM supercomputer

    Cloud Pharmaceuticals unveiled expansion of its drug design and development program and was granted 1 million core-hours on an IBM super computer.

    With an office in Research Triangle Park, Cloud performs early-stage drug development. It casts a wide net to find potential new drugs or therapies and then licenses them to other companies to carry the development baton forward. Cloud will have access to Mira, a 10-petaflops IBM Blue Gene/Q supercomputer at the Argonne Leadership Computing Facility to…

  • Brier Creek apartments in Raleigh sold for $37.5M

    McCann Realty Partners and New York-based DRA have purchased The Crest at Brier Creek Apartments, a 291-home community in Raleigh, for $37.5 million.

    Built in 2013 near ACC Boulevard and Glenwood Avenue, the garden apartment community is located in the Brier Creek submarket in northwest Raleigh will provide the two buyers with an upscale asset.

    “The Crest at Brier Creek provided us with the opportunity to purchase a newly constructed Class A asset in a good location that will benefit from the dynamic…

  • Small SC town rallies for fired gay police chief

    Lesbian Police ChiefWhen openly gay police chief Crystal Moore was fired by a mayor who condemned her lifestyle as “questionable,” she feared her two decade career in law enforcement in this town was over.

  • Terrific World Cup ends with marquee final

    Brazil Soccer WCup ArgentinaThe World Cup is ending with a marquee match-up of Argentina against Germany, and host Brazil rushing to be ready for an even bigger logistical challenge: the 2016 Olympics.