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A closer look at NHRMC sale Page 6
What’s in store
The Northside Food Co-op plan advances Page 19
Index Banking & Finance .............................4-5 Health Care ........................................6-7 Economic Development.......................... 8 The List ............................................9, 14 In Profile...............................................11 Real Estate .................................... 12-13 Business of Life.............................. 18-19
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PHOTO BY MICHAEL CLINE SPENCER
On the job: The SBA’s Paycheck Protection Program has helped in The Queensboro Shirt Co.’s efforts to retain employees, like Teresa Thomas (at left). Also shown is Fred Meyers, president and founder of Queensboro.
SAFETY NET
PAYCHECK PROTECTION PROGRAM PROVIDES A LIFELINE FOR SOME
BY CHRISTINA HALEY O’NEAL
W
ithin three days of applying in January, Wilmingtonbased company Queensboro received its second round of coronavirus relief funds from the SBA’s Paycheck Protection Program. The announcement by the federal government late last year to reopen the U.S. Small Business Administration’s PPP loans couldn’t have come at a better time for The Queensboro Shirt Co., a custom embroidery and printed apparel business, and its online business Queensboro.com. The move allowed Fred Meyers, founder and president of the company, to solidify
plans to keep the 80-employee workforce on board for 2021, he said. “If this loan did not come through, we would be thinking a lot differently about what to do now,” Meyers said, adding that it kept the company from having to reduce its workforce by as much as 50%. “I’ve been in business for 40 years now. And it was the first time I felt like ‘Wow, the government really helped me here,’” Meyers said. Queensboro’s loan was part of the more than 5,300 loans made in North Carolina in the PPP’s second round, according to SBA’s PPP loan data as of Jan. 24. That same data showed nearly 400,600 PPP loans were approved this year across the nation, worth more than $35 billion, since the second round opened Jan. 11. In total, the PPP has supported businesses nationally through 5.5 million loans, See PPP, page 10
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| FROM WILMINGTONBIZ.COM | This is a sampling of stories from the Business Journal’s Daily Update. Subscribe at wilmingtonbiz.com.
Apiture announces $10M investment by BHG (Jan. 27) Officials with Wilmington-based Apiture, a financial technology firm that specializes in digital banking services, announced recently that the company has received a $10 million investment. Bankers Healthcare Group (BHG) is the investor, according to a news release. BHG is a fintech firm that provides loans and other financial services to licensed health care practitioners and other highly skilled professionals, according to the firm's website. The funding, finalized in December, comes in addition to the $20 million raised by Apiture in July 2020. Apiture plans to use the $10 million to accelerate key features on its product roadmap for 2021. Chris Babcock, Apiture CEO, said, “Having the support and partnership of the team at Bankers Healthcare Group, in addition to the investments made earlier in 2020, will
help us to succeed in our mission to transform the digital banking space as a long-term innovator.” Apiture is a joint-venture of Live Oak Bank and Atlanta-based First Data. Founded in October 2017, Apiture employs 160 people in Wilmington and also has offices in Austin, Texas. The company is currently hiring, particularly for software engineers and product managers, said Chris Cox, COO.
Movie magazine chooses area for ‘Best’ list (Jan. 26) The Wilmington region has been named on MovieMaker Magazine’s list of the Best Places to Live and Work as a Moviemaker, according to an announcement from the Wilmington Regional Film Commission. Wilmington’s ranked No. 9 out of 10 in the Small Cities and Towns category on the 2021 list, which also includes a list of the top Big Cities. Wilmington was the only North Carolina location that made it into the overall rankings. “Wilmington continues to regain its position as a top destination for film and television production business,” said Johnny Griffin, director
of the Wilmington Regional Film Commission, in the release.
Large coworking space opens downtown (Jan. 26) Texas-based coworking and hospitality company Common Desk recently opened the doors to its downtown Wilmington location. Building owner East West Partners hired Monteith Construction Corp. to transform the historical Gaylord Building, 226 N. Front St., into three floors of Common Desk flexible coworking, office and event space. The Wilmington Common Desk has nearly 23,000 square feet, featuring nine conference rooms, 34 private offices, four team suites and areas for shared-desk coworking. Common Desk, founded in 2012, "specializes in an all-inclusive model of thoughtful and functional amenities," and members "enjoy everything from cocktails to coffee to conference room bookings, at no extra cost outside of their monthly membership prices," the release stated. The first floor is designed to double as an event space for hosting networking events, happy hours and meetups after hours.
TOP-READ STORIES ONLINE Here are the most popular stories for January 25 - 30 from the Business Journal’s website. 1. Carolina Crab House offers a taste of Louisiana 2. nCino plans new office building 3. Downtown grocery store founders share details 4. Major downtown redevelopment project back on the radar 5. In downtown Wilmington, coworking space opens in overhauled building 6. Pine Valley Market expands prepared foods options 7. What's next for mixed-use project on South College Road 8. Genesis Block names 10 companies selected for business accelerator 9. Project with apartments, retail proposed off Carolina Beach Road 10. W ilmington ranks on MovieMaker's Best Places to Live and Work To read more, go to wilmingtonbiz.com
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| BANKING & FINANCE |
R
Spreading the nCino wealth “
ipples from nCino’s initial public offering last July may be lapping at the shores of the local economy. The banking software company’s post-IPO lockup period ended Jan. 11. That means that initial investors, directors and employees are free to sell shares they have held during that time. And numerous nCino (Nasdaq: NCNO) officials and employees are doing just that, according to reports filed with the Securities and Exchange Commission on Jan. 11 and afterward. JENNY Some of these recent transactions represent shareholders exercising stock options, or the ability to buy or sell shares at a specified price for a specified period of time. nCino employees, for example, might be able to purchase a certain number of shares at a low
CALLISON
The big picture impact is the company. It’s going to keep people hired and keep spitting out jobs and paying salaries.” ADAM JONES regional economist, UNCW
price and sell them at higher current market rates. This can put new money into the local economy for tangible purchases (a new car, a new house) or it can provide money for further business investments, from seed money for startups to venture capital for maturing companies. “I’m extremely excited about the positive economic impact nCino’s IPO will have on our community,” Wilmington Chamber of Commerce
President and CEO Natalie English said in an email. “Strong economic growth in any local economic sector generally leads to improved economic conditions across the board. As local industries like our fintech sector continue to report growing output, local businesses’ revenue should increase, which can spur wage and employment growth in other areas. “The specific growth in income related to this, and future, IPOs will be felt across our community through investments in real estate, entrepreneurial endeavors and our community’s nonprofit organizations working to create a better place to live, work and play.” Adam Jones, regional economist with the University of North Carolina Wilmington, notes the absence of much research on the effect of post-lockup activity on local economies. He theorizes that shareholders who gain liquidity might spread out their purchases over time, meaning the local market is “not going to have some big blip.” While some shareholders will use
earnings for lifestyle upgrades or even 401(k) or college fund investments, he said, “A lot will be capital that goes into the next venture, to grow more companies. Investors are simply getting their capital return and are going to [invest] again. And that is beneficial to the economy.” For entrepreneurs at nCino and elsewhere, Jones added, “The piece that’s exciting in life is building those companies, those teams. They are focused on a completely different game from the rest of us. They use [postIPO returns] to generate money for seed capital for their next project or to invest in companies of their employees. There will be [employee-generated ideas] that don’t quite fit in the scope of what nCino is going to do but for which the employee has talent – so a spinout.” In the economic development world, Jones said, people talk a great deal about industry clusters and how they get started. “Some start around universities where there are one or two specific faculty members who have ideas
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| BANKING & FINANCE | to commercialize, and others spin off around it. We are seeing that in Wilmington, not from the university, but driven by a small group of entrepreneurs. The cluster takes on a life of its own.” When we think about assets generated by an IPO, sometimes we miss the big picture, Jones pointed out. “The big picture impact is the company,” he said. “It’s going to keep people hired and keep spitting out jobs and paying salaries.” nCino, which boasts more than 1,200 customers and employs more than 900 people – the majority of whom work at its Wilmington headquarters – has shown rapid growth since it was spun off from Live Oak Bank in late 2011. In an indicator of its continuing growth, plans were filed in late January for construction of another 90,000-square-foot office building.
Live Oak talks loan generation, PPP activity In a conference call Jan. 28, Live Oak Bancshares officials elaborated on the company’s fourth-quarter and year-end financial reports. The company’s fiscal year ended Dec. 31.
Live Oak Bancshares, parent of Wilmington-based Live Oak Bank (Nasdaq: LOB), posted quarterly net income of nearly $29.6 million, which translates to earnings per share of $0.68. The Zacks Consensus Estimate for EPS was $0.52 per share. Net income for the quarter was below expectations, however, falling roughly $4.2 million below that of the third quarter of 2020. Net earnings for the company’s fiscal year totaled $59.5 million, or $1.43 per diluted share, up 32% from those of the previous fiscal year. “Our mission to be America’s small business bank has never been more important. The past year was incredibly challenging for our country’s entrepreneurs, and their drive and determination reinforce why we want to fundamentally shift the way banking is done,” Chairman and CEO James “Chip” Mahan said in a news release Jan. 27. “As our efforts to drive rapid change in financial technology gained momentum in 2020, our teams continued their relentless focus on supporting customers in a time unequaled in recent history. “In 2020, we grew assets by $3 billion by serving small businesses
across the U.S. and significantly increased net income,” his statement continued. “Our balance sheet and funding model position us very well to serve America’s small businesses in the coming year.” During the subsequent conference call, Mahan and other officials stressed the 76% year-over-year increase in loan and lease production, from $3.6 billion in 2019 to $6.3 billion at the end of 2020. Paycheck Protection Program lending contributed to this past year’s numbers. “The total loan and lease portfolio of $6.32 billion is comprised of $1.50 billion of Paycheck Protection Program (“PPP”) loans, net of deferred fees and costs, at December 31, 2020,” the company’s release stated. Excluding PPP loans, Live Oak originated about 1,000 loans, totaling $1.75 billion, during the second half of the year, Live Oak Bank President Huntley Garriott said during the conference call. Mahan is bullish about continued growth in loan and lease generation. “Over the last six quarters we’ve averaged origination of about $500 million. In the last two quarters, about $879 million. “[I am] very excited about year-over-year growth of
originations from $2 billion to $2.7 billion, that’s a 34% increase. All the time around this place we talk about 15%, whether it’s originations or EPS, a wonderful thing about 15% as it doubles every five years. So yeah, that’s right: $3 billion to $3.1 billion, that’s doable for 2021, and we’re excited about it.” A key aspect of the earnings call was a discussion of Live Oak Bank’s role in connecting small businesses with available federal COVID-19 relief, especially PPP financing. The bank also designated a team, headed by business development officer Kay Anderson, to help borrowers in six industries – dubbed the “Covid 6” by Mahan – that have been most affected by coronavirus restrictions. Anderson spoke of her largely successful efforts to improve the financial picture for borrowers in those six industries: entertainment centers, hotels, wine and craft beverages, educational services, fitness centers and quick-service restaurants. “We have been examining the characteristics of these borrowers, which make up 17% of our borrowers,” she said. “It’s noteworthy that their classified assets have pretty much stabilized.”
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| HEALTH CARE |
Post-sale, changes underway at NHRMC BY NEIL COTIAUX
W
ith a historic transfer of ownership Feb.1, New Hanover Regional Medical Center ended nearly 53 years as a county-owned hospital and became part of Winston-Salem-based Novant Health. Signs and banners on the NHRMC campus marked Day One of the union of the two hospital systems, but no large-scale event was held in keeping with pandemic-related restrictions. NHRMC names and logos will continue to be used until a final decision is made on branding, officials with NHRMC and Novant Health said. As with most acquisitions, some operational changes will occur over time, but it was mostly business as usual on the NHRMC campus on Monday for the Wilmington-based system’s 7,500 employees. “Today has to be the most exciting time in our history, and it’s not just me. You know this is exciting for our patients and our community because this really gives us the opportunity
to do so much more for our region,” said John Gizdic, who greeted hospital employees Monday morning sporting a Novant pullover. Gizdic, president and CEO of NHRMC, now absorbs the title of president of the Novant Health greater Eastern market, as Novant establishes a hub in this part of the state. Novant Health, a not-for-profit health system, operates a network of hospitals, physician clinics and outpatient facilities across North Carolina, South Carolina, Georgia and Virginia. It already operated Novant Health Brunswick Medical Center, which now falls under the structure of NHRMC. The nearly $2 billion purchase – as well as additional commitments for future capital investments and agreement with UNC’s expanding medical program at NHRMC – sets Novant up to significantly grow its presence in Southeastern North Carolina. “We will invest a lot in the community, but we want to make sure
we’re prioritizing, what physicians, team members, the local board and the local management team advises to start with,” Novant CEO Carl Armato said. Integration will take time, Gizdic said, adding “you want to do this very thoughtfully and make sure we do this appropriately.” While a number of details still need to be worked out, there also are many decisions already made. NHRMC’s agreement to manage Pender Memorial Hospital, for example, has been extended an additional two years over the current term. “We are expanding our pediatric specialties,” Gizdic also said, “and we’ll be getting those in place over the coming months, as well as new clinical research opportunities that are launching in the very near future. A lot of exciting things that are starting, but a lot more to come.” One group of hospital patients did, however, experience immediate change.
CHARITY CARE
As of Feb. 1, Novant’s purchase of NHRMC widened the scope of charity care available to individuals facing financial difficulties, raising the qualification level for such care from 200% of the federal poverty level to 300% as Novant’s more liberal policy took hold. The federal government’s 2021 poverty level is set at $26,500 for a family of four. Novant’s 300% ceiling for charity care means that families of four with an income of up to $79,500 and no health insurance are eligible for the program’s 100% writeoff, as long as they meet requirements that include a lack of substantial cash-on-hand and receiving only medically-necessary services. According to July 2019 U.S. Census Bureau estimates, 11.7% of New Hanover County residents under the age of 65 had no health insurance.
JOBS AND BENEFITS
The agreement to buy NHRMC enshrined Novant’s pledge to retain all of the Wilmington system’s
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| HEALTH CARE | employees at the time of closing for a minimum of two years “at their then-current salaries, job title, reporting structure and responsibilities.” “The Asset Purchase Agreement provides stability for NHRMC employees by maintaining current position and salary for at least two years,” NHRMC spokesman Julian March said. “These offers have already been extended.” NHRMC’s hourly workers will continue to receive a $12.50 wage but will transition to Novant Health’s $15 per-hour minimum within the first 100 days of closing. As for benefits, some will remain while others will change over time. “Novant Health is assuming many of the employee benefits plans currently provided by NHRMC, including the medical, dental and vision plans and the 403(b) Retirement Savings Plan,” a Novant Health spokesperson said. “The main exception will be that Novant Health will not be assuming the NHRMC pension plan, since that plan can only be maintained by a governmental entity.” The Wilmington system’s pension
plan and 457(b) tax-advantaged savings plan in which eligible NHRMC employees participated are no longer available to associates as of closing, March said. But Novant Health will implement a new non-governmental 457(b) plan for eligible team members. “All earned pension funds are secure and will be available to staff and retirees through their retirements,” March said, with a $200 million employee resiliency fund built into the sales agreement and most of that fund going toward pensions. NHRMC team members will transition to Novant’s health and wellness plans next Jan. 1 or later, March said.
NEW HANOVER COMMUNITY ENDOWMENT
While N.C. Attorney General Josh Stein did not object to the hospital sale, he negotiated conditions that largely affected New Hanover Community Endowment, the independent philanthropic foundation created with an infusion of $1.25 billion of sale proceeds. Strengthened community representation is being put in place across
the endowment’s organizational structure, a topic that was discussed by the foundation’s board on Jan. 28. Stein called on the board to create two additional seats to be filled with individuals conversant in public health, underserved populations or racial equity and justice; to increase from two to four the number of annual public disclosures on grants and other distributions; to hold at least two listening sessions for public input on how the endowment should distribute funds; and to form a community advisory committee. Selecting the new board members is the foundation’s first priority, said Spence Broadhurst, the board’s chair. “We are committed to a relatively quick turnaround because we want to get these two board members on board and fully engaged very quickly as we continue to reach out to the public,” he said. Broadhurst said the foundation will accept both third-party nominations and self-nominations but that all nominees must be residents of New Hanover County and have expertise in one of the three categories mentioned by Stein.
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Prior to the hospital sale’s Feb. 1 closing, the board established three committees: an investment committee chaired by Bill Cameron to help determine the financial adviser who should manage the $1.25 billion from which earnings will be drawn and grants will be made; a personnel and search committee chaired by Stedman Stevens to recommend a recruiting firm and find the endowment’s CEO; and a governance committee chaired by Hannah Gage that will help shape the group’s organizational structure. Cameron is co-founder of Cameron Management, Stevens is CEO of VU Systems and Gage is a past UNC Board of Governors chair. Additional commitments made by Novant Health as part of the hospital deal include more than $3 billion for strategic master plan projects and routine capital expenses, $300 million for a county revenue stabilization fund and $50 million for a Mental and Behavioral Health and Substance Use Disorder Treatment Fund. Editor Vicky Janowski contributed to this article.
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| ECONOMIC DEVELOPMENT |
Leland looks to the future Officials are developing the Leland 2045 plan, the largest long-range planning project ever tackled by the town, organizers said. The most recent effort was the Leland Master Plan update, which only had a planning horizon of five years, said Ben Andrea, Leland’s planning and inspections director. From an economic development perspective, he said, the plans are important in helping to develop overall business, industry and jobs as well as support services for current and future residents. Based on projections, Leland is estimated to reach a population of about 75,000 by 2045, Andrea said, adding, “and so we’re using that as a benchmark as we’re planning our housing needs and how we’re going to grow from a residential perspective.” The town has partnered with Design Workshop, a Colorado-based consulting firm, to create the Leland 2045 plan, a project that will map out the town’s growth, development and redevelopment. A variety of elements are being incorporated, from looking at the town’s future housing and transportation needs to enhancing the town’s historic preservation. “Housing is an important topic,” Andrea said. “Affordable housing and workforce housing are buzz words that we hear quite often. So, we want to take CHRISTINA HALEY a look at what our housing trends have been and … also the change in demographics with the aging population and also younger families. We’re trying to provide housing options that can accommodate people with a wide range of needs but also people in different periods of their life and different family structures.” The plan might also incorporate some recommendations on how Leland can be creative about economic development. “Looking back at the Innovation Zoning District that we created last year, that’s an idea of how we can encourage economic development and economic growth through landuse regulation and do it in a way that balances the need for places for busi-
O’NEAL
IMAGE C/O TOWN OF LELAND
Mapping the future: A town of Leland map shows the area involved in the Leland 2045 plan.
nesses and industry to grow while not impairing the quality of life of adjacent neighborhoods or existing residents,” Andrea said. Although there are not yet any specifics on business and industrial growth or other land-use options that are part of the plan at this time, Andrea said the town wants to look for strategies to grow as a regional hub for business. Town officials aim to have council consider adopting the finished plan by the end of the year. Overall, a lot of work has already been done by the town in looking at the different aspects of the plan, but public input is also being sought, Andrea said. Details about the project can be found on the website Leland2045. com. The town is providing multiple avenues for community involvement, including online surveys and virtual input sessions. A survey conducted in January at the town’s first virtual public workshop, which had about 70 participants, showed that economic development and the challenges that come with it were important areas of focus. “Economic development and job growth and how a community develops go hand-in-hand. The focus of a land-use plan is really to set the vision for how communities should develop. And when employers
and industry folks are looking at places to relocate or to build their business, they want to look at the quality of life for their employees,” Andrea said. “And so, in the creation of a plan like this, we are trying to create great communities and great places for people to live and have families and just have a high quality of life,” he said. “So that in itself can result in attracting businesses and industry to locate to the area to take advantage of that quality of life and the communities that we anticipate this plan will envision.”
Study shows ILM’s preCOVID economic impact The Wilmington International Airport’s economic contribution to the state had risen above previous figures, before the COVID-19 downturn in overall travel, according to a state report. That report, which is based on 2019 data, showed ILM had a $2.3 billion economic output, supported 16,385 jobs and generated $572.7 million in personal income and nearly $85 million in state and local taxes. The figures mark a rise from a previous report, which showed ILM having an economic impact of $1.8 billion, supporting 13,000 jobs and
generating $455.7 million in income and $66.8 million in tax revenues. The state report shows North Carolina’s 10 commercial service and 62 general aviation airports overall contribute more than $61 billion in economic output, 373,000 jobs, $15 billion in personal income and $2.5 billion in state and local tax revenues, based on the 2019 data. For ILM, airport officials attributed the growth in jobs and economic impact to the more than 1 million passengers who flew in and out of the airport in 2019; its three major commercial airlines bringing in new hubs/destinations; new aviation business partners; and the ongoing $61 million terminal expansion and renovation project. This latest statewide report “demonstrates that investments in airport infrastructure and new capacity across the state and at ILM bring a strong return on the investment,” said Gary Broughton, ILM’s deputy airport director. The report, released by the N.C. Department of Transportation’s Division of Aviation and conducted by N.C. State University’s Institute for Transportation Research and Education, reviewed 2019 data and does not account for the 2020 impacts of the COVID-19 pandemic. “This report ... does not factor in the impact of the coronavirus. Therefore, the impact of 2020 will be seen,” Broughton said. “But I certainly expect the terminal expansion and added business will have a positive impact on the airport and community in the future.” Like many airports across the nation, the impact of the coronavirus on ILM’s travelers in 2020 was unprecedented, officials said. End-of-the-year statistics showed that passenger traffic was down 56% from the previous year. There were about 477,300 ILM travelers last year, compared to the more than 1 million in 2019. At its lowest point in April, the airport had a 96% drop in its travelers, compared to April 2019. The hit of COVID-19 was “more pronounced than 9/11 and previous recessions,” airport director Julie Wilsey said. “ILM is tracking and watching peer airports and experts,” she said. “We start preparing the FY22 budget in February and will make adjustments for the next operating budget based on how things look in February.”
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| THE LIST |
SBA Lenders
Ranked by local loan amount LENDER ADDRESS
RANK
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Live Oak Bank 1741 Tiburon Drive Wilmington, NC 28403 Self-Help Ventures Fund 301 W. Main St. Durham, NC 27701 TD Bank 1701 Route 70 East Cherry Hill, NJ 08034 Business Expansion Funding Corp. 5970 Fairview Road, Suite 218 Charlotte, NC 28210 First Bank 205 SE Broad St. Southern Pines, NC 28387 First National Bank 166 Main St. Greenville, PA 16125 Readycap Lending 420 Mountain Ave. New Providence, NJ 07974 504 Capital Corp. 501 Independence Parkway #330 Chesapeake, VA 23320 First Citizens Bank & Trust 239 Fayetteville St. Raleigh, NC 27601 Dogwood State Bank 5401 Six Forks Road Raleigh, NC 27609 World Trade Finance Inc. 811 W. Seventh St. Los Angeles, CA 90017 Carolina Business Capital 1307 W. Morehead St. Charlotte, NC 28208 Truist Bank 214 N. Tryon St. Charlotte, NC 28202 Aquesta Bank 19510 Jetton Road Cornelius, NC 28031
TOTAL LOAN AMOUNT
NO. OF LOCAL LOANS
$4 million
7
$3.7 million
4
$2.9 million
3
$2.7 million
3
$2.4 million
4
$2.2 million
3
$1.8 million
4
$1.7 million
1
$1.7 million
3
$1.6 million
4
$1.4 million
1
$1.3 million
1
$1.2 million
5
$984,525
2
List information is obtained from the Small Business Administration for fiscal year October 2019-September 2020.
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From PPP, page 1
worth more than $557.8 billion, in both rounds since last year when the COVID-19 pandemic began impacting the economy. Raleigh-based Dogwood State Bank, which has a Wilmington branch, has processed about 11% of the loans in the state, said Mark Johnson, Dogwood’s Wilmington market executive. Companywide, as of Feb. 1, Dogwood has processed half of its roughly 500 loan applications in the second round, resulting in about $52 million in approved loans, Johnson said. That funding “equates to capital in the hands of our local businesses so they can get through this trying pandemic and continue to prosper,” he said. Things are going much more smoothly for both lenders and borrowers this time around, Johnson said. Queensboro worked with Dogwood for its PPP loans, and while the process was a little cumbersome in its first draw, Meyers said he didn’t run into the same issues in the company’s second draw. Johnson said Queensboro was the first approved for the 2021 PPP loan process at Dogwood State. “Dogwood learned a lot from the first round, and they were just so ready for this. And I feel like we were first in line,” Meyers said. “We applied, we were funded and it was an incredibly smooth process with them.” “The SBA has changed its process a little bit … it’s become much more efficient,” Johnson said. Many smaller businesses were left behind in the first round, said Jerry Coleman, director of Cape Fear Community College’s Small Business Center. “We had a handful of SBC clients, not many, who managed to secure a PPP loan during the first round of funding. There was a great deal of confusion with the first rollout with a limited number of lenders participating, poor application guidance and the majority of funding going to larger wealthy organizations or large chains. As a result, the funds were quickly allocated within a few weeks, thus making it nearly impossible for our small businesses (sole proprietors, mom-and-pop organizations) to get needed assistance.” He said the SBC has had more clients receive assistance over the course of the program as more funding, more lenders and improved program guidance has become available. Officials with Wilmington-based
Live Oak Bank, another lender assisting small businesses in the application and loan process in the nation, also noted that things have been going smooth in the second round. The bank played a role in helping the federal government develop the program in 2020. In the first round, the company processed more than 11,000 loans across the U.S. – with more than 740 loans in Wilmington – dispersing more than $1.75 billion. Live Oak Bank is currently processing about 3,000 so far in the second round, according to the company. “We saw an initial influx of interest when the program reopened, and that has tapered off, as it seems borrowers are not in the same rush to get PPP funding as they were in the first round,” said Claire Parker, spokeswoman for Live Oak Bank, adding that the bank is preparing for a potential uptick. “Overall, we believe this is a strong program for small business owners who need capital to keep their workforce on the payroll, and we are dedicated to helping them get the funding they need,” she said. The SBA is accepting applications for first- and second-draw loans until March 31. Generally, a borrower is eligible for another draw if he or she received a loan in the first round and used the full amount; has no more than 300 employees; and can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020, according to the SBA. At least $15 billion is set aside for first draw, and $25 billion for the second draw, for businesses with a maximum of 10 employees, or for loans of $250,000 or less to businesses in low- or moderate-income neighborhoods. The SBA is also offering loan forgiveness for businesses that meet certain criteria. Businesses can use the funds for a range of costs, including payroll and benefits, mortgage interest, rent and utilities. “These are certainly challenging times, and the PPP is a valuable tool small business owners can take advantage of,” Parker said. Some businesses, however, may not qualify, Parker said, adding that’s why Live Oak teams are providing customers with guidance and other options that are available. Another local business, Intracoastal Realty, also applied for and received a PPP loan in the first round. But the firm has decided not to go after a second loan, said Trey Wallace, president of the real estate
firm. “There was a large amount of uncertainly at the beginning of the pandemic about the economy. We saw a 65% decrease marketwide in showing activity in the first four weeks of the shutdown, and that is a frightening thing to see in the real estate business,” Wallace said. “Showing activity correlates directly with future contracts and closings (revenue).” Intracoastal, which was in a loan range of $350,000 to $1 million, wasn’t the only real estate firm to receive funds in the first round. Other real estate firms, both residential and commercial, in the Wilmington area also received approval for loans. Intracoastal Realty used its loan to pay staff and keep everyone employed during the crisis, Wallace said. “I am proud to say that we did not lay off any of our staff even though many other real estate firms around the country were doing so. I know of a firm larger than ours in the Triad area that laid off a third of its workforce,” Wallace said. “We won’t be applying for a second round,” he added. “I think that money is better used for businesses that are still under tight restrictions like restaurants, bars, gyms, etc.” At the start of the shutdown in March, Queensboro had to let go of 90% of its staff, while keeping a small portion of the business going, Meyers said. That staff was recovered over the course of 2020. Although Meyers declined to disclose the amount his company received in the first or second draws, he said Queensboro is using the funds to pay employees. In the first draw, SBA records show, Queensboro received a loan in the $350,000 to $1 million range. “The first round was a huge help. There was so much uncertainty going on. It was an emotional lifeline as much as a financial lifeline. Our business had been really impacted by the shutdowns after March, and I didn’t know what all it was going to look like,” Meyers said. “We have definitely seen some softening in the business … we’re hoping things will pick up again. But it’s just so unpredictable, what’s going to happen,” he added. “As an entrepreneur, you’re kind of optimistic by nature. I am optimistic by nature, so I’m hopeful it’s going to be a great year. But I can’t make any commitments investment-wise at this point until we get a better sense of where it’s really going to go.”
Greater Wilmington Business Journal
wilmingtonbiz.com
February 5 - 18, 2021
Page 11
| IN PROFILE | Realtor a leader for clients, colleagues BY LYNDA VAN KUREN om Gale always had an entrepreneurial streak, but it wasn’t until he tried his hand at real estate that he found the perfect outlet for it.
T
Today, Gale is one of the area’s top Realtors, and he is the 2021-22 president of Cape Fear Realtors. For Gale, his professional and volunteer roles work hand in hand. “Realtors sit in the middle between homeowners, business and the environment,” Gale said. “While Realtors know the area needs sustainable growth, they also try to strike the right balance for quality of life.” Gale’s ties to North Carolina, and Wilmington, run deep. His family moved to the state when Gale was in fifth grade, and he moved to Wilmington in 1994 to earn a degree in communications at the University of North Carolina Wilmington. While at UNCW, Gale fell in love with the area and decided not to leave after graduation. The problem was finding the right job. It was only after Gale worked in retail, then ran a FedEx route (which gave him an intimate knowledge of the area’s neighborhoods) that he followed his father’s urging and joined him in his real estate business. In Team Gale, which his father named and led, Gale found his niche. Real estate satisfied his entrepreneurial drive and allowed him to help others. “I am someone who truly believes in how life changing homeownership is,” Gale said. “Where people live and raise their family is extremely important. That’s what drives me.” Gale enjoyed working in a hot real estate market for all of two years. Then, at the end of 2007, the recession hit. “It was a tough few years for my business as well as for me emotionally,” said Gale. “I felt like I was a doctor and all my patients were dying. I really wanted to help people and create buyers where there were none.” However, the principles and practices Gale established for his new business sustained it during the hard years and contributed to its growth when the economy recovered in 2011. Gale said he believes that homeownership plays a critical role in building personal economic security. “Homeownership is a forced savings account,” Gale said.
PHOTO BY MICHAEL CLINE SPENCER
House hunter: Tom Gale, a Realtor who leads Team Gale of Coldwell Banker Sea Coast Advantage, is president of Cape Fear Realtors and active in the community.
Gale aims to stay dedicated to his clients in multiple ways. First is Gale’s investment in his professional growth – he is a graduate of the Realtor Institute and a certified residential specialist and holds several additional certifications. As his business expanded, he also added Realtors to his team to serve those in markets he was unfamiliar with, and he grew partnerships with developers and banks. Last, and most importantly, Gale prepares extensively to ensure the homes he shows clients meet their particular needs. “I have a long-term vision for my clients,” Gale said. “I don’t want to help them with one transaction. I want to help them for life, to be their Realtor for 10-20 years.” Anne Gardner, chief executive officer of CFR, experienced Gale’s commitment first-hand when she moved to the area. “Tom was incredibly thorough and prepared,” she said. “He wants the best outcome for everyone, no matter what he is focused on.” In 2015, Gale took over the leadership of Team Gale. Team Gale, which is affiliated with Coldwell Banker Sea
Coast Advantage, now serves about 200 buyers and sellers each year and works with all levels of the real estate market, from renters to those seeking high-end luxury homes. Its territory extends from beyond Jacksonville to the South Carolina border. Today, the Wilmington area is experiencing another real estate boom, driven by retirees looking for lower taxes and a better quality of life and professionals who, because of the pandemic, can work remotely. Although he had already implemented a number of technological tools into his business, such as video conferencing and electronic signatures, Gale’s clients can now perform the entire real estate process virtually. Some have purchased a home after viewing it online, conducted the walk through via video, and put it under contract and closed remotely. “We have plenty of people in the military who are only in town for a weekend,” said Gale. “These technological tools allow them to not feel stressed or rushed. A lot of these tools will continue to be used by buyer and sellers.” Gale’s business has grown steadily
over the years. In 2020, Team Gale saw its best year ever, with $45 million in sales. While Gale was building his business, he also became a community leader. He serves on the City of Wilmington and New Hanover County Workforce Housing Advisory Committee and the NC Homeowners Alliance. Gale also an active member of both the North Carolina Realtors and CFR. As CFR’s president, Gale hopes to promote his passion: encouraging affordable housing in the area. “We are very much a service-oriented economy, and wages have been low and stagnant,” Gale said. “Housing prices increase 10% a year, which makes them out of reach for a lot of people who want to call Wilmington home. We need to provide a diverse housing supply, which becomes difficult as builders try to recoup the money they spent on land by building bigger homes.” Gale added, “The problem is complex and will require commitment from everyone, including business leaders who employ service workers, to solve.”
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February 5 - 18, 2021
Greater Wilmington Business Journal
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| REAL ESTATE | Pending projects: Where do they stand? BY CECE NUNN hile some major development projects in the works in the Wilmington area are progressing, others are on hold for a variety of reasons.
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NORTHERN GATEWAY
The Northern Gateway project planned for downtown Wilmington is an example of a development that has stalled. Early on in the pandemic, in April last year, city officials said the $90 million public-private partnership would have to wait as they responded to the health and financial health crises brought about by COVID-19. Chapel Hill-based East West Partners has proposed building residential units, retail space, a hotel, a visitors center and parking on several city-owned properties at 1020, 908 and 922 N. Front St. and 901 N. Third St. East West had already partnered with the city on the 13-story mixed-use development River Place.
RENDERING C/O THE CARROLL COMPANIES
Phase change: Plans for The Avenue, a more than $200 million project to be built on Military Cutoff Road, are being tweaked.
CENTERPOINT
In 2017, Swain & Associates developers announced plans for CenterPoint, a major mixed-use develop-
with a parking deck, restaurants and stores on about 23 acres. At the time, CenterPoint was estimated to be a $250 million project. That estimate is likely to increase because of a rise in construction costs and materials in the past few years. Wilmington-based Swain & Associates added 20 rooms to the hotel at CenterPoint for a total of 220, and 70 units, for a total of 370, to an apartment complex planned for the development. CenterPoint’s construction is also waiting for the N.C. Department of Transportation to start projects for Military Cutoff and Eastwood roads. Meanwhile, the NCDOT is facing its own delays and funding issues.
THE AVENUE
ment on Eastwood and Military Cutoff roads in Wilmington that would include a hotel, an office building with a parking deck, apartments
Plans for The Avenue, a more than $200 million development to be built on Military Cutoff Road in Wilmington, are proceeding but could include some changes, particularly to what gets built first, as a result of
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February 5 - 18, 2021
Page 13
| REAL ESTATE | COVID-19. Roy Carroll, owner of The Avenue development firm The Carroll Companies, said in a recent interview that construction on the development’s anchor, a Westin hotel, will likely be delayed as a result of a pandemic-related slowdown in the hospitality industry. “We continue to be concerned about starting a $90 million hotel with the hotel industry like it is right now,” Carroll said. The Westin, with more than 230 rooms, will still be built, along with a spa and conference center, but construction would likely start in a later phase of the multi-phased project, he said. Site plans for The Avenue submitted in 2019 showed 10 buildings, along with three parking decks. The buildings would include more than 115,000 square feet of retail space and more than 500 apartments. Instead of starting with the hotel, he said, crews could begin by working on residential space in buildings that would be located in the back of the 44-acre site. But another potential change for the project is the amount of retail space allocated, planned for the first
floor of some mixed-use buildings, with apartments on the top floors. “We’ve got a good amount of retail planned for the project. And retail right now is also suffering. So we’re taking an in-depth view of the retail and what is needed in that market right now,” Carroll said. That’s an example of the questions The Carroll Companies, a Greensboro-based firm, is considering, but there won’t likely be wholesale changes to The Avenue’s plans, Carroll said. “We’re anxious to get started,” he said. “It’s just COVID has changed the world a little bit, and we’re trying to make sure that our plans and what we’re trying to do make sense in a post-COVID world.”
PROJECT GRACE
As of press time, Zimmer Development was still working on the details of a potential agreement on the downtown Wilmington redevelopment project dubbed Project Grace. The public-private partnership would transform the New Hanover County-owned block bordered by Grace, Third, Chestnut and Second streets, which currently holds the main branch of the county public
library, a 650-space parking deck, surface parking lots and a former Register of Deeds building. The redevelopment could include a new library, a new space for the Cape Fear Museum, city of Wilmington offices and apartments, according to New Hanover County Board of Commissioners agenda documents, which priced the project at $107 million. But the Project Grace item was removed from the county agenda for Feb. 1 at the request of Wilmington-based Zimmer Development so the firm could continue revisions to the memorandum of understanding (MOU), said Jessica Loeper, chief communications officer for the county, in January. The Zimmer MOU is expected to be treated as a proposed general development agreement by the board of commissioners.
GOVERNMENT CENTER REDEVELOPMENT
The New Hanover County Board of Commissioners recently approved a revised development agreement for a project that will transform the site of the county’s government center. The board also approved a $53.5 million capital project ordinance to
finance the county’s portion of the development. The project is expected to hold a new facility for county offices, including an expanded Emergency Operations and 911 Center, and commercial and residential space, with at least 5% of the residential units being dedicated to workforce housing. The revised agreement changed the deal from a lease to a 20-year public debt for the county because interest rates for county borrowings are lower, producing a cost savings that changes the estimate for the new government center construction from $49 million to about $46 million. The county will retain ownership of the land where the new government center is built and then sell the other half, 7.5 acres of 15, to the developer, Cape Fear FD Stonewater LLC, for the construction of a mixed-use residential and commercial development. The private portion of the development has an estimated project value of $70 million. Cape Fear FD Stonewater will manage the construction of the public and private facilities.
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Greater Wilmington Business Journal
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| THE LIST |
SBA 7(A) and 504 Loans
Ranked by loan amount (*504 loans) RANK
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44
BORROWER NAME
ADDRESS
LOAN AMOUNT
LENDER NAME
COUNTY
Primrose Of Wilmington
1401 S. 16th St., Wilmington
$3,710,700
TD Bank, National Association
New Hanover
Le Dome Holding LLC
901 Front St., Wilmington
$2,738,000
First National Bank of Pennsylvania
New Hanover
A Country Kennel Inc.
6737 Amsterdam Way, Wilmington
$2,440,000
Live Oak Banking Company
New Hanover
CMB Leland Storage LLC*
1218 West Gate Drive, Leland
$2,390,000
Self-Help Ventures Fund
Brunswick
Harboritaville Show Corp.
10 Marina Wynd, Bald Head Island
$1,900,000
First-Citizens Bank & Trust Company
Brunswick
Clamdigger Equity LLC
1333 S. Dickinson Drive
$1,728,000
504 Capital Corp.
Brunswick
Pizzettas Inc.
4107 Oleander Drive, Wilmington
$1,589,000
First Bank
New Hanover
Tima Capital Inc.
340 Shipyard Blvd., Wilmington
$1,500,000
World Trade Finance Inc.
New Hanover
Pawville Inc.*
3530 Carolina Beach Road, Wilmington
$1,269,000
Business Expansion Funding Corporation
New Hanover
Marathon FBO Partners LLC*
1740 Airport Blvd., Wilmington
$1,268,000
Carolina Business Capital
New Hanover
Carolina Retreats Vacations
500 Ocean Drive, Oak Island
$1,234,300
Dogwood State Bank
Brunswick
CSM Coastal LLC
5746 Oleander Drive, Wilmington
$1,150,000
First Internet Bank of Indiana
New Hanover
Live Oak Dental
2520 Delaney Ave., Wilmington
$1,125,000
Live Oak Banking Company
New Hanover
Upper Level Properties LLC*
5815 Oleander Drive, Suite 1, Wilmington
$1,114,000
Business Expansion Funding Corporation
New Hanover
Wrigglesworth Enterprises Inc.
3516 S. College Road, Wilmington
$1,000,000
Live Oak Banking Company
New Hanover
Buffmasters Carwash LLC
1202 S. College Road #5115, Wilmington
$864,900
Dogwood State Bank
New Hanover
Fenina LLC
2929 Market St., Wilmington
$847,000
Open Bank
New Hanover
Coastal Pharmacy and Compounding
2231 S. College Road, Wilmington
$810,000
Southern Bank and Trust Company
New Hanover
Speaks Law Firm PC
902 Market St., Wilmington
$780,000
Readycap Lending LLC
New Hanover
4252 Inc.
219 Roymar Drive, Wilmington
$761,000
Aquesta Bank
New Hanover
Parlier Plumbing and Services
1534 N. Kerr Ave., Wilmington
$674,700
First Bank
New Hanover
HMP Enterprises Inc.
4300 Deer Creek Land, Wilmington
$627,500
F & M Bank and Trust Company
New Hanover
Axis Fitness Centers
202 N. Water St., Wilmington
$625,000
Live Oak Banking Company
New Hanover
OCP LLC
1409 E. Beach Drive, Oak Island
$610,000
Readycap Lending LLC
Brunswick
Nam Jai LLC
347 Hutchison Lane, Wilmington
$604,000
Truist Bank Branch Banking & Trust Co
New Hanover
Axis Prosthetics and Orthotics
1211 44th St., Wilmington
$551,700
Aquesta Bank
New Hanover
Kids World Academy Inc.*
5201 Southport-Supply Road SE, Southport
$538,000
Self-Help Ventures Fund
Brunswick
Triple D Inc.
3330 Old Ferry Road SW, Supply
$535,000
Readycap Lending LLC
Brunswick
Gibvater Sound LLC
820 Town Center Drive, Suite 130, Wilmington
$510,000
United Community Bank
New Hanover
Kyoto Asian Grille Inc.
4102 Market St., Wilmington
$495,000
First Bank
New Hanover
LASS Properties LLC*
210 Crowatan Road, Castle Hayne
$427,000
Self-Help Ventures Fund
New Hanover
Pelicans Perch Bar & Grill
8 E. Second St., Ocean Isle Beach
$385,000
First Bank
Brunswick
Aunt Irene's SweetsNTreats
3331-3337 Holden Beach Road, Shallote
$350,000
Truist Bank Branch Banking & Trust Co
Brunswick
Brooklyn Real Estate Holdings
105 N. Sixth St., Wilmington
$350,000
The Bancorp Bank
New Hanover
Robert + Tammy Williams*
9 Pavilion Ave., Carolina Beach
$349,000
Self-Help Ventures Fund
New Hanover
Two Brothers Real Estate
4324 E. Beach Drive, Oak Island
$349,000
Truist Bank Branch Banking & Trust Co
Brunswick
Piacenza LLC
2 Market St., Wilmington
$335,000
IncredibleBank
New Hanover
BCG HVAC LLC
3303 Merchant Court, Wilmington
$330,000
Live Oak Banking Company
New Hanover
Live Oak Media Inc.
137 NE 10th St., Oak Island
$330,000
Readycap Lending LLC
Brunswick
Eleven 56 LLC*
6309 Market St., Wilmington
$312,000
Business Expansion Funding Corporation
New Hanover
Redbird LLC
8262 Market St., Wilmington
$300,000
United Bank
New Hanover
Salty Holdings LLC
12124 NC-50, Hampstead
$284,000
Select Bank & Trust Company
Pender
Blue Sky Business Ventures Ltd.
109 Wright St., Burgaw
$270,000
IncredibleBank
Pender
Southport Cheese Shoppe Inc.
417-B N. Howe St., Southport
$246,000
Truist Bank Branch Banking & Trust Co
Brunswick
*Indicates a 504 loan. List information is obtained from the Small Business Administration for fiscal year October 2019-September 2020.
Want to be considered for The List? Request an industry survey by emailing lists@wilmingtonbiz.com. The Business Journal will feature the following lists in upcoming publications: Interior Design Firms • Marinas • Golf Courses
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| ACHIEVERS | Send information about company hires, promotions or awards to editor@wilmingtonbiz.com
Wilmington attorneys establish practice Local attorneys DEVLIN HORTON and NICK MENDEZ have formed Horton & Mendez PLLC, a Wilmington practice focused on personal injury Horton and wrongful death. Horton and Mendez opened last month in Wilmington’s Soda Pop District at 705 Princess St. Mendez earned Mendez his law degree from the University of Richmond School of Law. Horton earned his law degree from the University of North Carolina School of Law.
Cranfill Sumner LLP names UNCW graduate partner Cranfill Sumner LLP has named REBECCA KNUDSON a partner in the firm. Knudson is based in the Wilmington office of Cranfill Sumner. She earned her Knudson Certified Litigation Management Professional designation from the Litigation Management Institute. She is a graduate of the University of North Carolina Wilmington and Northeastern University School of Law.
Minor named Dosher’s chief of medical staff ANDRE MINOR has been elected Dosher Memorial Hospital’s Chief of Medical Staff for 2021-22. Minor is an internal medicine physician with the hospital’s primary care practice, Dosher Medical North Howe Street in Southport. Minor was chosen by physicians and other medical providers at the hospital, officials said. He has practiced medicine in Southport for over Minor 30 years.
Others elected to Dosher’s Medical Executive Committee were JESSICA BOCOOK, vice chief of staff; JOSEPH HATEM, chair of the hospital’s Department of Medicine; and ROBERT ZUKOSKI, chair of the hospital’s Department of Surgery.
TJT hires Ashburn as partner in local office Thomas, Judy & Tucker PA has hired MAGGIE ASHBURN as a partner to lead the Wilmington office. The Wilmington location at 4010 Oleander Drive is the fourth for the accounting firm, which also has offices in Raleigh, Durham and EmerAshburn ald Isle. Ashburn has 17 years of public accounting experience, serving clients based in Wilmington and throughout the country. She provides tax planning and tax compliance services, with industry focuses on residential and commercial construction, real estate development and manufacturing.
CAM names new board members, officers Cameron Art Museum recently added three new board members and announced new officers for the year. CHARLES BONEY, LINDSAY GREGG and ACQUENETTA WHEELBoney ER joined the museum’s board. Officials also announced the board’s new officers for the year: ELIZABETH WELLS (chair), GREGORY MILLER (vice chair), CHARLOTTE COHEN (treasurer), LISA PONS LLOYD (secretary), WILLIAM “BILL” MALLOY (past vice chair) and JOHN MESSICK (member at-large). Boney is principal and chief relationships officer of LS3P Associates Ltd. He started working for the architectural firm in 1978. Gregg is the owner and principal designer of LSG Interiors based in Wilmington. She spent the first nine years of her career working in set decorating and art departments in the film industry. And Wheeler is a regional medical director for Optum. She has also served as a regional medical director for United Healthcare of the Carolinas.
February 5 - 18, 2021
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February 5 - 18, 2021
Greater Wilmington Business Journal
wilmingtonbiz.com
| BIZ LEADS | Reader’s Guide BizLeads is a collection of information gathered from greater Wilmington courthouses, state government offices and informational websites. These listings are intended to help the business community find new customers and stay on top of happenings with current customers, vendors and competitors. New Corporations lists firms that were recently incorporated in the state of North Carolina. All information is gathered from the North Carolina Secretary of State website. Addresses listed may not be the actual address of the business.
NEW CORPS Jan. 13-27
179 LLC 5700 Oleander Dr Wilmington 28403 Agent: Rick E Graves 210 TIMBER INVESTMENT VENTURES LLC 3414 Wrightsville Avenue Wilmington 28403 Agent: Robbie B Parker 360 INCLUSIVE MEDIA LLC 1036 Arboretum Drive Wilmington 28405 Agent: Louis Rose 4814 ORIOLE DRIVE LLC 1509 Country Club Rd Wilmington 28403 Agent: George Edward Holt IV
LLC 1515 Dorsey Ln NE Navassa 28451 Agent: Duenis Alexis Avila-Zapata ACCIDENTALLY OURS LLC 1424 N. Howe St. Southport 28461 Agent: Ryan W. Johnson ACE LAWN CARE L.L.C. 6613 Sago Palm Dr. Wilmington 28412 Agent: Terry Michael Garcia ACR PROPERTIES LLC 2610 Soft Sky Lane Wilmington 28409 Agent: Brian Hayes AGA TRANSPORT LLP 1182 Amber Pines Dr Leland 28451 Agent: Ginger Hill
609 PINER ROAD LLC 519 Market Street Wilmington 28401 Agent: James L. Seay III
ALDRIDGE INITIATIVES LLC 1919 Braxton Ct Apt 305 Wilmington 28412 Agent: Christian Aldridge
78 WEST HOLDINGS LLC 1516 Castle St Wilmington 28401 Agent: Joshah McKinney
ALECBINKS LLC 7227 Trinity Bay Ct Wilmington 28409 Agent: Alec Matos
ABATE ENTERPRISES LLC 126 south colony circle Wilmington 28409 Agent: Elena Rose Abate ABDU CONSTRUCTION
ALEX HERNANDEZ PAINTING LLC 3115 Wrightsville Avenue Suite F Wilmington 2803 Agent: Roman Martinez
ALISSA COLE HOME SOLUTIONS LLC 772 Heartwood Dr Winnabow 28479 Agent: Alissa Lee Cole ALL IN TRUCKING II LLC 522 S Kerr Ave Apt 81 Wilmington 28403 Agent: DeAundre Newkirk ALL PURPOSE CLEANING SERVICES LLC 129 Sandy Creek Dr Leland 28451 Agent: Michael Graham ALTHEA-B EXCURSIONS LLC 1816 Newkirk Rd Wilmington 28409 Agent: Franklin Drew Brown ALWAYS GREEN LANDSCAPING & MAINTENANCE LLC 3005 Newkirk Ave Wilmington 28412 Agent: Mitsy K Santiago AMERICAN COASTAL DEVELOPMENT LLC 622 S 2nd St Apt 4 Wilmington 28401 Agent: Jimmy Hopkins AMMA CONSTRUCTION LLC 4910 Bridger Rd Unit 15 Shallotte 28470 Agent: Laura Baez ANCHORED BUILDING LLC 127 Driftwood Court Wrightsville Beach 28480 Agent: Matthew Sawyer APPLIED LANDSCAPE TECHNOLOGIES INC. 6353 Blenheim Place Ocean Isle Beach 28469 Agent: Paul Martino ARCADIA DEVELOPMENT LLC 135 Stones Throw Ct Rocky Point 28457 Agent: Robin Saffo ARTICA LLC 575 Military Cutoff Road Suite 107 Wilmington 28405 Agent: Lawton Shipman ASCEND INSTITUTE LLC
7609 Pontchartrain Rd Wilmington 28412 Agent: Maura Riordan ATHLETES CORNER LLC 412 N Howe St NC Southport 28461 Agent: James G. Boatwright III ATLANTIC SHORES AERIAL IMAGES LLC 9980 S. Olde Towne Wynd SE Belville 28451 Agent: Cheryl J. Moody AUTOGEVITY LLC 113 Drake Road Hampstead 28443 Agent: Brian Gonzales AVM EXCAVATION INC. 7205 Grizzly Bear Court Wilmington 28411 Agent: Anthony Joseph Costagliola Jr AVOCADO BEARD CO. LLC. 1130 42nd Street Wilmington 28403 Agent: Michael Brian Hostetler AVOCET ADDITIONS LLC 1121 Military Cutoff 5 Suite C156 Wilmington 28405 Agent: Christopher Pasch BARREL MAKER FABRICATION LLC 22 Twin Oaks Dr Castle Hayne 28429 Agent: Andrew B Cooper BB HYDE FARMS LLC 6622 A Gordon Road Wilmington 28411 Agent: David Brett Bostic BE AGRICULTURE INC 143 Downy Dr Hampstead 28443 Agent: Skip Eames BE THEIR VOICE INC 587 Wooten Rd Maple Hill 28454 Agent: Sasha Elizabeth Tociapski BEACHSIDE COMMONS HOA INC. 14223-A NC Hwy 50 Surf City 28445 Agent: Mohamad E Afify
BEACHSIDE COMMONS LLC 14223-A NC Hwy 50 Surf City 28445 Agent: Mohamad E Afify BEACHSIDE COMMONS PLAZA LLC 14223-A NC Hwy 50 28445 Agent: Mohamad E Afify BEACHSIDE COMMONS STORAGE LLC 14223-A NC Hwy 50 Surf City 28445 Agent: Mohamad E Afify BEEZ LEAVES LLC 200 Ash Rd Southport 28461 Agent: Brandon Corbett BERARE PHOTOGRAPHY & CRAFTS LLC 7337 Springwater Drive Wilmington 28411 Agent: Cecille Kalette Covington BESPOKE BRANDS L.L.C 10 Grace Street Apt. 302 Wilmington 28401 Agent: Austen Peters BISCUITS ‘N BAGELS LLC 1015 Ashes Dr Ste 202 Wilmington 28405 Agent: Mark Brisson BLACK DOG RENTAL PROPERTIES LLC 107 SW 9th Street Oak Island 28465 Agent: Leigh Smith Greene BOOKO BOARDS LLC 8306 Sidbury Rd Wilmington 28411 Agent: Damien Bukovsky BRIAN MORRIS LLC 4434-1 Flagship Ave SE Southport 28461 Agent: Brian Morris BROCK HOLMES TRUCKING INC. 5130 Alton Loop NW Shallotte 28470 Agent: Brock Haywood Holmes BROOKS ESSENTIALS LLC 803 Herring Gull Ct Hampstead 28443 Agent: Christina Joanne Brooks BUBBLEGUM PINK PRODUCTIONS LLC 116 A James Avenue Surf City 28445 Agent: Ali Wigle BUTCHER’S TABLE LLC 1213 Culbreth Drive Wilmington 28405 Agent: Melanie A Dunn BYS CONSULTING 2 LLC 7039 Masonboro Sound Road Wilmington 28409 Agent: Janice Robinson C & E AUTO SALES LLC 1336 Montague Road Currie 28435 Agent: Christopher Robert Foster CAPE FEAR CLOUDS LLC
205 N 5th Avenue Wilmington 28401 Agent: A David Ervin CAPE FEAR DRYWALL REPAIR LLC 7259 Sanctuary Drive Wilmington 28411 Agent: Christian Clavadetscher CAPE FEAR REAL ESTATE DEVELOPMENT LLC 6481 Walden Pond Lane Southport 28461 Agent: Anthony Brian Fairweather CAROLINA BEACH DECK DOCKS AND SIDING LLC 146 Cormorant Way Wilmington 28412 Agent: George James Edinger CAROLINA SOCIALITES L.L.C. 509 Vorils Lane Apt. 203 Wilmington 28411 Agent: Courtney Reichert CARVE DESIGN LLC 499 Crestview Dr. Southport 28461 Agent: Leeann Marie Huntley CAUSEY COMMISSION HOLDINGS LLC 7217 Fisherman Creek Drive Wilmington 28405 Agent: Brian Causey CELEBRATION CANDLES OF NC LLC 1333 Hydrangea Court Leland 28451 Agent: Faye DorneyMadgitz CHAMPION NINE TEN INC. 430 Clearbrook Drive Wilmington 28409 Agent: Ronald Todd Champion CLASSIC COLLECTIBLE FOUNDATION 213 Colquitt Dr Wilmington 28412 Agent: Brian Michael Friend CLEAN AND BRIGHT EXTERIOR WASH LLC 1343 Stone Chimney Rd Supply 28462 Agent: Amy P Morton CLEAN CUT RENO LLC 201 Alston Blvd. Suite C #41 Hampstead 28443 Agent: Jordan R Albertson CM SERVICES & CONSULTING INC. 4510 Middlesex Road Wilmington 28405 Agent: Colleen M Broyles CN CONSULTING LLC 3134 Moss Hammock Wynd Southport 28461 Agent: Cheryl Nichols COASTAL BUILDERS NC LLC 9138 Devaun Park Blvd Calabash 28467-3072 Agent: Terry J Terragna
COASTAL CAROLINA LIGHTING LLC 8964 Landing 3 Ct SW Sunset Beach 28468 Agent: Melissa Anne Wilson COASTAL CAROLINA MOISTURE SOLUTIONS LLC 148 Bellhammon Forest Drive Rocky Point 28457 Agent: Cory Jones COASTAL FREIGHT EXPRESS LLC 1208 Clancy Dr Leland 28451 Agent: Daniel Brunson CORPORATE MILITARY CONTRACTING OF N.C. INC 2013 Olde Regent Way Ste 150 Leland 28451 Agent: James A Davis CORTES MARQUEZ CONSTRUCTION LLC 103 Royal Street Leland 28451 Agent: Fernando Cortes Marquez COSTA CONSTRUCTION LLC 5743 Park Ave Wilmington 28403 Agent: Joseph Crawford Costa CREATIVELY COVERED CO LLC 8209 Market Street Suite A 297 Wilmington 28411 Agent: Dawn McDowell CX TOBACCO & VAPE INC. 10207 Beach Dr SW Calabash 28467-2703 Agent: Saddam Alrobaiey DANIELS REALTY LLC 229 Sealane Way Kure Beach 28449 Agent: Christopher Bryce Daniels DAVID VURNAKES DMD PA 2606 Soft Sky Lane Wilmington 28409 Agent: David Alan Vurnakes DEAS ENTERPRISES LLC 1405 Twintown Dr Bolivia 28422 Agent: Taraus Jamal Deas DECKER HOME INSPECTIONS L.L.C. 3047 Weatherby Ct. Wilmington 28405 Agent: Todd Decker DELANEYS COASTAL CONSTRUCTION LLC 2033 Willow Stone Ct. Leland 28451 Agent: Christopher Troy Delaney DEMETRIO DIAZ PAINTING INC. 4017 Long Bow Ct Leland 28451 Agent: Demetrio Diaz DIAMOND HANDS LLC 3601 Sir Galahad Ln Apt 203
Wilmington 28403 Agent: Andrew Magee DOLPHIN 2021 LLC 1904 Eastwood Rd Ste 306 Wilmington 28403 Agent: Kathryn E Roberts DWYER BROTHERS PROPERTIES LLC 406 Clearbrook Dr. Wilmington 28409 Agent: Timothy Dwyer DYNASTY LOC & GROWTH BY NAE LLC 8515 Point Caswell Rd Atkinson 28421 Agent: Nekeshia Gurganious EAGLE AERIAL SERVICES LLC 480 Captain Beam Blvd Hampstead 28443 Agent: Timothy Coucoulas EAGLE ISLAND FRUIT AND SEAFOOD INC. 728 Bracken Fern Drive Wilmington 28405 Agent: Deborah Oliver EAGLE MAINTENANCE & CONSTRUCTION LLC 5700 Oleander Drive Wilmington 28403 Agent: James L. Yost III EAST COAST PRO WASH & PAINT INC 3007A N Kerr Ave Wilmington 28405 Agent: Robert B Snider EAST COAST RETRO LLC 321 Apollo Drive Wilmington 28405 Agent: Zachery Warren Payne EAVES LOGISTICS INC. 128 Rich Inlet Dr Wilmington 28411 Agent: Delwin Paul Eaves EB DYNAMICS LLC 407 K Ave Kure Beach 28449 Agent: Kenneth Smith ECHO SECURITY LLC 4946 Tanbark Dr. Wilmington 28412 Agent: Lucas Buzzell ELEVATED COWORKING LLC 609 Jennings Rd Wilmington 28403 Agent: Madeline Blackham EMILY MORGAN PHOTOS LLC 234 Nelson Park Rd Maple Hill 28454 Agent: Emily Bean EQUALIZER DEFENSE & FIRE ARMS TRAINING GROUP LLC 9107 Sedgley Drive Wilmington 28412 Agent: Sharon Ann Powell EVOLVED EDITING LLC 102 NW 1st St. Oak Island 28465 Agent: Caron R Modeas EXCITE FOUNDATION 237 Racine Dr. Wilmington 28403
Greater Wilmington Business Journal
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February 5 - 18, 2021
Page 17
| BIZ LEADS | Agent: Richard DeCrescente F DRIVER TRUCKING LLC 209 Boyce Road Rocky Point 28457 Agent: Farrakhan Driver FACILIKEY LLC 728 ANTLER DRIVE Wilmington 28409 Agent: Albert Steed FENNTIN LLC 802 Bluebird Ln Wilmington 28409 Agent: Jennifer J Martin
14 Gate 4 Carolina Shores 28467 Agent: Jenny Terracciano
2429 Randy St SW Supply 28462 Agent: Laury K Burkett
GOGGIN PARTNERS LLC 4007 Peachtree Ave Wilmington 28403 Agent: Michael Patrick Goggin
HOLLIDAY SOLD IT LLC 1401 Fennell Town rd. Rocky Point 28457 Agent: Demetria Holliday
GOLDEN WRENCH AVIATION LLC 154 Brunswick Ave East Holden Beach 28462 Agent: Christian W Cannada
FIG INVESTMENTS LLC 2611 Jolly Boat Ct Wilmington 28411 Agent: Luzann Santos
GOODBYE GARBAGE LLC 232 La Salle St Wilmington 28411 Agent: William Allen Bullard
FLAMINGO ISLAND INC. 609a Piner Rd Unit 116 Wilmington 28409 Agent: Elizabeth Princiotta
GOODSON BUILDING & REMODELING L.L.C. 2809 Berry Patch Ct. Castle Hayne 28429 Agent: Dillon Goodson
FLYING MONKEYS L.L.P. 609a Piner Rd Unit 116 Wilmington 28409 Agent: Ironwood LLC
GOT EM AND GONE TOWING AND RECOVERY LLC 1610 N 6th St Wilmington 2840 Agent: Jermaine Thomas
FULL FORCE PRESSURE WASHING LLC 569 Taft Rd Supply 28462 Agent: Owen Ryan Long FUTCH CREEK CAPITAL GROUP L.L.C. 191 HL Smith Road Wilmington 28411 Agent: David Lawrence Grigg III GATOR STRONG LLC 6319 Carolina Beach Rd Wilmington 28412 Agent: Daniel Vulin GENERATIONAL FINANCIAL SOLUTION LLC 717 Dawson St # A Wilmington 28401 Agent: Lakisha Beverly GENTLE NAILS BY CHAU LLC 1735 Reed Rd NE Ste 5 Leland 28451 Agent: Chau Trinh GIOLATO GLOBAL ENTERPRISES LLC 425 Moss Tree Dr Wilmington 28405 Agent: Anthony John Giovannucci GIOVANNISTYLES LLC 4615 Blue Star Run Apt 201 Wilmington 28411 Agent: Shaquette Washington GIRON CONSTRUCTION EXTERIORS CORPORATION 3 Peckham Ct Castle Hayne 28429 Agent: Olman Milan Giron
GRAYLYNN INSPECTIONS LLC 3771 Windy Point Road SW Supply 28462 Agent: Lawrence Watson GREENE’S TRUSTING HANDS LLC 509 Maides Ave Wilmington 28405 Agent: Lafaunta Ann Damon HAWKLEY VENTURES LLC 4006 Cedar Avenue Wilmington 28403 Agent: Roman Hawkins HEAD HIGH CAPITAL LLC 139B S Boca Bay Ln Surf City 28445 Agent: Eric S Shirley HEALTH CARE IT POLICY CONSULTING LLC 1625 S. Moorings Drive Wilmington 28405 Agent: Sarah Sanguinetti HERNANDEZ HOME RENOVATIONS LLC 3540 Rooks Rd Atkinson 28421 Agent: Pablo Junior Hernandez HF COST REDUCTION CONSULTING LLC 120 W Moore St Southport 28461 Agent: David Hugh Fosbury HICKMAN LEGACY FARMS INC 97 Randolphville Rd. NE. Bolivia 28422 Agent: Jamye Hickman Lindsey
GLOBAL MCIS CORPORATION 507 Fern Creek Lane Carolina Beach 28428 Agent: Wesley O Holmes
HILLSIDE HOMES LLC 609 Piner Rd Suite A #150 Wilmington 28409 Agent: Nakia Robbins
GLOW ON THE GO BY JENNY LLC
HOLDING A HAMMER SERVICES LLC
IN BLOOM BOTANICALS L.L.C. 5306 Autumn Dr Wilmington 28409 Agent: Karen May INB TRANSPORTATION LLC 901 East Wilmington St Burgaw 28425 Agent: Nathaniel Bannerman Jr INDEPENDENCE LLC 221 N 4th St Wilmington 28401 Agent: J Todd Turner INFINITI EXTERIORS LLC 1112 Walbury Ct Leland 28451 Agent: Adam Simone INNIMBO LLC 1930 Sommersett Rd SW Ocean Isle Beach 28469 Agent: Jeffrey J. Oleniacz INTRACOASTAL ACCOUNTING L.L.C. 109 Owls Lane Wilmington 28405 Agent: Karen Lanece Zielonka ISLAND GIRL REAL ESTATE LLC 603 Lake Drive Carolina Beach 28428 Agent: Pennie L. Morris ISLAND LIFE REAL ESTATE LLC 4130 Long Beach Rd Southport 28461 Agent: April Annas ISLAND TIME TIKI CHARTERS LLC 4610 Blue Star Run Apt.103 Wilmington 28411 Agent: Brandon Woodard J&E SWAIN LLC 1173 N. Shore Drive Southport 28461 Agent: Jerry Wilson Swain JACOBS FAMILY HOLDINGS LLC 2534 Rooks Rd Atkinson 28421 Agent: Darius Bentley JAKES DETAILING LLC 4601 Bentley Dr Wilmington 28409 Agent: Jake Wierzbicki JASMINE KAY AND CO. LLC 310 N 6th St. Wilmington 28401 Agent: Jasmine Vesterfelt
Agent: Joy B Bryant
Agent: Steven P Stegman
JEN LEGACY ENTERPRISES LLC 700 Indica Court Apt 301 Wilmington 28405 Agent: Joy Newton
L H VENTURES LLC 8825 Tilbury Drive Wilmington 28411 Agent: Lu Ann Haygood
JENNIFER NOMIDES HEALTH & WELLNESS LLC 10236 Croft Point Lane Leland 28451 Agent: Jennifer Marie Nomides JENSON8 AMERICA INC. 2004 Bay Gull Court Wilmington 28405 Agent: Tobin Geatz JERLINDAKY LLC 1503 Carolina Beach Avenue N Unit 2c Carolina Beach 28428 Agent: Danielle Robbins JJC LOGISTICSLLC 109 Gores Row Wilmington 28401 Agent: Chante Lenor Whitfield JOJO’S KITCHEN LLC 2316 S 17th St Ste 140 Wilmington 28401 Agent: Josephine S Matau JOSH YOUSE MUSIC LLC 1022 Grandiflora Drive #120 Leland 28451 Agent: Joshua Scott Youse JOSHUA J. PODCZERVINSKI CPA P.C. 13 Richmond Street Ocean Isle Beach 28469 Agent: Joshua Podczervinski K2 SUITES LLC 3137 Wrightsville Ave Wilmington 28403 Agent: Jacquelyn Rogers KAI HOLDINGS LLC 143 Downy Drive Hampstead 28443 Agent: Skip Eames KELLERTON INSURANCE BROKERAGE SERVICES LLC 3332 Kellerton Pl Wilmington 28409 Agent: Kelly Frances Cascaden KENNETH ALRIC GORE AMERICAN LEGION POST 550 INC. 2154 Bayview Dr SW Supply 28462 Agent: Ronnie J Markum KERMIT TAKES MANHATTAN LLC 1917 Ashbrook Dr Wilmington 28403 Agent: Kermit Austin
JAVIER HANDYMAN & PAINTING LLC 116 Gordon Rd Wilmington 28401 Agent: Javier Parra Trujillo
KIRBY GATES MANAGEMENT OF MEMPHIS LLC 2334 S. 41st Street Wilmington 28403 Agent: Yoel H. Balter
JBEAUTY BAR LLC 117 Cherokee Trail Wilmington 28409
KPS CONSULTING CORP. 194 N Shore Dr Southport 28461
LEMON CRUSH BEAD IT BAR LLC 4447 Lloyd Court Wilmington 28405 Agent: Jennifer Lynn Stone LIBERTY CARROLLTON PROPERTIES OF NEW ORLEANS LLC 2334 S. 41st Street Wilmington 28403 Agent: Yoel H. Balter LIBERTY COMMONS NURSING AND REHABILITATION CENTER OF FORSYTH COUNTY LLC 2334 South 41st Street Wilmington 28403 Agent: Yoel H. Balter
LLC 906 N 5th Ave Wilmington 28401 Agent: Samara Hubbard MBBM LOGISTICS LLC 3315 Belt Rd Castle Hayne 28429 Agent: Brittany Nicole Batts MEADOWGRASS INC. 1014 Meadowgrass Lane Leland 28451 Agent: Michael C. Mabee MICHAEL W. ESPOSITO LLC 3515 Iris St Wilmington 28409 Agent: Michael W. Esposito MID-ATLANTIC ACOUSTICS INC. 1229 Croaker Lane Carolina Beach 28428 Agent: Richard Von Lange
LIBERTY DEVELOPMENT OF NEW ORLEANS LLC 2334 S. 41st Street Wilmington 28403 Agent: Yoel H. Balter
MOBILE GROOMING OF WILMINGTON LLC 2604 Justus Ct Wilmington 28405 Agent: Heather Frawley
LIBERTY KIRBY GATES LLC 2334 S. 41st Street Wilmington 28403 Agent: Yoel H. Balter
MONTANI CONSULTING L.L.C. 305 Wayne Drive Wilmington 28403 Agent: Katherine F Daniel
LITTLE LOAF BAKERY & SCHOOLHOUSE INC. 728 Bracken Fern Drive Wilmington 28405 Agent: Deborah G Oliver
MORTENSON CPA PLLC 322 S. Lumina Avenue Wrightsville Beach 28480 Agent: Douglas Mortenson
LJA GARCIA LLC 331 Bell St Lot 38 Wilmington 28401 Agent: Jose Antonio Garcia Nieto LOST TEMPLE EXOTICS LLC 714 Briar Creek Way Apt 202 Wilmington 28411 Agent: Garrett Temple LOVE THY BAGEL FRANCHISING LLC 4585 Atrium Ct Wilmington 28405-0200 Agent: Phil Santomassi M.R. DULA ENTERPRISE LLC 4241 Sunglow Dr. Wilmington 28405 Agent: Matthew Ryan Dula MAIN EVENT FISHING LLC 901 Canal Drive Carolina Beach 28428 Agent: Christopher Register MARKET STREET USED TIRES & AUTO CORPORATION 4101 Chandler Drive Wilmington 28405 Agent: Luis Orellana MARQUETTE MERCHANDISING SERVICES LLC 128 E Island Dr Oak Island 28465 Agent: Michella Noll Bowman MASSAGE BY SAMARA
OCEAN TIDES INTEGRATIVE WELLNESS LLC 7418 Balmore Drive SW Sunset Beach 28468 Agent: Jennifer Sanford ODYSSEY ENTERTAINMENT LLC 320 Windsong Rd Wilmington 28411 Agent: Brian C. Roll ONE MORE SOFA LLC 193 Castle Bay Drive Hampstead 28443 Agent: Michael McMillion OTTARAY OUTFITTERS LLC 4956 Long Beach Rd. SE Ste 14 PMB 117 Southport 28461 Agent: Jordan Michael Gregory
REGGIE’S VEGGIES AND PLANTS L.L.C. 657 Hidden Valley Rd Wilmington 28409 Agent: Emily Lauren Krueger
PARADISE AND SONS REMOVAL LLC 6228 Sentry Oaks Dr Wilmington 28409 Agent: Michael Kevin Piner PARSONS PET SITTER LLC 1744 Sandalwood Dr Ocean Isle Beach 28469 Agent: Billie Parson
PINE RIDGE PROPERTIES HOLDING CO. LLC 519 Market Street Wilmington 28401 Agent: James L. Seay
NEXT ERA INSTALLATIONS LLC 7430 Pireway Road Longwood 28420 Agent: Patrick Kelly NIXON DISTRIBUTION TRUCKING LLC 311 N 2nd Street Suite F Wilmington 28401 Agent: Gerald Lee Nixon NORTH CAROLINA APPREHENSION TEAM LLC 3972 Business 17 #I Bolivia 28422 Agent: Kathleen P Sharpe
RAMSAY HOMES LLC 108 Dellwood Drive Wilmington 28405 Agent: Jeffrey Mark Ramsay
PAPERCUT BOOKS LLC 200 Market St. Unit 100 Wilmington 28401 Agent: Holly Alaria Bader
NAILS WONDER LLC 5125 MAKO DRIVE Wilmington 28409 Agent: Bao The Huynh
NEW BROOKLYN HERITAGE HOLDINGS LLC 302 N Lumina Ave Wrightsville Beach 28480 Agent: Robert Rosenberg
PURPLE SPACE MONKEY INC. 609A Piner Rd Unit 116 Wilmington 28409 Agent: Ironwood LLC.
REAL DREAMS INC. 301 Harley Road Wilmington 28405 Agent: Thomas Kirk Englebright
PICKETT RE LLC 7011 Cayman Court Wilmington 28405 Agent: Marshall M Pickett
NC118 LLC 3979 Baynard Ct Southport 28461 Agent: Robert Rettinger
PROFESSIONAL APPRAISAL COMPANY COASTAL LLC 209 E Colonnade Dr Hampstead 28443 Agent: Christopher D Hafer
OVITECH SOLUTIONS LLC 265 Majestic Oaks Dr Hampstead 28443 Agent: Louis Guillermo Oviedo Sr.
MSS VENTURES LLC 908 Rabbit Run Wilmington 28409 Agent: Marius Basson
NC LUXURY PROPERTY MANAGEMENT LLC 120 W Moore St Southport 28461 Agent: David Hugh Fosbury
Rd NW Ash 28420 Agent: Savannah Marie Thompson
PINK ELECTRIC INC. 315 Gurganus Rd Maple Hill 28454 Agent: Imeelyn Fay PIT STOP PERFORMANCE LLC 3041 Fulford Avenue SW Supply 28462 Agent: Michael P Derr POLLOCK FAMILY FARMS LLC 7404 Dachshund Court Wilmington 28411 Agent: Clayton Pollock PORT CITY HEIGHTS L.L.C. 2432 Salinger Ct Apt 204 Wilmington 28412 Agent: Jason Moore POSH PALM HOMES LLC 1312 S Anderson Blvd Topsail Beach 28445 Agent: Julie C Spence PRESSURE L.L.C. 237 Westchester Rd Wilmington 28409 Agent: Lakisha Beverly PRO ONE ENTERPRISE LLC 3991 Ash Little River
RESNICK REALTY LLC 229 Victoria Dr. Wilmington 28401 Agent: Rebecca Simmons Resnick REVITALIZE ILM LLC 400 Carl St Suite 201 Wilmington 28403 Agent: Tyndall Holdings Company LLC RIPPLES DEVELOPMENT LLC 6553 CHALFONT CIRCLE Wilmington 28405 Agent: Henry Marshall Smith RIVERWOOD APARTMENTS LLC 1051 Military Cutoff Road Suite 200 Wilmington 28405 Agent: William W Shoettelkotte RIVERWOOD INVESTORS LLC 1051 Military Cutoff Rd Ste 200 Wilmington 28405 Agent: Calvin F Wells Jr ROBERT ALLEN KIRK JR. LLC 112 Northeast 35th St. Oak Island 28465 Agent: Robert Allen Kirk Jr S & H INVESTMENT LLC 925 Old Ocean Hwy Bolivia 28422 Agent: Sylvia H Shelley S R REMODELING INC. 9869 Red Fox Run Winnabow 28479 Agent: Samuel Wakefield Klein S.A. BOWENS TRUCKING LLC 4821 Little Prong Rd NW Ash 28420 Agent: Samuel A Bowens
Page 18
February 5 - 18, 2021
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Greater Wilmington Business Journal
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RESTAURANT ROUNDUP
BUSINESS OF LIFE
This is a sampling of stories from the Business Journal’s weekly Restaurant Roundup email. Subscribe at wilmingtonbiz.com.
Bottle shop, bar opens in downtown Wilmington The Hop Yard, a Raleigh-based bottle shop and bar, has opened a second location, at 108 Grace St. in Wilmington in the space previously occupied by Bombers Beverage Co. Owners Susan Barnes and her husband, Christian Stoner, along with partner Lance Rogers, opened their first location in North Raleigh about six years ago. Barnes and Stoner own property in Wilmington and have been contemplating opening a location here for some time. When Bombers became available last year, despite concerns over opening a new business during a global pandemic, the team decided to move forward with a second shop. Barnes said she and her partners are trusting in the fact that they have a strong business model and the consistent growth and development Wilmington has experienced over the past several years. The Hop Yard features 24 taps, with four reserved for wine. It currently has over 200 beers available in bottles and cans, and expects that to double in the coming weeks. Barnes said she and her partners plan to have a wide range of styles available and to promote small, lesser-known breweries. They also plan to bring in beer from breweries they have worked with in the Triangle and Rocky Mount areas, as well as local Wilmington breweries. There will be alcoholic kombucha, ciders and wine by the bottle, as well as non-alcoholic selections.
Seafood eatery brings a taste of Louisiana Carolina Crab House opened its third location, at 341 South College Road in Wilmington in the University Commons Shopping Center. Jerri Allen, director of operations, said the opening, which took place Dec. 31, had been delayed by about five months because of setbacks in construction and other issues stemming from the pandemic. The group, which specializes
in Cajun-style boiled seafood, opened their first location in North Charleston, South Carolina, in 2017 and, according to Allen, has experienced tremendous growth over the past three years. A fourth location opened recently in Summerville, South Carolina, and a Fayetteville location is expected to open by the end of the year. The menu consists of a wide range of fried and boiled seafood available in baskets and as combo platters. There are 10 Juicy Seafood Signature Combos served with corn and potatoes, as well as an option to create your own combo with a choice of one half pound of seafood, a piece of corn and potatoes. Each of the boils comes with a choice of sauce: garlic butter, lemon pepper or Cajun, or for the adventurous, the house sauce, which is a combination of all three. Guests can also choose their desired level of spice.
Pine Valley Market expands its prepared food Pine Valley Market has been in the prepared foods and catering business for nearly 20 years, and co-owner Christi Ferretti reports that in 2020, the market’s prepared foods department saw a greater than 20% increase in sales. Much of that can be attributed to the market’s regular frozen casseroles, but also an expanded menu that has included quiche, sausage gravy, cobblers and other comfort foods. “Our frozen prepared meals are quality, scratch-made dishes that freeze well and can be baked from frozen or thawed for faster heating,” Ferretti said. After a short break at the start of the new year for some remodeling and to strategize for 2021, Ferretti and her team are excited to begin offering a revolving list of fresh meals each day. A portion of the meals that normally go straight to the freezer each day will be packaged for the heat-and-eat case. “This increases our daily selection and offers less time between the ride home and dinner on the table,” Ferretti said. “To make casseroles at home costs more money and also takes time, which is priceless to many.” -Jessica Maurer
Greater Wilmington Business Journal
wilmingtonbiz.com
February 5 - 18, 2021
Page 19
| BUSINESS OF LIFE | Co-op could help feed city’s Northside BY TERESA MCLAMB
D
owntown Wilmington is often referred to as a food desert, but the Northside in particular has been the focus of efforts to address food insecurity. An on-again, off-again 30-year conversation finally has traction with the Northside Food Co-op, a nonprofit dedicated to bringing a grocery cooperative to life within three years. “Three years ago, I was at the table with others planning to bring a grocery store to this side of town,” said Northside native Cedric Harrison. “We were also thinking about how to make it equitable and not just a store that comes in and charges high prices. “We wanted to build a store to serve the people who live there, to have a community presence and ownership, and also have a place where they can access healthy food options and education for more resources they need. A food co-op seemed to be the best route.” Voted in as president of the nine-member board of directors, Harrison said he expects a pilot program to be up and running by the end of the year. The board also includes Jordyn Appel, Genna Wirth, Frankie Roberts, Joe Conway, Joe Finley, Keith Rhodes, Lauren Hurley and Scott Whisnant. Born and raised in public housing on the Northside (which runs broadly from Market Street toward Castle Hayne Road and Water Street to about North 30th), Harrison moved away for a while but was drawn back to the city. He became involved with the Northside Health and Wellbeing Committee, which in 2018 did an extensive assessment of health and safety conditions in the area. Food insecurity and its effects on residents was among the troubling outcomes. With community involvement from individuals to institutions such as New Hanover Regional Medical Center and UNCW, the study helped to guide the direction of the resulting nonprofit. “We hope to increase life expectancy and help folks to make better choices of health decisions,” Harrison said of the decision that a food cooperative would bring badly needed resources to the community. Making nutritious food available is just part of the plan. A dietician will be available to residents on-site, he
PHOTO BY MICHAEL CLINE SPENCER
Food force: Frankie Roberts (from left), a member of the Northside Food Co-op Board of Directors, and Even Folds, project manager, are shown at Princess and 11th streets, potential site for a pilot community-owned cooperative grocery store.
said. The co-op is envisioned as a centralized point for education and assistance supported by a multitude of community talents and resources. Involved with the idea since 2003, Evan Folds consults with the group as a project manager. A trained biologist, Folds says his passion is to establish regenerative food systems. “[The co-op] cuts straight to the heart of that,” he said. Since incorporating as a nonprofit in March, the board has completed its bylaws and is in dialogue with several organizations about support. The first patron share was sold in December. Lifetime membership is $100, and 189 shares had been sold by mid-January, Folds reported. One of the greatest challenges to this early effort has been educating potential members on what a co-op is, Folds said. “People think, ‘Oh, it’s a business that wants to be cooperative,’” he quipped. “Literally it’s a different style of business. Chapter 54, Subchapter 4 of North Carolina law covers it. It demands a board of directors and a one-person, one-share posture.” Tidal Creek Food Co-op is the
closest example in New Hanover County. Members pay $40 per year and get member-only pricing on some items, similar to a retail grocery’s loyalty rewards program. Tidal Creek’s genesis was in response to the desire for organic foods; Northside is more about access to fresh foods. In Brunswick County, two of the largest employers are Brunswick Electric Membership Corp. and Atlantic Telephone Membership Corp., both several decades old. Electric coops, in particular, are common in the state. All operate on the premise of one share and one vote per member. No one can buy multiple shares. “It is literally community owned,” Folds said. He said he hopes to reach 300 members shortly to demonstrate to banks and investors that there is wide community support. He’s also in conversations with community leaders about the value the co-op can bring to residents and the municipal government. “There’s a challenge of having people in underserved communities come to terms with ownership,” Folds noted.
A parallel concern is determining how to communicate with a segment of the population that may not have ready access to the internet. For Harrison, one of the biggest challenges is to not overpromise and under-deliver. “Our main goal is to make it where we don’t come in and take advantage of the community. We want to make prices affordable. We don’t want to tell people what to eat, but to provide them with options of things they can eat and more education about what to eat to increase life expectancy,” he said. He said he hopes residents will invest in the idea. While Harrison notes the final project will be two or three years in the making, the group has a temporary building at 11th and Princess streets from which a pilot will be launched. He describes the pilot as being less fancy than the hoped-for permanent grocery, but operational. “The pilot is us building the infrastructure and using that facility as a market study to go into the full term,” Harrison said. “We’re taking risks so we’re taking notes.”
Page 20
February 5 - 18, 2021
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Greater Wilmington Business Journal
It’s a Remarkable New Day. NHRMC is now part of the Novant Health family. The future is bright here in Southeastern North Carolina. The partnership of Novant Health and New Hanover Regional Medical Center means more convenient and affordable care for those who need it most. It also means even more access to the latest technology and clinical trials for earlier detection and faster recovery so you can live your best life. We may be in a pandemic, but we just got great news about our region’s healthcare. Now that’s a remarkable new day.
NovantHealth.org/NHRMC
