Surf’s up
A 2nd location for Blue Surf eatery Page 19
July 16 - August 5, 2021 Vol. 22, No. 14
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WEB EXCLUSIVE Big deals
Property changes hands wilmingtonbiz.com
On board
Surfing firms share space Page 11
Taking a toll Private option proposed for bridge Page 14
ILLUSTRATION BY MARK WEBER
Market snapshot: Overall stock performance for Live Oak Bancshares and nCino since their Nasdaq debuts
Index
Taking stock of nCino, Live Oak
Economic Indicators .............................. 3 Technology ............................................. 4 Hospitality ..........................................5-6 The List .................................................. 8 In Profile...............................................11 Real Estate..................................... 12-13 Business of Life.............................. 18-19
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O
BY JENNY CALLISON
ver the past year, the stock prices of Wilmington’s two public fintech companies have followed opposite trajectories. The price of nCino’s shares since its remarkable debut last July has slumped somewhat, while Live Oak Bancshares’ stock now commands the highest prices in its sixyear history on the Nasdaq exchange.
With a market capitalization of more than $6 billion, nCino has more than twice the value of Live Oak, its former parent, which has a market cap of about $2.7 billion. First, let’s look at nCino. Just before its Nasdaq IPO on July 14, 2020, the banking software company priced its shares at $31. Those shares were going for nearly three times that by the end of the first day. The price dropped within a couple of days but remained in the $70-$90 range for the remainder of 2020. Since the start of 2021, the highs have been in the $60s with lows around $50 in mid-May. Since then, however, the share price has inched up steadily back into the
$60-$70 range. Last November, Motley Fool contributor Keith Noonan wrote that he considered nCino’s stock “oversold.” He cited the stock price’s dip of 14% in September and further decline of 11.5% in October following a secondary public offering of more than 6.7 million shares earlier in the month. He did note, however, that the price was rallying at the time of his analysis. In April, Simply Wall Street did a “risk check” on four points as a guide to potential investors. The firm noted that nCino is still unprofitable and not forecast to become profitable over the next three years. See STOCK, page 10
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NEW HANOVER MAY 2021:
PENDER MAY 2021:
BRUNSWICK MAY 2021:
DOWN FROM MAY 2020:
DOWN FROM MAY 2020:
DOWN FROM MAY 2020:
14.7%
12.2%
16.4%
4%
0
4%
5.5%
$26,118,724 UP FROM SALES TAX COLLECTION APRIL 2020 MAY 2021 DEPARTURES
MAY 2021 ARRIVALS
37,192
41,683
UP FROM MAY 2020 DEPARTURES
UP FROM MAY 2020 ARRIVALS
Source: N.C. Department of Commerce
Commercial May 2021
$383,747
$299,363
$320,409
300 300
300K
50K
2020
2021
2019
250 250 200 200 150 150 100 100
5050 00
5/20
520
6/20
620
7/20
720
8/20
820
9/20
920
Source: Cape Fear Realtors
APRIL ROOM OCCUPANCY TAX (NEW HANOVER COUNTY)
2020 2020
Residential
350 350
350K
100K
Source: N.C. Department of Revenue
400 400
400K
150K
7,454
MONTHLY BUILDING PERMITS (BRUNSWICK COUNTY)
(SINGLE-FAMILY, TRI-COUNTY AREA)
200K
$18,080,147
Source: Wilmington International Airport
JUNE AVERAGE HOME SALE PRICE
250K
(NEW HANOVER COUNTY)
SALES TAX COLLECTION APRIL 2021
6,894
$164,136
0
Page 3
APRIL SALES TAX COLLECTION
MAY AIRPORT PASSENGER TRAFFIC
MAY UNEMPLOYMENT
0
0
July 16 - August 5, 2021
| ECONOMIC INDICATORS |
2021 2021 Source: Wilmington CVB
10/20
11/20
1020
12/20
1120
1220
1/21
121
2/21
221
3/21
321
4/21
421
5/21
521
Source: Brunswick County Code Administration
REGIONAL BUDGET CHANGES
2020-21FY/2021-22FY
14.6%
$500M
$1,837,536
0
wilmingtonbiz.com
Greater Wilmington Business Journal
$400M 9.8%
$300M
17.2%
$200M
$2.94
8.5%
AVERAGE PRICE PER GALLON FOR WILMINGTON ON JULY 7, 2020:
$100M 0
AVERAGE PRICE PER GALLON FOR REGULAR UNLEADED IN WILMINGTON ON JULY 7, 2021:
BRUNSWICK COUNTY
PENDER COUNTY
NEW HANOVER COUNTY
CITY OF WILMINGTON
Source: Local government budgets
$2.07 Source: AAA
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July 16 - August 5, 2021
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Greater Wilmington Business Journal
| TECHNOLOGY |
Generating privacy and leads
F
or many homebuyers, websites like Zillow or Trulia may be their first stop when starting the search for a home. When finding a home they like, they may click JOHANNA the “Contact Agent” button and submit their contact information with the goal to directly contact the listing agent. However, real estate search websites are selling that contact information (and other user information) and creating leads that many other agents and third parties pay for. According to the Zillow Privacy Policy, in addition to collecting data submitted by the user, it also collects activity, device and location information, cookies, pixel tags and other tracking technologies as well as social media and audiovisual information. Zillow, which owns Trulia, HotPads and other brands, states that it is “using your information to provide value for you,” however, it may also generate unwanted calls and emails from agents and others whom users may not have wanted to contact in the first place. This is the reason why Wilmington-based Reignlist launched a new platform last month that aims to deliver solutions to problems it found in other real estate listing sources, said Patrick Brown, co-founder and chief operating officer with the startup. With Reignlist, when a homebuyer selects to contact the agent, they will be directly interacting with the listing agent and are not required to provide phone numbers or email addresses. An agent is only able to see their first name and last name initial. “The communication is only being done on our platform. Now, if you decide that you want to pursue it and move forward, you can release your contact information to whomever you want,” Brown said. “But the idea here is to safeguard their private contact information because we’re living in a world with robocalls … so we’re really trying to be part of that solution where we’re not just existing to capture information.” In addition to serving homebuyers, Reignlist also helps agents by ensuring that they are the only ones
INFO J U N K I E Michelle Fogle
Owner, Fleet Feet Wilmington As the owner of Fleet Feet in Wilmington, a specialty running and walking store, Fogle said she helps customers by using a mix of technology, education and experience.
CANO
PHOTO C/O REIGNLIST
Close to home: Real estate listing platform Reignlist includes COO Patrick Brown (from left), his father, CEO Anthony Brown, and Emily Bower, marketing director.
to receive the connections of those interested in their listings, Brown said. “What Reignlist is doing is if it’s your listing, we’re creating a 24/7 virtual open house on your listing,” he said. “If you get a hit on your property, we’re not going to sell that to anybody else. You own that outright. And that’s very different because it’s a ‘your listing, your lead’ type of mentality. And that’s marketing really well to our agents because that is a huge problem.” Another feature of Reignlist that seeks to help both buyers and agents is “Real Estate Request” where users can submit information on what they are looking for with the knowledge that it will be provided to an agent or broker and with the intent of being contacted. “This would create two leads that can be purchased by a real estate agent and by a mortgage loan officer. This is a buyer’s lead that was created by a customer that wants to be contacted by somebody,” Brown said. Professionals can purchase these leads a la carte style, and Reignlist allows up to three professionals to have a shot at a request, he added. In addition, Reignlist also seeks to be a comprehensive platform for the real estate industry. The website has several other features including Reign Pro, for reviewing and contacting professionals such as plumbers, electricians, landscapers and more. Reignboard is similar to Pinterest where users and professionals can share photos of home remodeling projects or ideas.
Mortgage Pro is for loan officers and brokers. “The idea is that for everything on the local level there’s partnerships. There are agents that work well with [certain] mortgage loan officers, as well as inspectors and home insurance. We’re not going to sell ad space to other mortgage loan officers that you don’t know that you might not have a working relationship with, we’re going to go ahead and showcase the relationships that you already have established.” Currently, Reignlist is starting in the North Carolina market with home listings in Wilmington, Raleigh, Wake Forest and others. The startup is made up of seven employees, working remotely and officially launched its platform in June. The company was co-founded by CEO Anthony Brown (Patrick Brown’s father) who has 40 years’ experience in real estate and wanted to address issues that real estate agents have been experiencing. The young company hopes to reach certain milestones, including capturing at least 2.5% market share of all agents in North Carolina that would help with its monthly recurring revenue and eventually get institutional capital to scale to bigger markets. “We want to be a technology that helps improve the way that agents get in touch with the customers, improves the way that they handle their listings and drive a more transparent process in the beginning,” Patrick Brown said.
“From managing inventory, to tracking orders, to my daily tasks, I use apps, my phone and my Garmin watch to help me manage throughout the day.” She likes to read the Greater Wilmington Business Journal to stay on top of what’s happening with local business and development, and she subscribes to several morning news briefs covering local, national and international news, as well as digital magazine Running Insight. Websites she visits for fun include ESPN, Food Network and NC MileSplit. Favorite podcasts include Omnibus. “It is a podcast on everything. Different, random topics each episode on all types of subject matter,” she said. “And Six Minute Mile because it is full of news, ideas and inspirational stories from around the running and fitness industries.” She enjoys watching Jeopardy, “because who doesn't want to feel not smart at least once during the day,” as well as Ozark and Shark Tank. A recent favorite book was “The Expanse” series by James S. A. Corey and she also recommends “Where the Crawdads Sing” by Delia Owens and “The Stand” by Stephen King. Apps she uses frequently include Facebook and Instagram for marketing and interacting with customers, Strava and Untappd.
Greater Wilmington Business Journal
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July 16 - August 5, 2021
Page 5
| HOSPITALITY |
The muni: ‘A peach of a course’
F
or golfers who want the Pinehurst experience with the proximity to the beach and without the private course price tag, they need to look no further than the Wilmington Municipal Golf Course. Golf Magazine recently named the “muni” the best public course in North Carolina and No. 21 of the top 30 municipal courses in the nation. LAURA Renowned golf course designer Donald Ross designed the Wilmington Muni in 1926 to provide the public with a quality, championship 18-hole golf course. The muni’s 2014 renovation used Ross’s original plans to restore greens and bunkers. “Since the [Golf Magazine] article came out, it has given us good exposure and people want to play here,
MOORE
PHOTOS BY JOHN DOMONEY
Green game: The Wilmington Municipal Golf Course was recently named the best public course in North Carolina by Golf Magazine.
both folks coming from out of town and people in Wilmington who are proud of the ranking,” said David Donovan, PGA general manager of the course. Ross had written on one of the design plans for the course, “A peach
of a course, much too good.” That sentiment has become a motto for the muni. Most of the courses Ross designed were for private clubs, and golf was an elite game at the time, so his design of a public golf course was a
progressive plan for that period. “Municipal golf courses provide affordable golf for citizens of the townships and cities – that was the number one reason to grow the game of golf for the affordability,” Donovan said. “Golf was a rich man’s
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Greater Wilmington Business Journal
| HOSPITALITY | sport, not played by the average person. The idea behind this course was to grow the game of golf – not just for the well-to-do.” Donovan explained how there are a high number of private courses, but not many public courses in Wilmington, which creates even more of a need for accessibility for the game. Recent closures of area courses have created a strain on tee times, and more of a demand for what the muni has to offer. Considered the “Michelangelo of golf,” Donald Ross was the architect of famous courses like Pinehurst No. 2, so to have a municipal course designed by Ross offers an unparalleled experience of access and affordability for all golfers, officials say. Donovan said that most who play the course are “generally surprised for the most part – the golf course conditions are better than expected.” “We are proud of the golf course and glad the city has a public golf course like this. People expect the basics, but the muni exceeds their standards,” Donovan said. “It’s probably one of the most played courses in North Carolina. We are busy every day. We will have 60,000 rounds (of golf played) this year.”
Donovan said the course is busy seven days a week with a variety of ages often spread throughout the day. “Mornings are mostly senior players and it gets younger and younger as the day progresses,” Donovan said. The original idea of the municipal course was to expose people from all backgrounds to the game of golf. According to Donovan, the muni is living up to those expectations. “It is a unique game – the only game that brings people together from all walks of life,” Donovan said. “The Muni provides a sense of comradery among the groups that you don’t get at upscale golf courses. It’s cohesiveness and sense of community via the game of golf.” A course design that is equal parts challenge and enjoyable draws golfers into it with its walkable design and cool breezes from the Atlantic. “Golf is really about competition. From the tee to the green. Half the players are from private clubs, but they come and the feel a sense of community in the golf course,” Donovan said. “Everyone wants to play well, but it’s all about who you are playing with – not just the game, but who you are playing with that means so much to those folks.”
Green fees can vary widely, but the muni has some of the lowest fees around, which has allowed the course to build a larger clientele while providing people the chance to save money. “It is not all about making money. It is about making golf affordable,” Donovan said. “This is not priced to maximize revenues; this is meant to cover expenses and enable a savings account to invest in the future.” A “vital asset to the city of Wilmington,” Donovan shared current investments in the course that include a new clubhouse and expanded parking lot, which they expect to have completed by late fall. “The new clubhouse will set a better atmosphere immediately and will elevate the image of the muni. Golfers like to settle up the game, have a beer or two perhaps, and this will give them a nice place to do so,” Donovan said “A lounge area and expanded back porch with televisions will provide pretty good gathering space and dress it up and make it feel nicer.” The expanded footprint of the updated facility will permit rentals for meetings and catered events. They recently expanded their golf cart fleet
as well. “People come for the golf course, but it is a nice amenity and it is a number one spot for charities. Our expanded golf cart fleet from 60 to 72 carts will keep 144 golfers on the course,” Donovan said. “Typically, the course serves 250 players a day whether there is a tournament or not.” Donovan said they are always working on “improving the bones of the course,” including turf quality and design characterization. One future focus will be on replacing the aging irrigation system, which Donovan called, “part of the life cycle of the pipes in the ground.” But the main focus will always be to “stay true to the Ross design” and the initial goal of the course to provide affordable golf. “It is really a great, old-style golf course. It is very playable – can play with one golf ball usually – there aren’t houses and lakes or ponds that gobble up golf balls,” Donovan said. “And the challenge of the design with the greens and the surrounds, are very Rossy. People love Donald Ross designs, generally. If he’s not the most revered designer, he is definitely in the top five.”
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SOS LIFE SCIENCES CORP
PENDER COUNTY CHRISTIAN SERVICES
HYBRID ATHLETE FOUNDATION
GENESIS BLOCK
TOPSAIL STEAMER
SEATOX RESEARCH INC
OPIAID
BLUE ROLL LLC
SMARTFOX TECHNOLOGIES
Friday, August 6 7:30am - 10am UNCW’s Burney Center
July 16 - August 5, 2021
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Join us in celebrating this year’s winners at our annual Coastal Entrepreneur Awards Breakfast and find out who will be crowned the 2021 Coastal Entrepreneur of the Year!
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| THE LIST |
Event Facilities
Ranked by total square feet of meeting space RANK
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
FACILITY ADDRESS PHONE WEBSITE EMAIL Wilmington Convention Center 10 Convention Center Drive Wilmington, NC 28401 251-5101 www.wilmingtonconventions.com @wilmingtonconventions.com Brunswick Community College Odell Williamson Auditorium 150 College Road NE Bolivia, NC 28422 755-7416 BCCOWA.com gravesd@brunswickcc.edu N.C. Aquarium at Fort Fisher 900 Loggerhead Road Kure Beach, NC 28449 772-0500 www.ncaquariums.com/fort-fisher ncaff.events@ncaquariums.com Hotel Ballast 301 N. Water St. Wilmington, NC 28401 343-6164 www.hotelballast.com karenf@wilmingtonhilton.com Wilson Center at CFCC 703 N. Third St. Wilmington, NC 28401 362-7999 www.wilsoncentertickets.com tickets@wilsoncentertickets.com The Village at River Landing 110 River Village Place Wallace, NC 28466 285-1487 www.riverlanding.com sfussell@murfam.com Brooklyn Arts Center + The Annex 516 N. Fourth St. Wilmington, NC 28401 859-4615 www.brooklynartsnc.com info@brooklynartsnc.com Country Club of Landfall 800 Sun Runner Place Wilmington, NC 28405 256-8411 countrycluboflandfall.com info@countrycluboflandfall.com Bald Head Island Club 1 Saltmeadow Trail Bald Head Island, NC 28461 457-7300 www.bhiclub.net ccraig@bhiclub.net Aloft Wilmington at Coastline Center* 501 Nutt St. Wilmington, NC 28401 377-7600 www.aloftwilmingtonnc.com alisa.hurt@alofthotels.com Cameron Art Museum 3201 S. 17th St. Wilmington, NC 28412 395-5999 cameronartmuseum.org/events abrennan@cameronartmuseum.org Ironclad Brewery 115 N. Second St. Wilmington, NC 28401 769-0290 www.ironcladbrewery.com Rachel.Flecke@ironcladbrewery.com The Burney Center at UNCW 601 S. College Road Wilmington, NC 28403 962-4150 uncw.edu/campuslife/services/ burneycenter.html clconferences@uncw.edu Holiday Inn Resort Wrightsville Beach 1706 N. Lumina Ave. Wrightsville Beach, NC 28480 256-2231 www.wrightsville.holidayinnresorts.com info@wrightsville.holidayinnresorts.com Terraces on Sir Tyler 1826 Sir Tyler Drive Wilmington, NC 28405 910-473-5550 www.terracesonsirtyler.com events@terracesonsirtyler.com
TOTAL SQUARE FEET OF MEETING SPACE/ SEATING CAPACITY
SQUARE FEET OF LARGEST ROOM/ TOTAL NO. OF ROOMS/ FACILITIES RATE/RATE STRUCTURE
TYPE OF SPACE/ CATERING SERVICES OFFERED/ NO. OF PARKING SPACES
Exhibit hall, grand ballroom, meeting rooms, Loading dock and drive-in access; catering and event lawn, concourses concessions; AV in-house vendor; PA system; Full in-house catering and concessions house sound; attached parking deck, 11,000 SF 258 exterior event space along river
75,000 3,640
30,173 16 Varies
52,000 1,500
15,000 2 Fees info: bccowa.com/auditorium-rentals.html
Proscenium stage, two separate event spaces No 890
48,000 350
22,000 10 Conference room: $50 per hour plus $7 per person; classroom, auditorium, exotic aquatics gallery, lower Cape Fear Shoals, other rooms and entire aquarium also available
Meeting (during business hours and auditorium after hours) and banquet (among exhibits after hours) None 227
22,500 550
5,760 17 Call for pricing
22,000 1,559
22,000 1 in performance area (three combos: main hall only/lobby only/main hall and lobby) Rate info: rentals@wilsoncentertickets.com or wilsoncentertickets.com/rentals
Performing arts center External caterers 1,200
20,000 350
5,250 10 $100-$2,500 depending on day of week, room and time slot
Board room, Ballrooms, Outdoor Spaces, Tournament hosting also available Yes 600
15,000 400
4,500 5 Call for pricing
13,000 375
4,700 5 Room rates vary
10,441 250
2,955 2 Call for pricing
10,344 455
7,300 6 Available upon request
Banquet, conference, meeting spaces, weddings, historic venue, 1800s train depot with modern technology and design Yes 75
10,000 130
2,201 4 Weddings, meetings, receptions, holiday parties, private dinners and more are available options; call for pricing; hourly rates are available
Reception room, cafe area and conference room, plus outdoor courtyard Full service in-house cafe provides catering; full bar packages available 100
9,600 300
OTHER AMENITIES
GENERAL MANAGER/ YEAR SALES DIRECTOR FOUNDED
Fredia Brady General Manager
2010
Danielle Graves Director, OWA and campus events
1993
Hap Fatzinger Aquarium Director Keely Beard Special Events Coordinator
1976
Kevin Brockway General Manager Karen Morganti Director of Sales
1969
Contact rental coordinator for more info
Shane Fernando VP of Advancement and the Arts Katie Solinski LaRaisha Dionne, Dir. of Ops. for Performing Space(s)/Lobby Rental Coordinator
2015
Hotel, Grand Clubhouse, Club Cottages & Suites, Two Golf Courses, Two Restaurants and Two Bars
Larry George Director of Hospitality Tabatha Walsh Director of Sales
1996
Jay Tatum Owner
2011
Jessi Reutter General Manager Megan Cassiere Private Events Director
1999
David Sawyer General Manager Kelsey Joaquin Caroline Craig Event coordinator event manager
1987
Located in downtown Wilmington along the Riverwalk. Hotel features The Atlantic Restaurant & Wine Loft, a rooftop Bistro which is aView and WXYZ lobby bar as well as full catering services for all banquet spaces.
Ken Lile General manager Alisa Hurt Sales manager
2021
Tours of two exhibition wings, 9.4-acre park, modern architecture
Anne Brennan Executive Director
1962
Rachel Flecke General Manager
2014
Child care for after-hour events, touch pool rental for after-hour events, behind-the-scenes tours during daytime rentals, dive demos
Grand ballroom, executive boardroom, Fitness center, business center, complimentary meeting and banquet style settings, hospitality airport shuttle, outdoor pool, Board & Barrel room, Riverview terrace and bridal suite Coastal Kitchen, Buffalo Bayou, Ruth's Chris Full-service catering Steakhouse, valet parking 191
132-year-old, repurposed church with 60-foot cathedral ceilings and the original, refurbished, Church manse and large private courtyard (Ms. 1910, two-story brick schoolhouse Cats Cottage coming in the fall) Outside catering
Private event space Full service 225
Access to golf on conditional basis
Ballroom and outdoor terrace golf course, croquet courts, tennis Fully-staffed kitchen, exclusive provider of all World-class courts, outdoor pool and recreation center, food and beverages fitness center
Originally built in 1925 and restored in 2014; 5,000 brick walls, wood ceiling and warm lighting; Upstairs and downstairs city parking garage directly across the street Located in historic downtown Wilmington; onFor private events the booking fee is based on day Select preferred caterer or Ironclad can make site brewery, multiple bars and serving staff of the week. recommendations
9,000 1,000
9,300 3 Rate ranges from $578-$3,210; four-hour rental blocks
Divisible conference center, meeting room, banquet hall Campus provider Aramark 75
Wifi, ceiling-mount HD projectors, robotic lighting
8,400 300
4,100 184 Call for details
Ballroom with outdoor terrace, multiple oceanfront banquet/meeting rooms, formal boardroom Banquet food and beverage on-site 250
Large corporate meetings/retreats and intimate social events, complimentary high-speed wireless, parking, free airport shuttle, Oceans Restaurant, priority club meetings rewards loyalty program
7,000 300
4,000 5 Depends on space needed, date/time of use; Saturdays and Sundays are full-day rentals
Ballroom, rooftop terraces, bridal suite, classroom and conference room No 121
Amelie Brogden Dir. Conferences, Events and Reservations Steph Barry Assist. Dir. of Conferences Tom Cook General Manager Laura Clark Nicole Succop Sales Manager Director of Sales
Stage, prep kitchen, tables and banquet chairs Lee Campbell included; custom layout and set-up of tables and Director of Meetings chairs; covered service entrance with elevators & Events
List is based on voluntary responses to a Business Journal survey. The Battleship North Carolina is not accepting public rentals for events at its facilities in 2021. *As of July 13, Aloft is not booking for events until at least October.
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: General Contractors • Restaurants
2007
1999
2011
Greater Wilmington Business Journal
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THE WILMA EXPO
2021
SATURDAY DECEMBER 4, 2021
HEALTH + WELLNESS
FAMILY + FOUR LEGGED FRIENDS
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WILMINGTON CONVENTION CENTER
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BUSINESS
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P R I Z E S / G I V E A W AY S LIVE PRODUCT DEMOS ARTISANS & MAKERS FOOD SAMPLING SHOPPING P I C T U R E S W I T H S A N TA LOCAL CONNECTIONS AND MORE VISIT WILMAEXPO.COM FOR MORE INFO
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| FROM THE COVER | 219 Station Road, Suite 202 Wilmington, NC 28405 (910) 343-8600 Fax: (910) 343-8660 wilmingtonbiz.com
BY THE NUMBERS
NCINO (NASDAQ: NCNO)
PUBLISHER Rob Kaiser rkaiser@wilmingtonbiz.com
JULY 14, 2020
IPO DATE
JULY 23, 2015
$6.11B
MARKET CAPITALIZATION
$2.67B
$64
SHARE PRICE
$61.86
$103.95
52-WK HIGH
$72.64
$48
52-WK LOW
$13.50
PRESIDENT Robert Preville rpreville@wilmingtonbiz.com EDITOR Vicky Janowski vjanowski@wilmingtonbiz.com ASSISTANT EDITOR Cece Nunn cnunn@wilmingtonbiz.com REPORTERS Johanna Cano jcano@wilmingtonbiz.com Christina Haley O’Neal chaley@wilmingtonbiz.com VICE PRESIDENT OF SALES Maggi Apel mapel@wilmingtonbiz.com SENIOR ACCOUNT EXECUTIVE Craig Snow csnow@wilmingtonbiz.com ACCOUNT EXECUTIVES Courtney Barden cbarden@wilmingtonbiz.com Sydney Pope KEN spope@wilmingtonbiz.com Marian Welsh mwelsh@wilmingtonbiz.com
LITTLE
OFFICE & AUDIENCE DEVELOPMENT MANAGER Sandy Johnson sjohnson@wilmingtonbiz.com CONTENT MARKETING COORDINATOR Morgan Mattox mmattox@wilmingtonbiz.com EVENTS DIRECTOR Elizabeth Stelzenmuller events@wilmingtonbiz.com CONTRIBUTING DESIGNER Suzi Drake art@wilmingtonbiz.com DESIGN/MEDIA COORDINATOR Molly Jacques production@wilmingtonbiz.com CONTRIBUTING WRITERS Jenny Callison, David Frederiksen, Kyle Hanlin, Jessica Maurer, Laura Moore FOUNDER Joy Allen SUBSCRIPTIONS To subscribe to the Greater Wilmington Business Journal, call (910) 343-8600 x201 or visit wilmingtonbiz.com. Subscriptions cost $9.95 per month or $95 per year. ADVERTISING For advertising information and rates, call (910) 343-8600 x204 © Copyright 2021 SAJ Media LLC
LIVE OAK BANCSHARES (NASDAQ: LOB)
Market figures current as of press deadline, July 12 From STOCK, page 1
It noted also there had been “substantial” insider selling in the past year, especially after the company’s lockdown period ended in January. These original investors – mainly institutional investors – sold nearly 6 million shares. There has been some recent share purchase by individuals who were original investors. Simply Wall Street also pointed out that nCino’s earnings are forecast to grow by an average of 13.1% per year for the next three years, although the company will remain unprofitable during that time. However, those analysts point out the company has sufficient cash for more than three years of operations, thanks to robust increases in revenues. Two Wells Fargo analysts, Charles Nabhan and Timothy Willi, began covering nCino in June with an equal weight rating – meaning they believe the company’s stock price will perform in line with or similarly to the benchmark index being used for comparison. “We view NCNO as on the forefront of digitization in financial services, and in particular, lending,” they wrote in early June. “Furthermore, we believe NCNO is in the early stages of pursuing a sizeable addressable market of $12B+ and is positioned to deliver predictable, multiyear growth of ~25%, as well as an eventual operating margin of 25-30%.” As reasons to invest in the stock, the pair cited nCino’s spending on solutions that drive revenue and improve profitability, its progress on sales execution and product development initiatives, its partnership with Salesforce and its large recurring revenue base. The analysts said that despite their favorable view of nCino’s outlook and industry backdrop, they are taking a “balanced approach” in their recommendations. They point-
ed to the company’s high valuation and “outperformance,” which could possibly be difficult to maintain. Sharing the Wells Fargo analysts’ optimism are analysts from five other firms. Over the past three months, according to Nasdaq research, those analysts have issued “strong buy” recommendations for nCino stock. Although it is still unprofitable, nCino continues to grow. It reported $204.3 million in revenues during its 2021 fiscal year that ended Jan. 31, 2021, touting growth of 39% between the first quarter and the fourth quarter of that year. Officials project revenues of between $63 million and $64 million for this current second quarter and expect total revenues of between $258 million and $260 million for this fiscal year as a whole. During the pandemic, nCino was heavily involved in government-assisted lending to businesses in the U.S. and the U.K., according to company spokesman Ryan Kelly. “We handled over a million applications and more than $100 billion in loans originated through the COVID government loan program, the Paycheck Protection Program (PPP), the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS),” he said. Kelly noted also that nCino’s client roster continues to expand with the addition of major banks in Canada, Germany and the U.K., as well as numerous financial institutions in the U.S. The company has broadened the offerings associated with its Bank Operating System and has added more than 300 people since its July 2020 IPO. The company now employs more than 1,200, most of whom work in Wilmington. Meanwhile, across town, Live Oak Bancshares has seen its stock price rise from just under $14 per share in early July 2020 to more than $60 this summer.
“LOB has outperformed the S&P 500 – and in a big way – since approximately September 2020,” said William Sackley, professor of finance at University of North Carolina Wilmington’s Cameron School of Business. Noting the very low per-share price of a year ago, Sackley added, “The 52-week price range for LOB is $13.27-$72.64, so you can see that it has experienced phenomenal growth – approximately 350% – during the past year.” Sackley compared Live Oak’s three-year annualized return of about 26% to that of 2.53% for banks on the S&P Banks Select Industry Index and that of 16.87% of companies on the S&P 500. While Live Oak’s return on assets and return on equity were “abysmal” for Q1 2020, Sackley said, those low rates (0.15% and 1.51%, respectively) rebounded, with the company reporting a return on assets of 1.2% and a return on equity of 18.05% for the same quarter in 2021. “Net income (in millions) shows a similar trend, with negative $7.6 for Q1 2020 and $39.43 for Q1 2021,” the professor noted. “LOB probably deserves the share price appreciation that it has achieved. Loan growth has been excellent, and the PPP loans were a welcome lagniappe. Also, and as has been similar at other well-managed banks, LOB was able to take a negative provision for loan losses during Q1 2021. This translates into saying that the negative impacts of the pandemic on the loan portfolio were not as high as once was expected.” Industry research supports Sackley’s view of the company and its prospects. Nasdaq reported that four analysts from prominent firms recently forecast 12-month price targets between $70 and $75 for Live Oak and maintained a “buy” recommendation.
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| IN PROFILE | Catching a wave of demand BY CHRISTINA HALEY O’NEAL
T
wo Wilmington-based manufacturers in the surfing industry continue to grow after co-locating under one roof. Paper Plane Surf Co., which makes surfboards and holds the new Hello.SURF brand, and Green Room Board Co., a manufacturer of surfboard composites, are sharing space in Dutch Square Industrial Park, a move the companies made about a year ago. Each business takes up about half of the 12,500-square-foot building off Windmill Way, said Cliff Ray, owner and founder of Paper Plane Surf Co., which is a sister company to his original water and ocean rescue boards business, P2P Rescue. The two companies agreed to share the space based on a need: Ray’s business had the extra space to fill in the Dutch Square building, and Green Room had outgrown its previous space in the complex. Green Room General Manager David Ray (not related to Cliff Ray) also said that the company had always wanted to share space with a surfboard manufacturer. The decision for Green Room to move was strategic for its growth. “We’ve always desired to have our production facility and our own in-house laboratory on-site with a board production facility because we use that technical data in every batch,” David Ray said. “So, we are constantly doing research and development. And because it goes hand-in-hand with what Hello.SURF and Cliff were doing, it was a good marriage.” Having Green Room in the building helps Hello.SURF save on costs to manufacture its line of intro-level surfboards, which come in eight different sizes, Cliff Ray said. Blank foam surfboards, made in the High Point area, are sent through a computer numerical control (CNC) machine where, using 3D models, a board is cut down to size. The foam board is then moved into a shaping room, sanded and shaped to model. Shaped boards are painted with a paint splatter design and then covered, or glassed, with resin made by Green Room. “Building surfboards for local surfshops helps to save on shipping costs, which equates to a better price for the customer. We’re also very
Hello.SURF
6508-A WINDMILL WAY, WILMINGTON
No. of employees: 2 Year founded: 2020 Top local official: Cliff Ray, founder and owner Company description: Hello. SURF builds intro-level funshape surfboards and longboards. Products made locally: Surfboard and longboards Product distribution: East Coast
PHOTO BY MICHAEL CLINE SPENCER
Surfing markets: Cliff Ray, owner of the Hello.SURF brand, and David Ray, general manager of Green Room Board Co., stand with products made at the Dutch Square facility the firms share.
proud to build using the local resources of Wilmington and also from across the state. All of our raw materials for building Hello.SURF are made in the USA,” Cliff Ray said. Cliff Ray created the Hello. SURF business to branch out into an increasingly lucrative recreational surfboard market, he said. “The whole thing was just a necessity during COVID, when it about shut down P2P Rescue,” he said. “We had all this stuff … and then that’s where we found the whole intro-to-surfboard market.” Cliff Ray this month hired a fulltime CNC machinist. He also has a full-time surfboard glassing employee to coat the boards. As the P2P business recovers, Cliff Ray aims to expand his surfboards business into more stores locally and on the East Coast. Hello. SURF boards are currently found at Sweetwater Surf Shop in Wrightsville Beach and CB Surf Shop in Carolina Beach. Both companies are also part contract manufacturers. Green Room hires Cliff Ray’s busi-
ness to shape its blank surfboards. Hello.SURF also plays a role in Green Room’s research and development. “When we get referrals and orders we just direct them to Cliff … I like to consider it a co-op than anything else,” David Ray said. Hello.SURF, however, is just one of Green Room’s many customers, David Ray said. Green Room distributes its resin – which it makes at the site in Wilmington – to other factories around the country and outside the United States, as well as the materials for companies to build their own surfboards. Green Room carries 50% of its resin business in the surfboard making market. For the other half, the company manufactures specific resin for other commercial and industrial uses, such as construction, aircraft and yacht building, skateboard manufacturing and furniture. In its old facility, the company was not able to produce the volumes necessary to do the various types of products.
GREEN ROOM BOARD CO.
6508-A WINDMILL WAY, WILMINGTON
No. of employees: 6 Year founded: 2005 Top local official: David Ray, general manager Company description: Surfboard composites manufacturing and distribution Products made locally: Surfboard blanks and epoxy resin Product distribution: Global EDITOR’S NOTE: To be considered for the Greater Wilmington Business Journal’s MADE feature, contact newsroom@wilmingtonbiz. com.
“Because we work with the product and have an in-house laboratory, we have the ability and are quite often asked to do custom blends that are specific … not just sell the surfboard resin for something else that that may not be specific,” David Ray said. “And that’s what has been a tremendous part of our growth over the last three or four years, is going outside of the surfboard world.”
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Greater Wilmington Business Journal
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| REAL ESTATE |
Affordable housing efforts progress L BY CECE NUNN ocal officials and others have taken some steps recently to address the Wilmington area’s affordable housing crisis. Recent news related to affordable housing includes an advisory group’s housing bond recommendation, a boost in funding for some city of Wilmington programs and some private dollars at work on retaining the current stock of lower-cost housing types. The City of Wilmington and New Hanover County Workforce Housing Advisory Committee has recommended that officials seek a housing bond referendum. Housing bonds are debt securities issued by governments to raise funds for the development of affordable housing. Many of North Carolina’s largest cities already have housing bonds. One of the most recent examples is an $80 million housing bond voters in Raleigh approved in November. Of that money, according to a Ra-
FILE PHOTO
Housing fix: Local rental homes in a portfolio purchased through social impact investing have been under repair.
leigh News & Observer article, $16 million is going to buy land for future affordable housing, $28 million for public-private partnerships, $24 mil-
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lion for gap financing, $6 million for first-time homebuyers and $6 million for the rehabilitation of homes. Members of the Wilmington City
Council and New Hanover County Board of Commissioners have had recent affordable housing discussions that included the idea of a $50 million housing bond. Officials have been open to the idea of a bond referendum, said Suzanne Rogers, community development and housing planner for the city and liaison to the housing committee. But county officials would have to vote on whether to move forward with a referendum that would need to be placed on the ballot of an upcoming election. The vote on going ahead with the bond referendum could happen in April or May, Rogers said. In the end, a housing bond “would ultimately be decided by the voting public,” she said. Noting the number of cities in the top 10 population-wise in the state (Wilmington is No. 8) that already have a housing bond, Rogers said, “Our peers have shown this to be an effective tool at meeting affordable
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| REAL ESTATE | housing needs.” One of the next steps for the housing committee will be to inform residents. “We’re going to be presenting to various groups around town to help them understand what the bond is,” said Paul Stavovy, a member of the committee, who is also executive director of Cape Fear Community Land Trust and runs a construction company. “We want to get ahead of it and start working at the grassroots level to explain why this is so important.” A housing study presented by the workforce and affordable housing committee this year showed that one in three households in the county pay more than 30% of their gross income for housing, and 46% of renters are doing the same. More than 41% of households in New Hanover earn less than 80% of the area median income of $65,100, according to the study. Affordable/workforce housing is being addressed through additional funding allocations. In the city of Wilmington, as an example, about $900,000 was added in its budget this fiscal year to the following two programs:
•The Homeownership Opportunity Program, which offers working families an opportunity to own a house without becoming cost burdened by lowering mortgage payments through down payment assistance and 0% interest rates; • The Rental Rehabilitation Incentive Loan Program, which provides loans of up to $125,000 for renovation, purchase or reconstruction on infill lots or rental housing units for affordable homes, essentially ensuring that housing stock remains available in the lower-income market. “We have more demand than we had funds available so we had folks who were applying and were prequalified for these programs, but we’d run out of money so that’s going to help us address that issue,” Rogers said. “There’s a big demand for housing that people can afford, and so these programs help with that. They’re not huge programs, but it will allow us to do maybe 15 more home ownership loans and eight more of the rental rehab loans.” The city’s budget included another $3.5 million assigned in its fund balance to respond to the housing committee’s recommendations. Through New Hanover County’s
budget and American Rescue Plan funding, the county will be creating a Workforce Rental Housing Assistance pilot project “to provide residents who qualify under workforce housing guidelines – 60 to 120% of area median income – with rental assistance,” according to a budget message from County Manager Chris Coudriet. The county has also proposed using $3 million of its $45.5 million in American Rescue Plan funds to “provide assistance to homeowners who are in arrears on mortgages because of impacts from COVID-19. This would be in addition to the $7 million Emergency Rental Assistance Program that is currently underway through the county.” A social impact nonprofit organization has included affordable housing in a mission that includes using private dollars. Cape Fear Collective announced earlier this year that it had created a social impact investment initiative, Collective Ventures, with the goal of attracting $10 million in investments in the first year. The organization used $1.8 million of a $2.5 million Live Oak Bank investment to buy a portfolio of 20
rental units to address affordable housing in the area, with 17 in New Hanover County – mostly in downtown Wilmington – and three in Pender County. Cape Fear Collective recently closed on its purchase of Driftwood, a 15-unit apartment complex off Princess Place Drive in Wilmington. Driftwood, a tax credit project developed 16 years ago to provide housing for chronically homeless residents, went up for sale in January and went under contract with CFC in March. The $1.2 million transaction was completed with the help of investment support from Live Oak Bank. “Their model of impact investing is something that we want to see succeed, and we’re really pleased to see the private sector investing in housing for people in our community who have kind of been left out,” Rogers said. While the area still has a long way to go, recent efforts are encouraging to those working on the issue of workforce and affordable housing. “The good news is that a solution or solutions for workforce housing are coming,” Rogers said. “I feel like it’s a new day.”
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Greater Wilmington Business Journal
| IN THE NEWS |
Officials weigh Cape Fear bridge’s future BY CHRISTINA HALEY O’NEAL
T
he idea that a toll bridge could replace the aging Cape Fear Memorial Bridge will be the topic of discussion at the next WMPO board meeting this month. The board of the Wilmington Urban Area Metropolitan Planning Organization has placed the topic on the agenda of its July 28 meeting, according to Mike Kozlosky, executive director of the WMPO. “This is a potential solution that has been submitted to the NCDOT that would fund the potential replacement of the Cape Fear Memorial Bridge. And so, what we’re being asked is ... is there a desire to move forward in further evaluating this proposal and potentially going to the next steps,” Kozlosky said earlier this month. N.C. Department of Transportation officials on June 30 approached the WMPO with an unsolicited proposal from a private company willing to fund, construct and manage a toll bridge that would replace the bridge. One of the next steps would be to get additional information about the project and data to make a decision down the road to see if this toll bridge option would be something area transportation officials might pursue, Kozlosky said. “NCDOT has made it very clear that they want this to be a local decision. And so NCDOT and the WMPO, if we decided to go down this path, would be walking hand in hand in this effort,” he said. “And I will say that this approach that they have taken on this unsolicited proposal is not dissimilar to other approaches that the department has taken with potential toll facilities and toll discussions.” The proposal from the unnamed firm is just an idea at this point, Chad Kimes, NCDOT’s Division 3 engineer, adding that the public would have a chance to weigh in on the idea should the WMPO decide to explore this option further. As of press time, NCDOT officials were scheduled to share information about the idea to New Hanover County commissioners during a July 13 meeting. Further details about the firm and the details of their unsolicited proposal are kept confidential due to state law on this form of private company project pitch, according to officials with NCDOT. Kimes also said that the toll concept was not new to the state; there
PHOTO BY MICHAEL CLINE SPENCER
On a toll: A private company has come up with a proposal to build and manage a toll bridge that would replace the Cape Fear Memorial Bridge.
are toll roads, but not all are formed through this type of private-public partnership. There is one toll road, however, in the state that has been built through a private-public partnership, the Interstate 77 toll road in Charlotte. But that project did not come through an unsolicited proposal. Wilmington Mayor Bill Saffo said he was concerned about how a toll bridge would affect the community. “As mayor of Wilmington, I would be remiss in not expressing serious concern with the proposal to replace the Cape Fear Memorial Bridge with a toll bridge,” he said in a release. “For more than 50 years, the Cape Fear Memorial Bridge has served as a vital connection between Wilmington and its neighbors. A toll bridge would impose a new expense on the tens of thousands of daily commuters who rely on this bridge, which has major implications for our region.” “We have to consider all the possibilities to fund the major projects in the Cape Fear region, especially as it pertains to the safety of our citizens, and we have to understand any and all funding sources that are available,” New Hanover County Board of Commissioners Chair Julia Olson-Boseman said in a statement. “I am eager to understand and learn more about the unsolicited proposal ... so we can make an informed decision on how to move forward. “Our projected growth and the lifespan of the Cape Fear Memorial Bridge demand our full attention to ensure we can accommodate the
growth in population while also attracting new businesses and the jobs they will bring,” she added. The proposal from the private firm would get the project funded and constructed sooner than going by traditional means of NCDOT project approvals and methods to secure funding, Kimes said. “The only option that we have is to continue to enter this bridge through our prioritization process,” Kimes said. “Based on the available amount of funding in our prioritization process and the anticipated amount of revenues, we do not see this project being funded in the next 10 years.” The proposal came to NCDOT in the fall of last year, officials said. The department has since been working through the proposal prior to presenting it to the WMPO. Under the proposed toll option, the private company would fund the project and operate the toll bridge for a 50-year period, while NCDOT would maintain ownership, officials said. The proposal calls for designing and building a 135-foot vertical fixed bridge (not a draw bridge like the current Cape Fear Memorial Bridge) that would run between Wilmington and Brunswick County over the Cape Fear River and would include three lanes in each direction and a walking path. Brunswick County commissioners also released statements in response to the proposal. “We recognize the pressing need to replace the Cape Fear Memorial Bridge. While more information is
still needed to make an informed position on the issue, my fellow board members and I have concerns and questions about the proposal based on what has been reported so far,” Chair Randy Thompson said in a news release. “We are mindful that adding any fee or tax to a service also adds an additional burden on the users, especially those who are on a fixed or low income. Both Brunswick and New Hanover counties, and the Cape Fear region at large, rely on this bridge to connect us to jobs, health care, businesses, and services. “The replacement bridge must improve – not impede – our connections to those places,” he said. This private company’s proposal is based on Option 2 in NCDOT’s Cape Fear Memorial Bridge feasibility study, which was completed in 2019. The study estimated the project cost at that time to be nearly $246 million. Kimes said that there was still much to be done in the process should the WMPO agree to move forward with exploring the toll bridge idea. “It would be expected that if it went to construction by fall of 2024, it would be built by 2030,” Kimes said. “But that will be part of the bid proposal, when are their timeframes? “We will continue to maintain that bridge. It’s just that our costs are going to continue to increase dramatically, after the next 10 years, on maintaining that structure,” he said. “More and more frequent repairs will need to be made on repairing that bridge.”
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| 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 June 14 - July 2
101 MANAGED LLC 4815 Whitner Drive Wilmington 28409 Agent: Robert Scott Chapman III 116 KEATON AVE. LLC 5617 Marsh Bay Dr. Wilmington 28409 Agent: Jennifer Burdette 1307 MACKEREL LANE TOWNHOMES OWNERS ASSOCIATION INC. 1307 Mackerel Lane Carolina Beach 28428 Agent: Dee Kirkbride 1508 MACKEREL LANE TOWNHOMES OWNERS ASSOCIATION INC. 499 Tibbys Drive Wilmington 28411 Agent: Kathryn P Long 1800MAESTRO CORP. 401 Brenda Dr Wilmington 28409 Agent: Drew Robert Fraser 1828 MIDDLE SOUND LOOP ROAD LLC 3819 Park Ave Wilmington 28403 Agent: Gm Entity Services Inc. 2 SISTERS HOLDINGS LLC 1377 Goldengrove Ln Wilmington 28411 Agent: Robert D Maners 24-7 QUALITY CONSTRUCTION LLC 3925 Carolina Beach Road Lot #14 Wilmington 28412 Agent: Osman E. Hernandez 42 & INK PRINTING CO. LLC 9192 Southview Ct Ne Leland 28451 Agent: Tiffany Monique Hertz 910 CONTENT LLC 2639 Broadbill Lane #A Wilmington 28409 Agent: Zachary Bennett A & A ARRIAGA
CONSTRUCTION LLC 2459 Adelaide Dr Bolivia 28422 Agent: Amilcar Arriaga Gonzales A & C TRUCKING & TRANSPORTATION LLC 903 S 13th St Wilmington 28401 Agent: Antoine D Snowten A & M TOBACCO & VAPE INC 5042 Market St Suite C Wilmington 28405 Agent: Abdulla Aldoghaish A & W WHOLESALE LLC 221 S Kerr Ave Wilmington 28403 Agent: Adham Ismail A-10 LOGISTICS LLC 314 Disney Drive Wilmington 28409 Agent: Christina Singleton Loyd ACE SUPERIOR TRUCKING LLC 1318 Wellington Ave Wilmington 28401 Agent: Lillian O’brien Barfield ACE’S ICE COMPANY 728 Bracken Fern Drive Wilmington 28405 Agent: Deborah Gail Oliver ACORN STREET REAL ESTATE LLC 575 Military Cutoff Road Suite 106 Wilmington 28405 Agent: Jillian C.S. Blanchard ADAM P. BROWN M.D. PLLC 2800 Ashton Drive Wilmington 28412 Agent: Adam P. Brown
448 Racine Drive Wilmington 28403 Agent: Ernest Ray Green Jr.
LLC 7512 Promontory Ct Wilmington 28412 Agent: Ashley Burghardt
ALL IS WELL 516 LLC 516 N Lord St Southport 28461 Agent: Curtis Gerald Frink
ATHLETIC AESTHETICS LLC 6810 Teviot Dr. Wilmington 28412 Agent: Brian A Glusovich
BRIAN M. FLEER REALTY INC. 1001 Military Cutoff Suite #101 Wilmington 28405 Agent: Brian Michael Fleer
ATLAS HOME SERVICES LLC 2418 Mill Dr NW Ash 28420 Agent: Ian Reid Anderson
BRIES VACATION RENTALS LLC 5810 Dekker Road Castle Hayne 28429 Agent: Jeff S Bries
B & E PARTNERSHIP L.L.C. 8505 East Oak Island Drive Suite #2 Oak Island 28465 Agent: Johnson & Moore P.A.
BRIGHTWATER NC LLC 204 Ottaway Court Hampstead 28443 Agent: Kyle James Kessler
ALLEN KARPINSKY LLC 119 Mcdouglad Dr Wilmington 28429 Agent: Allen Karpinsky ALLIGATOR MUNITIONS LLC 537 Vorils Ln Apt 101 Wilmington 28411 Agent: Marcus L Hands ALTERNATIVE LENDING OPPORTUNITIES LLC 1904 Eastwood Road Suite 310a Wilmington 28403 Agent: The Humphries Law Firm P.C. AMANDLAHOUSE INC. 4105 Breezewood Dr #201 Wilmington 28412 Agent: Johnathan Blue AMERICAN COASTAL DESIGN CO. LLC 54 S Lamplighters Walk Hampstead 28443 Agent: Nicholas John Banta AMH 1996 INC. 525 Moss Tree Drive Wilmington 28405 Agent: Anthony T Nash Cpa AMMON LLC 5240 Marina Club Dr. Wilmington 28409 Agent: Thomas Ammon O’Neill ANCHOR LAND INVESTMENTS LLC 8620 River Rd. Wilmington 28412 Agent: Michelle E. Carlisle ANYTHING EQUINE CONSTRUCTION LLC 105 Leeward Ln Hampstead 28443 Agent: Jacks David James Jr APJ CARPENTRY LLC 5140 Carolina Beach Road Trlr 241 Wilmington 28412 Agent: Alfredo Perez Gonzalez APPLIED ESPORTS LLC 6681 Carolina Beach Road Wilmington 28412 Agent: Ashley Earl Cribb
ADAMS LEGAL PC 801 Bedminister Lane Wilmington 28405 Agent: Matthew Adams
AQUABOUNTY TECHNOLOGIES INC. 3603 Webster Way Apt 1607 Wilmington 28412 Agent: Dennis Bryant
ADVANCED COUNSELING AND PLAY THERAPY PLLC 2225 Camellia Drive Wilmington 28403 Agent: Shawn Morton
ARROW TURBINE SERVICES INC. 1207 Verandah Way Wilmington 28411 Agent: Richard C. Albers
ALL HANDS ON LLC
ASHLEY B BURGHARDT
BANKS AND GRACE HOLDINGS LLC 1132 Canopy Way Wilmington 28409 Agent: Brian James Pate BANKS’ BEACH HOUSE LLC 506 Sandcastle Ct Wilmington 28403 Agent: David Cummings BEACH PROTEIN LLC 216 Crown Pointe Dr Hampstead 28443 Agent: Paul Jerri Stevenson BEYOND THE BAYOU LLC 1805 Olive Pine Way Leland 28451 Agent: Kenneth H Wright BLACKKEY REAL ESTATE LLC 1009 S. 7th St Wilmington 28401 Agent: Da’ron Eugene Jones Jr. BLUE CLAY BIKES LLC 6781 Parker Farm Drive Suite 210 Wilmington 28405 Agent: Lisa SalinesMondello BNW DANCE LLC 807 Colonial Drive Wilmington 28403 Agent: Brooklyne Nicole Williamson BOLUDO INC 3808 Willowick Park Dr Wilmington 28409 Agent: Rodrigo Alvarez BONILLA’S REMODELING LLC 9404 Walker St Ne Lot 4 Leland 28451 Agent: Katherine Beatriz Bonilla BOUNCE PLEASURE ISLAND L.L.C. 700 Monroe Ave Carolina Beach 28428 Agent: Robert Silliman BRADSHER INVESTMENTS INC. 210 North Carolina Avenue Wilmington 28405 Agent: William Bradsher BREED MANAGEMENT 146 Big Macedonia Rd
Supply 28462 Agent: Jerrel Metts
BUENO REYES CONCRETE & MORE LLC 4831 Castle Hayne Rd Trlr 37 Castle Hayne 28429 Agent: Juan Bueno Reyes BURGAW SUB SHOP LLC 508 Birmingham Ave Carolina Beach 28428 Agent: Jason Kesler C&G FAMILY TOWING INC. 1378 Penderlea Hwy Burgaw 28425 Agent: Carla Weatherington Suggs CAIN CONNECTIONS AND RECOVERY INC 3807 Wrightsville Ave Ste 21 Wilmington 28403 Agent: Patti Cain CALM INSTITUTE LLC 231 Bloomington Lane Wilmington 28411 Agent: Seth Boynton CAMRY CUTS LLC 805 Walnut Street Wilmington 28401 Agent: Collin Thomas Jackson CAPE FEAR CASH OFFER LLC 109 West Pointe Rd Rocky Point 28457 Agent: Jason Scott Velie CAPE FEAR FUNDRAISING LLC 10209 Mariners Cove Ct Belville 28451 Agent: Paige Amber Jackson CAPE FEAR INSPECTIONS NC LLC 3913 Sagewood Path Southport 28461 Agent: John Brian Baldwin CAPE FEAR SHARK COMPANY LLC 4907 Fish Factory Road SE Southport 28461 Agent: James Capps CAPE FEAR SPORTS ASSOCIATION 6305 Mossy Rock Ct Castle Hayne 28429 Agent: Duane Eastmond CAPITOL COMPLIANCE ASSOCIATES INC. 12 Jasmine Pl
Wrightsville Beach 28480 Agent: Joshua Myles CARDENAS FLOORING INSTALLATION LLC 3429 Drew Branch Ct Ash 28420 Agent: Rodrigo Cardenas CARDINAL & PINE REALTY CORPORATION 460 Avery Drive Apt. 3308 Wilmington 28411 Agent: Hayden Graham Sykes CAROLINA CLEANING SERVICES LLC 806 March Ct Apt H Wilmington 28405 Agent: Aneliese Bard Andrades CAROLINA CONSULTING AND SALES LLC 7130 Rock Fish Lane Apt.202 Leland 28451 Agent: Linda W Robinson CAROLINA RAIN WERX LLC 102 Havana Ct Winnabow 28479 Agent: Kenneth Thomas Robichaud CAROLINA TURTLE TRACKS LLC 201 Carolina Beach Ave S Unit 207 Carolina Beach 28428 Agent: Denise Meyer CAROLINAS COMMERCIAL LLC 889 Hickory Point Court Shallotte 28470 Agent: Kelly L Stuart CAROLINE JEAN PHOTOGRAPHY INC. 6015 Cedar Ridge Dr Wilmington 28405 Agent: Caroline Kemmerer CASTIFI INC. 316 S 16th St. Wilmington 28401 Agent: Tyler Woodell
Wilmington 28412 Agent: Jenny Gajewski CMJ LOGISTICS LLC 121 Heathcliff Rd Wilmington 28409 Agent: Clifton Dickens CMP CAREER SOLUTIONS LLC 2121 Wrightsville Avenue Wilmington 28403 Agent: Nasiba B AbdulGhani CO CREATIVE BY OLIVE LLC 3216 Camden Circle Wilmington 28403 Agent: Olivia Anne Pons COASTAL ADAS SOLUTIONS LLC 6101 A Market Street Wilmington 28405 Agent: Matthew Geyer Elam COASTAL BODY CONTOURING INC. 1050 North Shore Drive Southport 28461 Agent: Kay Raby COASTAL COMPASS HOME SOLUTIONS LLC 705 London Lane Hampstead 28443 Agent: Melissa Ann Brower COASTAL DETAILING LLC 220 Planters Ct Leland 28451 Agent: Justin Ryan Ventura COASTAL NC KWIK DRY LLC 1198 Grandeflora Dr Leland 28451 Agent: Mack Rawlings COASTAL SOFT WASH LLC 8015 Spring Peeper Ln Wilmington 28411 Agent: David B Jeltema COASTAL VIBES LLC 146 NE 4th Street Oak Island 28465 Agent: Bradley Carl Walton
COMPANY LLC 2111 Country Club Drive Hampstead 28443 Agent: Joshua Robert Cotten COUNSELORS’ COMPANION LLC 2710 S 17th Street Apt A Wilmington 28412 Agent: Kelsey SomelianaLauer CRAFTY COUNTS STUDIOS LLC 213 Yorkshire Lane Wilmington 28409 Agent: Jennifer McclainCounts CRITTER CRAZY GIRLS LLC 508 Village Road Ne Leland 28451 Agent: Hope Pittman CRUZ KELLY PROPERTIES LLC 3300 Amber Drive Wilmington 28409 Agent: Graham Sloane Kelly CSRE LLC 4128 S Lagoon Ct. Southport 28461 Agent: Claude Matar CULTIVATE WELLNESS PLLC 3907 Scots Pl E Wilmington 28412 Agent: Jillian N Tabak CUSTOM RETIREMENT INCOME STRATEGIES LLC 4086 Country Garden Ln Southport 28461 Agent: Bruce A Mcmanus D-FUELED MOTOR WORKS LLC 458 Mae Dr Hampstead 28443 Agent: Chris Horni DANIEL & DANIEL LOGISTICS LLC 138 S Colony Circle Wilmington 28409 Agent: Holly Tootoo Daniel
COLLEGE PRE-APP INC 199 Amberleigh Dr Apt 210 Wilmington 28411 Agent: John L Russo
DARIA AMATO PHOTOGRAPHER LLC 1008 Oyster Catcher Drive Hampstead 28443 Agent: Daria Amato
CC KENNELS LLC 5426 Ulloa Place Wilmington 28412 Agent: Rachel Maryyanek
COLMERICA EXPORTS LLC 603 N Dow Rd Carolina Beach 28428 Agent: Dora L Davis
DARROW’S VINTAGE DRUMS LLC 130 Dogwood Dr Wilmington 28403 Agent: Michael C Winfree
CIRCLE F FARMS LLC 4631 Main St Shallotte 28470 Agent: Tonia Trest Twigg
CONJET INC. 215 Loder Ave. Wilmington 28409 Agent: Stephen Sistrunk
CJ’S LAWN & HOME MAINTENANCE LLC 3 Pickett Dr Wilmington 28412 Agent: Christopher James Merkle
CONSOLIDATED MERCHANDISERS OF PENNSYLVANIA INC. 1114 Liliflora Lane Leland 28451 Agent: James Seethaler
DCL ENTERPRISES COMMERCIAL PROPERTY HOLDINGS LLC 20 Salisbury St West Wrightsville Beach 28480 Agent: Damon Lilly
CLEAN IMAGE INC. 100 Wyndham Way Wilmington 28411 Agent: Andy C Flores
COOPER’S CONDO LLC 201 Carolina Beach Avenue S Unit 106 Carolina Beach 28428 Agent: Christy C Teague
CAVALIER WOODS EAST HOMEOWNERS ASSOCIATION INC. 1420 Eastwood Road Wilmington 28403 Agent: Ned M. Barnes
CLEO COAST L.L.C. 1109 Matteo Drive #103
COTTEN CONSTRUCTION
DESPINA REALTY LLC 712 Country Club Dr Hampstead 28443 Agent: Kenneth Ording DIAZ CONSTRUCTION INC. 116 Hillsdale Dr Wilmington 28403 Agent: Manuel Nunez Diaz
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wilmingtonbiz.com
| BIZ LEADS | DOCKSTR 514 LLC 516 Dock St Wilmington 28401 Agent: Andrew Gillespie DOINGTHEGOODWORK LLC 1469 Branch Row Wilmington 28405 Agent: Dar J Mayweather DOLLFACE INK L.L.C. 304 Macmillan Ave N Wilmington 28403 Agent: Jessica Dixon DOWDA ELLIOTT CONSTRUCTION LLC 424 Sunset Blvd S Unit 1 Sunset Beach 28468 Agent: David Dowda DREAM WIDE WORLD LLC 7418 Cordoba Circle #201 Leland 28451 Agent: Rosalyn A. Gee DUMAS & DUMAS TRUCKING LLC 3738 Excalibur Way Apt.201 Wilmington 28403 Agent: Roxann Yvette Dumas
Wilmington 28405 Agent: Gary Mcsmith ELIZABETHTOWN SUB SHOP LLC 508 Birmingham Ave Carolina Beach 28428 Agent: Jason L Kesler ENGAGED EVENT SERVICES LLC 221 Southgate Dr Wilmington 28405 Agent: Alan Hansen ENVISION IT CONSULTING LLC 502 Steele Loop Wilmington 28411 Agent: Joanne Melburn Leuterio ESON LLC 4528 Exuma Ln Wilmington 28412 Agent: Lefter Klemo ESSENTIAL PAINT L.L.C. 110 Aaron Court Burgaw 28425 Agent: Nathan Cooper EUROS STEP LLC 316 Shepards Rd Hampstead 28443 Agent: Taylor Redd
DUNE PRESS & CO. LLC 7028 Wrightsville Ave Wilmington 28403 Agent: Annalee Thomasson
EVERY DAY CARRY L.L.C 4716 Black Pine Court Winnabow 28479 Agent: Rebecca Workiewicz
E DAWG LLC 1009 Anchors Bend Way Wilmington 28411 Agent: Erin Elizabeth Feisal
EXQUISITE CLEANING SERVICES LLC 721 Melba Ct Apt J Wilmington 28405 Agent: Tanya Yvette Williams
E-BOARD IFG LLC 5101 Dunlea Ct Ste 201c Wilmington 28405 Agent: Peter Fournier E.A ATLANTIC CONSTRUCTION LLC 145 Halyburton Memorial Pkwy Wilmington 28412 Agent: Edwin Edgardo Aplicano Paz
F&A PRODUCTS CORPORATION 1512 Black Chestnut Drive Wilmington 28405 Agent: Frank Pasquale F&M RESTORATION LLC 94 Railroad St Rocky Point 28457 Agent: Jose Miguel Chavez Tavares
EASTERN CAROLINA EPOXY SOLUTIONS INC. 2405 Scotts Hill Loop Rd Wilmington 28411 Agent: Amber Pentecost
FAB1111 LLC 4900 Randall Pkwy Unit A Wilmington 28403 Agent: Susan Walters
EASTERN FREIGHT TRANSPORT LLC 553 Palmer Drive Southport 28461 Agent: Jim A Sexton
FAIR ENOUGH LLC 1323 Bridge Barrier Rd Unit #36 Carolina Beach 28428 Agent: Bill Frank
EBJ INVESTMENTS LLC 1043 Bent Blade Lane Wilmington 28411 Agent: Edward W. Brock Jr.
FAMILY FIRST FLOORING LLC 3600 S College Rd Ste E Wilmington 28412 Agent: Daniel Teasley
ECODEPO INC. 117 Dolphin Street Holden Beach 28462 Agent: Todd Wender
FARLEY DRIVE STORAGE LLC 2016 Farley Dr. Wilmington 28405 Agent: Mark Byrge
EHMCLEW HOME RENTAL LLC 515a N. New River Drive Surf City 28445 Agent: Lee Charles Butler ELECTRIC AVENUE RENTALS LLC 901 Royal Bonnet Drive
FATHER & 2 SONS LANDSCAPING LLC 2382 Butler Ctr Nw Ash 28420 Agent: Ermelindo Perez Velasquez FEBRUARY INVESTMENTS
LLC 701 Princess St Wilmington 28401 Agent: H. Kenneth Stephens Ii FETCH PET CARE OF SOUTH EAST NC INC. 104 Coots Trail Hampstead 28443 Agent: John J Neu FISHER LANDING VILLAS POA INC. 1628 Doctors Circle Wilmington 28401 Agent: Randy Norris FLAWLESS2TOUCH LLC 756 Etta Lane NW Supply 28462 Agent: Latoya M Mitchell FLORES PROPERTY VENTURES LLC 1213 Culbreth Dr Wilmington 28405 Agent: Thomas W. Kerner FOUR SIXTY EIGHT LLC 4516 Still Meadow Dr Unit 106 Wilmington 28412 Agent: Heather L Drew FRUITION MAGAZINE LLP 50 Hillsdale Dr. Wilmington 28403 Agent: Megan Danielle Olivaria G & E COASTAL LLC 341 Milford Road Wilmington 28405 Agent: Eduardo Diego GA REMODELING LLC 301 Virginia Avenue Wilmington 28401 Agent: Carlos A. Alvarez Ochoa GEORGE A. ALSINA M.D. PLLC 2800 Ashton Drive Wilmington 28412 Agent: George A. Alsina GIFTED HANDZZ LLC 4712 New Centre Dr Wilmington 28405 Agent: Latoya Lanise Liles GLCOUNT LLC 7205 Wrightsville Ave Apt 407 Wilmington 28403 Agent: Brannon Council Lancaster Mr. GLCP RETAIL SERVICES LLC 5105 Gorham Ave Wilmington 28409 Agent: Benjamin Erichsen GLOW SMOKE DISPENSARY L.L.C 510 Taylor St Suite 206 Wilmington 28401 Agent: Michael Leverne Jennings GM PAINTING LLC 106 Oakcliff Drive Wilmington 28409 Agent: Julian Resendez GO JOJO GO INC 9138 Devaun Park Blvd Calabash 28467 Agent: Johnna Terragna GOOBER GROUP LLC
5101 Dunlea Ct Ste 201c Wilmington 28405 Agent: Tyler Rees
320 Friendly Shored Road Wilmington 28409 Agent: Mary Rudyk
GORES RENTALS LAWNCARE & TREE SERVICE LLC 2186 Freedom Star Dr Longwood 28452 Agent: Al D Gore
HEALTHSPERITY LLC 4262 Monaco Drive Leland 28451 Agent: Martina Devona Thomas
GREATER THAN THROUGH LOVE & SUPPORT LLC 5006 Carleton Dr Unit 41 Wilmington 28403 Agent: Lenwood S. Dean GREEN TREE ACADEMY LLC 529 Steele Loop Wilmington 28411 Agent: Sheri L Green GREENE’S NATURE CLEANING SERVICE LLC 405 Campbell Street Wilmington 28401 Agent: Belinda Greene GREENVILLE LOOP VENTURES LLC 300 Whisper Park Dr Wilmington 28411 Agent: Ladd Gasparovic GROW-BOT LLC 615 S 15th St Wilmington 28401 Agent: Kendra Michelle Burgon GUNNELL ASSOCATES INC 2442 Stone Chimney Rd Sw Supply 28462 Agent: Damien C Gunnell
HILLS LAND MANAGEMENT LLC 115 Laurel Dr Wilmington 28401 Agent: Zane Hill HOBOQUA LLC 3916 Oleander Drive Wilmington 28403 Agent: Renee Lynn Glasgo HOLISTIC BEAUTY LLC 2606 Bradfield Ct Wilmington 28411 Agent: Latasha Dion Bradford HOLLY NIEBERLINE REAL ESTATE LLC 2111 Barnett Ave Wilmington 28403 Agent: Holly Scott Nieberline HUTNIK CORPORATION 2069 Manor Parc Dr. Calabash 28467 Agent: David Christopher Hutnik ILM CONSTRUCTION LLC 2551 Anderson Rd Willard 28478 Agent: Juan Daniel Roblero Vazquez
H & S WORKS LLC 12641 Us Hwy 421 Burgaw 28425 Agent: Hector Sanchez
IRON ROOTS CUSTOMS LLC 102 Lunington Mill Circle Burgaw 28425 Agent: Nicholas Bradley Cosmano
HALL’S PLUMBING SERVICE LLC 229 Ne 42nd St Oak Island 28465 Agent: Jerry Wayne Hall
ISLAND BAGELS LLC 1213 Culbreth Drive Ste 448 Wilmington 28405 Agent: Shane T Johnson
HAMPSTEAD CAPALL LLC 3414 Wrightsville Ave Wilmington 28403 Agent: Robbie B. Parker
ISLAND BREEZE OF CB LLC 1628 Sound Watch Dr. Wilmington 28409 Agent: Jeremiah Barnett
HARGROVE ACCOMODATION II LLC 1650 Military Cutoff Road Suite 200 Wilmington 28403 Agent: Alan M Solana HARGROVE FAMILY HOLDINGS LLC 218 Braxlo Lane Wilmington 28409 Agent: James Thomas Hargrove HAVEN HALO SALT THERAPY AND WELLNESS LLC 58 Physicians Drive NW Supply 28462 Agent: Monique Smith Martin HAWKSONG INC 1126 Arboretum Dr Wilmington 28405 Agent: Narelle Woods HEALTH CARE IN PLACE PLLC
J DANIEL PIERCE PHOTOGRAPHY LLC 4421 Jaybird Cir Unit 204 Wilmington 28412 Agent: James Daniel Pierce JACANDA LLC 14 S 3rd St Wilmington 28401 Agent: Jacob Snead JACOBS ADVISORY INC. 7639 Masonboro Sound Road Wilmington 28409 Agent: Michael Jacobs JAMES FURMAN CONSTRUCTION LLC 6400 Carolina Beach Rd Wilmington 28412 Agent: James Furman JANE’S MIRACLE LLC 907 Cobia Lane Wilmington 28409
Agent: Susan K Hill JANKO WINEHART LLC 4801 Collegiate Dr Willmington 28403 Agent: James Harrison JBNC HOLDING LLC 5105 Gorham Ave Wilmington 28409 Agent: Benjamin Erichsen JC FINISH CARPENTRY LLC 4818 W Rye Lane Wilmington 28405 Agent: Julio Cesar Rojas Velasco JEFF SOX LLC 5595 Wood Duck Circle Wilmington 28409 Agent: Jeffrey Sox JENNIFER MASKELL PHOTOGRAPHY LLC 4704 Marshwood Dr Wilmington 28409-3989 Agent: Jennifer Lynn Maskell JESSICA ESTELLE LLC 979 Cheshire Rd Rocky Point 28457 Agent: Jessica Estelle Meshaw JH PROJECTS LLC 114 Westover Dr Leland 28451 Agent: Johnny Hernandez
KARTSPEED SOLUTIONS L.L.C. 536 Southampton Pl Belville 28451 Agent: David Smith KENANSVILLE SUB SHOP LLC 508 Birmingham Ave Carolina Beach 28428 Agent: Jason K Kesler KILAN RABON FARMS LLC 3406 Merchant Ct. Wilmington 28405 Agent: Jake Schaus KIROPENN INC 2210 Wrightsville Ave Ste 3c Wilmington 28403 Agent: Brent L Seaver Dc KNEW BETTER LLC 4411 Peachtree Avenue Wilmington 28403 Agent: Robert H. Orrell III KRISTIN ARONER REALTY INC. 122 NE 34th St Oak Island 28465 Agent: Kristin J Aroner KUHLBRAN COMMERCIAL REAL ESTATE INC. 7012 Cameron Trace Drive Wilmington 28411 Agent: J. David Branton
JKF HOLDINGS LLC 111 Shaes Landing Surf City 28445 Agent: Jason Hyde
LAR REAL ESTATE LLC 95 S. Lumina Ave 7J Wrightsville Beach 28480 Agent: Rene Bermudez
JM FLOORING LLC 302 Sussex Ct Wilmington 28411 Agent: Juan Manuel Gallardo
LAST CALL DETAILING LLC 131 W Luminous Way Hampstead 28443 Agent: Louis Montore
JOEY O’S SC LLC 2895 Robin Dr Shallotte 28470 Agent: Christine J Apruzzese
LAWN LIGHTNING L.L.C. 83 Northeast Drive Calabash 28467 Agent: Hunter Logan Mcquade
JOIN THE SHIFT LLC 166 Partridge Rd Wilmington 28412 Agent: Jessica Haven Jadlot
LAWNCARE LLC 108 Pondview Cir Hampstead 28443 Agent: Adam Nightingale
JONES LAND HOLDINGS II LLC 1600 Limpkin Ct Wilmington 28403 Agent: Burton W Jones JONESIN’ FOR IT SALTWATER ADVENTURES LLC 113 Over St Burgaw 28425 Agent: Forrest Tell Jones JP PRODUCTS INCORPORATED 6991 Beach Dr Sw Ocean Isle Beach 28469 Agent: Sunset Property Ventures Llc JWC2 LLC 114 Hooker Rd Wilmington 28403 Agent: P J Watkins KALABUR NC INC 825 Gull Point Road Wilmington 28405 Agent: Adam Burke
LEAD LOCAL STUDIOS LLC 4701 Wrightsville Ave Wilmington 28403 Agent: Charles Garrett Estes
LIVING HOPE ILM 4007 E Durant Ct Wilmington 28412 Agent: Christine C Perez LONGSHORE INSPECTIONS INC 521 Eden Drive Sw Supply 28462 Agent: Bryan Hughes LONO ONO LLC 1230 Big Field Drive Castle Hayne 28429 Agent: William Alexander Karratti LOW COUNTRY BUILDERS LLC 159 Golden Rd Wilmington 28409 Agent: John David Collins III LQ HAIR SALON AND BARBERSHOP LLC 1106 Echo Drive Leland 28451 Agent: Lisset Quinteros LUCKY CAT ACRES LLC 10142 Whispering Cove Ct SE Leland 28451 Agent: Jill Harrington LUKE’S FURNITURE COMPANY INC. 3871 US Hwy 421 N Unit C Wilmington 28401 Agent: Lucas A. Cole LUSH NAILS LLC 3546 Oleander Dr Wilmington 28403 Agent: Ngoc Huu Nguyen M & A SIDING CONSTRUCTION LLC 5140 Carolina Beach Road Lot 231 Wilmington 28412 Agent: Mario Hernandez M & M BISTRO LLC 5236 Minnesota Dr SE Southport 28461 Agent: Debra Kaye Borsuk M FORSYTHE PROPERTIES LLC 1401 Barouche Ct Wilmington 28412 Agent: Llissa Ann Klein M-ZONE LLC 1009 Ashland Way Leland 28451 Agent: Douglas Barbera
LEIGH CARTER PLLC 1010 Nutt Street Wilmington 28401 Agent: Elizabeth Leigh Carter
M5DD NEAL HAWKINS LLC 1029 Lake Park Blvd N Carolina Beach 28428 Agent: Geoff Kirby
LET FREEDOM CLEAN POWER WASHING LLC 7308 Champlain Dr Wilmington 28412 Agent: Briab Blocksidge
MACK MARVIN GROUP LLC 424 Racine Dr Apt 205 Wilmington 28403 Agent: Bernard McCai Jr.
LIMINAUT PICTURES LLC 1530 Landalee Drive Wilmington 28405 Agent: Russell Morris
MAMAISMS LLC 3495 Hanover Ave Castle Hayne 28429 Agent: Jane Elizabeth Chaucer
LINK ELECTRICAL SERVICES LLC 332 Monlandil Dr Wilmington 28403 Agent: Michael Evan Lambert
MANNKIND BREWING COMPANY LLC 1506 Spring Ct Leland 28451 Agent: Jeremy I Mann
Greater Wilmington Business Journal
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July 16 - August 5, 2021
Page 17
| ACHIEVERS | Send information about company hires, promotions or awards to editor@wilmingtonbiz.com
Mohr named Dosher’s chief nursing officer Dosher Memorial Hospital has welcomed CATHERINE MOHR as its new chief nursing officer. Mohr has more than 26 years of experience in academMohr ic medical centers and hospitals, officials said. She was previously the executive vice president/system chief nursing officer of the Guthrie Clinic in Sayre, Pennsylvania. Prior to that role, Mohr had served as the executive director of the Children’s Hospital at Providence Alaska Medical Center in Anchorage, Alaska, and as the director of nursing at Virginia Commonwealth University Health System for Women’s and Children’s Services and Radiology. Mohr earned her bachelor’s degree in nursing at the College of New Rochelle, her master’s degree at Duke University and her Doctor of Nursing Practice from American Sentinel University.
Wilmington Eye welcomes Erickson as CEO Wilmington Eye has named KATHY ERICKSON as CEO. Erickson has been with the practice for more than 14 years, officials said. She most recently served as the executive director and is serving as the Erickson practice’s first CEO. She joined Wilmington Eye in 2006 as the practice administrator. “Since then, Erickson has been instrumental in helping the practice grow to become the largest and most comprehensive ophthalmology group in the region, with 17 providers, 9 locations, more than 150 employees, and its very own surgery center, which is expected to open later this year,” officials said. Wilmington Eye is a locally owned ophthalmology practice with locations throughout eastern North Carolina. Erickson received a bachelor’s degree in chemical engineering from N.C. State University. Erickson earned an MBA from the University of North Carolina Wilmington.
Johnson joins Coldwell Banker Sea Coast EDIE JOHNSON has joined the Carolina Beach office of Coldwell Banker Sea Coast Advantage. Johnson has an understanding of property valuations, negotiations and transaction management. “Edie is an extremely detail-oriJohnson ented individual with an entrepreneurial mindset and superior communication skills,” Kimberly Sands, managing broker, said. “This makes her an asset to our company as well as all of the clients she assists.” Johnson has previously worked as a marketing director for an architectural firm specializing in high-end residential construction and custom homes. She is a graduate of the University of Arkansas.
Brunswick County welcomes deputy manager Brunswick County has hired HAYNES BRIGMAN as its new deputy county manager. Brigman joined the county in June, officials said. He brings more than 12 years of experience working on a local government leadership team. He previously served town manBrigman ager roles for the towns of Harrisburg, Pineville and Yanceyville. Brigman will have supervisory oversight for the engineering, planning, parks and recreation, library and code administration departments, as well as provide consultative supervision over elections. He will also oversee special projects and serve as the county’s liaison to the Brunswick County Tourism Development Authority. Brigman joins deputy county managers Steve Stone and David Stanley to support county operations alongside county manager Randell Woodruff. Brigman earned a bachelor’s degree from Appalachian State University. He is a graduate of the University of North Carolina at Chapel Hill School of Government’s Municipal and County Administration course and holds a certificate from the school’s economic development course.
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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.
Walk-On’s bistreaux holds grand opening celebration
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Walk-On’s Sports Bistreaux, the Baton Rouge, Louisiana-based restaurant chain co-owned by Brandon Landry, former walk-on basketball player at LSU, and former NFL quarterback Drew Brees, celebrated its grand opening July 5. “We’re thrilled to bring WalkOn’s to Wilmington,” said franchisee Jason Sadowski in a news release. “There’s nothing like our authentic Cajun cuisine in the area, so I’m confident that Walk-On’s will be a hit.” Sadowski also operates a location in Myrtle Beach and is expected to open his third Walk-On’s, in Charlotte, this fall. The newly constructed 7,500-square-foot restaurant in Wilmington, in front of Independence Mall, features more than 70 TVs, a large patio, a full bar and 45 beers on tap. The restaurant specializes in American and Cajun cuisine, such as hand-pattied burgers and buffalo chicken sandwiches, blackened redfish tacos, crawfish etouffee, duck and andouille gumbo and blackened gator and catfish.
Area establishments announce some closings The owners of at least three area establishments announced recently that they have made the difficult decision to close, citing staffing issues among their reasons. A recent Port City Java email announced that Port City Java at Barclay Commons, which opened at 2512 Independence Blvd.in 1997, was expected to close July 2. The email was sent to patrons of the coffee shop June 18 explaining the situation and providing a $10 credit good at any PCJ location, excluding the Barclay Commons location and university locations, through July 31. The email stated, “We have loved serving this area and are extremely proud of the coffee community you have helped us build here over the years. This was not a decision made lightly. As our lease expires we have been reflecting on the past year and planning for the future. In addition
to our lease end, the inevitable effects of COVID-19, and resulting staffing challenges, we felt it was wise to reassess our resources and find new ways to serve our community during this difficult time which so many businesses are experiencing.” In a message posted to Facebook on June 25, Eternal Sunshine Cafe announced that its Leland location at 117-G Village Road NE, which opened in August 2019, would be closing June 26 for staffing reasons.. Earlier this month, the owner of Niche Kitchen and Bar at 5954 Carolina Beach Road announced that it would be closing, saying in a message, “After 11 years and with much regret, Niche Kitchen and Bar has closed its doors. To all our loyal customers we thank you for supporting our restaurant over the years.”
Brick-and-mortar spot planned for Point Break Chef Ryan Trotter and local business owner and radio personality Jason “Foz” Fosdick plan to soon expand upon their Point Break meal delivery service by opening a brickand-mortar location at 7134 Market St. in Ogden. While Trotter, who has more than a decade of experience in the restaurant scene locally, had originally planned to open a brick-and-mortar location, the onset of the COVID-19 pandemic caused him to rethink his business plan. Given the circumstances, the partners decided to go for a meal subscription service and delivery model, working out of a ghost kitchen to prepare their meals designed for freshness, flavor and convenience. “I wanted to provide healthier takeout options,” Trotter told the GWBJ last fall. Point Break started out by offering family bundles as well as breakfast and lunchtime delivery services to area businesses. Now that they have built a customer base and the pandemic is waning, Trotter and Fosdick are ready to take their concept to the next level with a fast-casual model serving up their signature grilled chicken wings, salads and wraps. The new Ogden location, in front of Publix, will seat about 52 people inside, with another 12 to 16 seats outside. Cosmetic renovations are underway and a late summer opening is expected. – Jessica Maurer
Greater Wilmington Business Journal
wilmingtonbiz.com
July 16 - August 5, 2021
Page 19
| BUSINESS OF LIFE | New space reflects a new shade of Blue Surf BY LAURA MOORE
W
hen the owners of Blue Surf Café decided to expand to another location, they wanted it to reflect an evolution into a more full-service restaurant and an elevated experience. The result of those efforts – Blue Surf Arboretum West – envelops guests from the moment they open the door. Coastal comfort and relaxing ease are the obvious modus operandi of the restaurant. The cool blues and soothing whites provide an elegance to the space, but the atmosphere calls guests to take a deep breath and relax into the soothing feel. Colleen Kochanek and her business partner, Stephanie Norris, have owned Blue Surf Café on Racine Drive since 2013 and have enjoyed the “super casual and comfy space with a great vibe” but knew that they could have a greater reach for those who may want more than just counter service. Originally looking at building a new place downtown, Kochanek said that once Arboretum West developers Tribute Properties showed them the plans for the space, they decided to make it happen there. “It feels like a whole different world than Racine,” Kochanek said about the new location off Military Cutoff Road north of Mayfaire Town Center. “We’re so happy we did it. There are not very many places along here.” Officially opened July 6, the new restaurant is like the cool, more sophisticated older sibling to Blue Surf’s more informal college hangout near the University of North Carolina Wilmington. “We wanted a full bar and table service. We just wanted a more elevated experience from the cafe,” Kochanek said. “We wanted a bigger outdoor area since we love sitting outside.” The outdoors is the focal point of the restaurant. Inside seating for 85 guests easily connects to the large outdoor space, nearly 2,400 square feet, anchored by a behemoth fireplace to keep diners warm in the coldest months Using spaces in big cities like New York as inspiration, Kochanek channeled “the ingenious ways to make space bigger, and we wanted to do something like that.”
RESTAURANT ROUN DUP
PHOTO BY MICHAEL CLINE SPENCER
Soothing and savory: Colleen Kochanek, one of the owners of Blue Surf, said a new Blue Surf location at Arboretum West makes outdoor seating a focal point.
“Garage door” windows roll up to connect the indoor and outdoor bars and make the space flow seamlessly. Outside planters on casters allow for fluid changes of spaces for groups and meetings. The large scale of the fireplace centerpiece changed the necessary selections of televisions and furniture sizes to fit the space appropriately. Kochanek expects to serve regulars from their neighbors at the Arboretum West apartments and Arboretum Village townhomes, as well as guests from nearby Landfall and Middle Sound areas. “It’s going to be a fun crowd,” Kochanek said. Local artisans were employed as often as possible in the restaurant’s design. White concrete bar and tabletops with flecks of sea glass were crafted by a local designer, giving it both an urban and coastal vibe. Metalwork around the bar, including a hanging “cage” for liquor storage, continues that vibe. At night, the light catches the bottles through the metal meshwork above to create a spectrum of colors across the bar. “Wilmington is a tight community, in a way, and I want to support local business if I can because I am a local
business,” Kochanek said. Blue Surf Café’s longtime chef, Jon Webb, took the helm at Arboretum West. Webb has had his “core team from the cafe and a strong succession plan” to establish the new kitchen and allow the existing location to continue to run smoothly. The new menu includes a few cafe favorites, as well as some new selections that will continue to be finalized. “We’re still a work in progress,” Kochanek explained. “We have a great menu, but we may keep it on paper for a while to make sure we don’t have a dud on there and allow us to play with it a little bit.” The bar is set with Wes Miles as the head bartender who uses his N.C. State University chemistry degree and seven years’ experience in Los Angeles to create refreshing concoctions using fresh juices and syrups. Kochanek also was adamant that the new restaurant have a pastry chef, and her nameis Katie George. “I love dessert. I wanted to have a chocolate cake and not just any basic chocolate cake, and Katie made it happen,” Kochanek said. The process of opening a new restaurant during a pandemic has
been challenging, especially in regard to supply issues and delays, as well as staffing availability. “We have had staffing issues just like everybody else. We are in better shape with our servers and bartenders, but we need more kitchen help, so for now, we are going to dinner only for a week or so, and then hopefully, we’ll add lunch,” Kochanek said before the restaurant’s launch. “We need support staff around them [kitchen staff]. They work so hard and put so much effort in all the time, and then it’s tough when you can’t find people to relieve them.” Kitchen equipment and construction supplies were often difficult to obtain, making completing the restaurant challenging. Despite setbacks and delays, Kochanek is excited to share Blue Surf Arboretum West with Wilmington residents who crave a place to sit back, relax and have a good meal. “I think we found that sweet spot. It is a casual, coastal feel but a step up. It is hard to marry the two,” Kochanek said. “The price point is good; don’t expect $100 meals, but you can expect to have a really good meal and just have a really nice evening.”
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Greater Wilmington Business Journal
wilmingtonbiz.com
SAMM Properties announces two new developments
COMING SOON! - MORRISVILLE, NC- LELAND, NC-
F O R M O R E I N F O R M AT I O N A B O U T O U R F U T U R E PROJECTS, VISIT SAMMPROPERTIES.COM
STEVE ANDERSON Developer, SAMM Properties 910.616.0483 steve@sammproperties.com
PA R K E R A N D E R S O N Developer, SAMM Properties 910.200.6614 parker@sammproperties.comm
Bradley Creek Station NOW OPEN Angel Oak Home Loans Big Sky Design Big Sky Shop + Studio Crabby Chic First Carolina Bank Head to Toe | MED + SPA + SALON RE/MAX Executive Wilmington Reproductive Laboratories Wilmington Medical Supply SAMM Properties
BRADLEY CREEK STATION IS PROUD TO BE 100% OCCUPED!
SAMM Properties would like to recognize the companies that have put their trust in us, and we look forward to what 2021 will bring.
COMING SOON Forrest Firm Red Bank Wine S. Worsley Farm Bureau Sound Harbor Wealth Partners
SAMM Properties_21June.indd 2
6/14/21 10:59 AM
