Regional Report Triangle December 2013
Highwoods reacquires its taste for acquisitions
Highwoods Properties Inc. went on a diet to get fit but seems to have its appetite back. The Raleigh-based real-estate investment trust’s latest dish is nearly 500,000 square feet of office space in Cary that it’s building for MetLife Inc. The New York-based insurer will move its Global Technology & Operations center there once the two buildings are complete in early 2015. The $110 million project joins a number of high-dollar portfolio additions Highwoods has recently completed or is planning.
of a market. “I wouldn’t say it was revolutionary,” says Jed Reagan, an analyst with Green Street Advisors. “The aim is to do better in up cycles and do better in down cycles.” The move proved prescient.
PINEHURST — Donald Padgett II will retire as president and chief operating officer of Pinehurst Resort & Country Club in October. He joined the resort, which will host the USGA men’s and women’s U.S. Opens in June, in 2004 and will be succeeded by Executive Vice President Tom Pashley.
RALEIGH — WakeMed Health & Hospitals named Donald Gintzig interim CEO. He has been chief executive of several hospitals, including ones in Pennsylvania, Tennessee and Texas. He replaces Bill Atkinson, who stepped down in October after disagreeing with the board of directors over the health system’s direction.
MORRISVILLE — Teleflex will consolidate its Durham and Research Triangle Park operations in a new building here, adding 75 workers to its 442 in the region within three years and investing $20 million. The Limerick, Pa.-based company makes single-use medical devices such as central-venous catheters.
DUNN — New Century Bank will acquire Greenville-based Select Bank & Trust in an all-stock deal valued at $31.1 million. New Century now has 14 branches in central and eastern North Carolina and adds $265.3 million to its $555 million of assets.
RALEIGH — Salix Pharmaceuticals will acquire San Diego-based Santarus, which also makes drugs for gastrointestinal problems, for $2.6 billion to increase its dominance over the category. The deal is expected to close in the first quarter of 2014.
RESEARCH TRIANGLE PARK — RTI International sold its Center for Agricultural and Environmental Biosolutions to Philadelphia-based FMC for an undisclosed amount. FMC acquired the center, which conducts agricultural research, as part of its expansion into biological insecticides, herbicides and fungicides.