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The Briefcase: Cook Out affiliate purchases Clemmons restaurant site

The Briefcase: Cook Out affiliate purchases Clemmons restaurant site

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Cook Out affiliate buys Clemmons site

A real-estate arm of Cook Out Inc. has spent $1.81 million to purchase a 1.55-acre lot in Clemmons that has an Applebee’s restaurant on the site, according to a Forsyth County Register of Deeds filing Friday.

The site is at 6310 Allegacy Way. The sale closed Thursday.

The buyer is 2418 N. Main LLC, which has the same 15 Laura Lane, Suite 300, address as Cook Out’s corporate headquarters. The seller was Best Locations LLC of Raleigh.

Jeremy Reaves, an official with Cook Out, said that "the property was purchased as an investment property. It is leased long term to the existing operating restaurant."

Richard Craver

Project gains Guilford's approval

The Guilford County Board of Commissioners unanimously approved Thursday local incentives for DC Blox, a fast-growing information-technology company from Atlanta.

The company is requesting economic incentives from the High Point council and Guilford County Board of Commissioners for a potential $305 million multi-tenant project. The High Point council approved its package Oct. 7.

DC Blox has four data centers in the Southeast — Atlanta, Birmingham, Ala., Chattanooga, Tenn., and Huntsville, Ala. The company is expected to make a decision by the end of the year.

The High Point Economic Development Commission said DC Blox is considering placing operations at 4131 Sheraton Court in High Point. That site is a vacant 14.4-acre site in Piedmont Centre across the street from the Bank of America Corp. call center and near a Polo Ralph Lauren property and N.C. 68.

Loren Hill, president of the High Point economic group, said the initial job creation "will be minimal.” The council was told it would be nine jobs.

Hill said each government board "considered authorizing an incentive equivalent of up to 50% of property tax revenue paid by the company and its clients."

Richard Craver

Lexington medical property sells for $1.9M

A Winston-Salem group has spent $1.9 million for a 0.94-acre property in a Lexington medical campus, according to a Davidson County Register of Deeds filing Thursday.

The buyer is Azalea Prop Co. of Winston-Salem, while the seller is Asparagus Properties of Lexington.

The property at 110 W. Medical Park Drive features the Lexington Primary Care office of Novant Health Inc.

Richard Craver

SECU buys 5-story building in Greensboro

State Employees Credit Union has paid $4.25 million to purchase a 2.983-acre property at 2200-2202 Pinecroft Road in Greensboro, according to a Guilford County Register of Deeds filing Friday

The property features a 64,566-square-foot, five-story building that formerly served as a Bell South facility. It has 355 surface parking spaces, including 56 that are reserved.

The seller is Koury Corp.

"It is our intention to redesign the interior space and move our Greensboro contact center to this new location,"

said Jamie Applequist, SECU's chief administrative officer. "We are also exploring options that would enable the building to serve as a regional training center."

Richard Craver

Thomasville gains $150,000 for project

The N.C. Rural Infrastructure Authority said Thursday it has approved a grant request for an economic development project in Thomasville.

Thomasville received a $150,000 grant in the building reuse program toward the reuse of a 54,380-square-foot building, where Contaminant Control, Inc. plans to locate operations.

The company, which provides a range of environmental, abatement, remediation and demolition services, expects to create 30 jobs and invest $532,893 in this project.

Authority members review and approve funding requests from local communities. Funding comes from a variety of specialized grant and loan programs offered and managed by N.C. Commerce Department’s Rural Economic Development division.

Richard Craver

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