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Business Today NC

April 2017 Published monthly

YEARS

Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City

Page 2

CRUNCHING THE NUMBERS

NC jobless data reflects ongoing inmigration Page 6

Ladies’ leagues bring ‘green’ to golf industry BY CHRISTINA RITCHIE ROGERS Once excluded from the sport altogether and still prohibited at some golf clubs, women now are a key demographic in the business, which continues to see courses close nationwide. But attracting and retaining women to the sport continues to prove challenging, due in some part to the “gentleman only, ladies forbidden” stereotype (and acronym) that might resonate with non-golfers. “The golf business has always been trying to battle that stereotype–that it’s a sport for men, a sport for the elite,” said PGA golf professional Eric Keith, who worked at both Pinehurst and The Point (now Trump National) before leaving due to a back injury. “It’s every golf professional’s job to continue to battle that stereotype.” But the male-centered legacy isn’t the only barrier to women’s involvement in

the sport–many factors act as deterrents, Keith said, including the exhaustive, intimidating rules; high cost of equipment and memberships; and the significant amount of time needed to play even just one round. “The game was built and developed with as many walls as possible,” he said, and shifts in people’s lifestyles, our culture, and the economy have only increased the number of barriers. In order to survive, clubs need to find ways to break down those walls and get new people engaged in the game, he said. Women are a key demographic. Mooresville Golf Club Manager Luke Steimke believes the way to increase female involvement and thus increase club M​ichelle Wie ​qualified for a USGA​​amateur championship​at ​age 10

See GOLF page 18

UP YOUR SALES

Growth takes a highway: Sherrills Ford is the new frontier BY KATE STEVENS It’s really happening. A long-awaited mixed-use housing and retail development along the northwestern shore of Lake Norman in Catawba County is finally coming to fruition as construction of one of the project’s residential phases is now underway. The Village at Sherrills Ford, located at N.C. Highway 150 and Slanting Bridge Road, is a 206-acre development offering multi-family and single-family homes, an upscale grocery store and pedestrianfriendly retail center with shops and restau-

How to hire the best sales people ever Page 8

INVESTING

HOT PROPERTIES

Pages 20-21

Bull markets are born on pessimism Pages 22

18810 Halyard Pointe Lane in Cornelius sold for $2,425,000

rants along the Lake Norman waterfront. The development could change the quiet community’s way of life and its rural character. But county officials say the proposed development is a step forward in increasing the economic growth of Sherrills Ford and the neighboring suburb of Terrell, both valuable lakeside communities that have potential as Charlotte bedroom communities. Plans for the property have existed for at See SHERRILLS FORD page 10

RECORDS Transactions Cabarrus 15 Mecklenburg 15 Mooresville 15 Foreclosures Cabarrus 16

Mecklenburg 16 Mooresville 16 Corporations Cabarrus 16 Mecklenburg 16 Mooresville 16

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Business Today

2 April 2017

Beer is like yeast: Add it and business will rise

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Eleven Lakes Brewery is planning on a late April opening

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BY DAVE VIESER As more and more craft and microbreweries in the Golden Crescent expand, they’re attracting other businesses, creating jobs and economic success stories. Microbrewers and craft brewers are a target industry,” said Ryan McDaniels, CEO of Lake Norman Economic Development. “Our area is home to five craft brewers with additional production coming to the area in the next few years. Brewers are like yeast around tax base, jobs and visitor spending. And jobs: 10,000 in North Carolina at last count. April is North Carolina Beer month, the fifth year running. McDaniels said the state’s 200 craft breweries pump $1.2 billion into the economy annually. A decade ago, there were but two dozen statewide so the growth trend is obvious. For example, last fall in Cornelius, D9 Brewing Co., a craft microbrewery located in an industrial section of the town on Treynorth Drive, took over the entire 12,000 square-foot building where it was originally launched several years earlier. D9 had originally occupied only about two-thirds of the complex.

Critical mass

“We found ourselves literally boxed into a corner with existing production space, so we did what any other rea-

sonable brewery would do: we took over the whole building,” said D9’s Andrew Durstewitz. Ray Hutchinson and Jack Lippy are opening Eleven Lakes Brewery in 2,700 square feet of retail-industrial space in Hyde Park Storage Suites less than a mile away. Just down Bailey Road, and still within Cornelius, Ass Clown Brewery has established a regular following with a wide variety of craft brews. Meanwhile, in Concord, Twenty Six Acres Brewing just opened in 8,800 square feet in a business park near Concord Regional Airport. Their tap room is open Wednesday-Sunday, and in addition to the wide selection of brews, they attract many food trucks. On a recent Friday, the line-up included Mel’s BLT, MarlieQ’s Caribbean Queen, FireGrill, BBQ Time and Lobster Dogs.

Distribution caps may change

Twenty Six Acres is the third brewery to open in Concord, while Cornelius and Huntersville now have five microbreweries, including D-9 and Ass Clown. One thing all the breweries have in common: A desire to brew more beer without being tied to the current state distribution cap of 25,000 barrels. They may get their wish. New bi-partisan legislation, House Bill 500, Continued on page 3


Business Today

April 2017 Continued from page 2

MAY 18, 2017

STATESVILLE COUNTRY CLUB

Andrew Durstewitz of D-9 Brewery in Cornelius

has just been introduced which would raise that annual cap to 200,000 barrels before having to enter into a contract with a wholesale distributor. Sponsors include NC Rep. John Bradford of Cornelius. “The 25,000 barrel cap is an arbitrary number,” Bradford said. ”Currently only a handful of breweries are even close to the cap. Even still, the cap should be raised to allow them to selfdistribute. Economies of scale should be the business reason a craft brewery decides to hire a distributor and not an arbitrary level set by the State.” It may sound like a large amount of suds but some of the local breweries, such as Olde Mecklenburg Brewery in South Charlotte, are already near that amount. Since OMB opened in a former 8.5-acre factory eight years ago, over 35 more microbreweries have opened in the Charlotte area alone. Meanwhile OMB is looking to open a second brewery in the former MacLean Curtis Screw plant on Zion Avenue in Cornelius.

Beer wars

Local brewers are pushing hard to lift the 25,000 gallon cap, but there is opposition from groups such as the

North Carolina Beer and Wine Wholesalers Association. The association says lifting the cap could open the door for large national and international brewers to set up their own distribution networks, putting existing wholesalers out of business. Opponents of bills such as HB500 are a well financed lobby. According to Democracy North Carolina, they have made over $ 1.5 million in political contributions in the last four years. HB 500 was introduced on March 28 and is currently under review by the legislature’s ABC Committee. Two previous cap-lifting proposals are still in committee but HB500 is a bi-partisan, omnibus bill, a single document that packages together several measures into one. According to some legislative observers, it stands a better chance of approval. Expansion of the cap is crucial to some of the local brewers, including OMB. If the state legislature lifts the cap, OMB plans to spend as much as $7 million on the Cornelius expansion, hiring as many as 100 workers. Without a change in the cap, a smaller brewery is likely to be built and far less jobs created.

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On being recognized on the Barron's list of Top 1200 Advisors. This achievement exemplifies the commitment and dedication of all of our Financial Advisors.

The rankings are based on data provided by thousands of advisors. Factors included in the rankings were assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance isn't an explicit component

Twenty Six Acres Brewing’s new 8,800 square feet building

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC

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Business Today

4 April 2017

Concord looking for new airport director

March 9. Concord Aviation Director Rick Cloutier, who has run Concord Regional Airport since 2012, will take a position as assistant director of airports in Horry County, SC. He CLOUTIER will resign his position in Concord effective March 31. Notable during Cloutier’s tenure was the expansion of Allegiant Air here, as well as a new commercial service facility. City officials credited his leadership for helping grow the airport business over the past five years. Aviation Administration and Properties Manager Susan Green will serve as Interim Aviation Director. The search for a new Aviation Director will be completed in the coming months, the city said in a press release.

Barron’s 2017 Top Advisor Rankings 1. William Oliver

Wells Fargo Advisors, Charlotte

Three investment advisors make Barron’s national list

2. Larry Carroll

Carroll Financial Associates, Charlotte

3. Gregory Cash

Merrill Lynch - Private Banking & Investment Group, Charlotte

4. R. Mitchell Wickham,

Merrill Lynch - Private Banking & Investment Group, Charlotte

5. Stephen Thomas

Linden Thomas & Co. / Wells FiNet, Charlotte

6. Christopher Davis

Wells Fargo Advisors, Davidson

7. Patrick Rush,

Triad Financial Advisors, Greensboro

CARBONE

DAVIS

Three investment advisors in the Golden Crescent region of North Carolina were recently named ​to​the Top

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Contorno lands national award David Contorno, founder and president of Lake Norman Benefits, received the 2017 Leadership Award at BRYAN ASCEND, the annual conference of The Association for Insurance Leadership (AIL).

Bryan launches TruBlue

John Bryan​has launch​ed TruBlue of Lake Norman, a concierge service for a variety of home needs. A veteran landscaper, the new business, a franchise, ​specialBRYAN izes in providing handyman services, maid and cleaning services, lawn care, emergency repairs​and​home watch program​s, among others. ​


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See why Cobblestone Manor is one of Huntersville’s fastest selling communities. Hurry for first pick of beautiful, newly released homesites. Select from a variety of plans or pick a ready-now home for fast move in. This charming neighborhood of just 89 total homes is tucked away in the perfect spot for easy access to Lake Norman, Birkdale Village and more. From I-77, take Exit 23 west on Gilead Road. Go a little over one mile and turn right on Ranson Road. Cobblestone Manor is a half mile on your left.

Discover beautiful new homes in an intimate neighborhood with sidewalks, streetlamps and walking trails – all in a tranquil setting overlooking a quiet Lake Norman cove. Trillium features easy access to dining, shopping, parks, boating, fishing, entertainment and excellent Iredell-Statesville schools. Plus, you’re just a short drive from historic downtown Mooresville. From I-77 take Exit 36 west on Hwy. 150. Go one mile and turn right on Ervin Road (between Sam’s Club and QuickTrip). Trillium is one mile on your left.

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Business Today

6 April 2017

Cabarrus County

NC jobless rate is above US, but for a good reason slightly higher than the national average. The U.S. rate for February was 4.7 percent, almost a half point lower than the state’s. “The last couple years, we’ve been in and around the national rate,” said Connaughton.”

People are coming here

BY JOE HABINA Gary Mason has one of those jobs where he most likely doesn’t want to see you in his office day after day. As the Center Leader of the N.C. Works Career Center in Cabarrus, it’s his job to make sure his staff is doing their job which

is helping the unemployed find jobs. “I actually said to (a client) one day, ‘I’ve seen you three days in a row, I don’t want to see you again,” said Mason, tongue-incheek. “How can we get you a job? We put our heads together and create a team to make sure someone’s successful.”

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According to the North Carolina Department of Commerce’s recently released Labor Market Conditions report, the state’s unemployment rate for February, the most current statistic available, was 5.1 percent. That’s 0.2 percent lower than it was in January, indicating that all of the big-picture factors that determine unemployment rates, are making a positive impact. February’s rate is the lowest the state’s rate has been since last fall. Last February, the percentage stood at 5.2. Economists believe that an unemployment rate that flattens out around 5.0 is just about full employment and signifies a healthy economy. “As it approaches that level, labor markets start to tighten up and people feel more secure in their jobs,” said Dr. John Connaughton, an economics professor at UNC Charlotte. “They realize they can move from one job to the next because there are probably more openings than there are applicants.” For much of the last 12 months, North Carolina’s unemployment rate has been

Tourism: A growth industry

Statewide, the industries which showed the most growth were Leisure & Hospitality, Education & Health Services, and ProContinued on page 7

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The national rate might be a little lower than North Carolina’s, but it’s because we are a net-immigration state. “As a result, we have a constantly expanding labor force. Our economy has to grow not just to reduce the unemployment rate for the people that are here but also to accommodate the new immigrants.” Dr. Harry Davis, economist for the N.C. Bankers Association at Appalachian State University, agrees that the state’s unemployment rate is not problematic. Citing trends back to the last decade, Davis suggest that North Carolina’s progress compares favorably to the country and the region. “Since the Great Recession, the North Carolina growth has been greater than the national level or other states in the southeast,” said Davis. “Our employment growth in North Carolina has exceeded 2 percent where the national level has been 1.9. In the southeast it has been about 1.7 percent. Our record of creating new, nonfarm jobs has exceeded the national level and the southeast.” According to the Labor Market Conditions report, seasonally adjusted Total Nonfarm industry employment in North Carolina increased by 9,100 workers (0.2%) from January to February. Private sector employment improved by 8,200 workers (0.2%) during the same period.

6/18/15 11:11 AM


Business Today

April 2017

7

Cabarrus County

Klear Optix eyes growth in Kannapolis Klear Optix, a med-tech startup, has leased 500 square feet of lab and office space in the David H. Murdock Core Laboratory Building at the NC Research Campus. Launched two months ago by Concord resident Ramazan Benrashid,

Klear is involved in developing “smart” contact lenses. One project for Klear is “scaling up” a material so that it can pass FDA requirements and then move from research and development to manufacturing. Klear is also developing a new

material with higher oxygen permeability that will be the future generation of rigid contact lenses. Benrashid has considerable experience in developing materials for opto-electronic applications, coating biocompatible polymers and contact lenses. Benrashid and his partner Ali

Dahi say they hope to expand into adjacent laboratory space in the next year to accommodate additional testing and development. Dahi is a co-founder of California-based Synergeyes, a company that develops and manufactures hybrid contact lens for stigmatism, presbyopia and irregular cornea conditions.

Rebranding Cabarrus: Helping recruit workers St. Louis, Mo.-based Avant Marketing has been hired to help rebrand Cabarrus County. The overall $70,000 project kicks off with a focus group for residents April 11. One of the key goals in the rebranding is assisting with the recruitment of today’s workforce.

The core of the branding process is an investment in researching the perceptions of the community. Goals for the campaign include projecting the strategic vision of the county government, developing recognition among residents, attracting new residents and busi-

nesses, engaging employees and aiding with the recruitment of the county’s workforce. The project will also rely on the County’s mission statement, goals and objectives, adopted strategic initiatives, and scientific community surveys.

Continued from page 6

fessional & Business Services. In a report of county-by-county unemployment figures released by the Commerce Department last month (March) Cabarrus County’s unemployment rate in January was 4.9, an increase from its 4.4 rate in December.

The January rate ranked Cabarrus in a tie for 10th best in the state. Of Cabarrus’ neighboring counties, Mecklenburg was next on the list at 5.1 percent, which placed it 17th. The same report indicated there were 5,025 unemployed residents of Cabarrus County in January. Mason

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center monthly and approximately 300 are first time users. “We want to let our customers know that not only are you looking for jobs,” said Mason. “… But that employers are looking for talent. That’s where we kind of mesh the two together.”

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Business Today

8 April 2017

Growth S trategies

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terested so they never applied. 1. Identify the Role Uniquely Every job in the workplace requires particular knowledge, skills, abilities, and other characteristics (often referred to as KSAO’s). “Sales” employees work in expansively different types of workplace environments, using a wide variety of structured processes, carrying out distinct essential and ancillary duties,

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to sell innumerable products environment(s) the job takes and services. It is ineffective to place in, the tools or equipment use one core job description that will be used, and so on. This for multiple types of sales posicreates a more accurate picture tions. for you-and the job candidates2. Be Accurate and Comof what KSAO’s you seek, the plete kinds of essential duties the job Creating a job description will have responsibility for, and for a Sales Professional poses how this role fits into the rest of a more challenging task than your organization. perhaps writing a one for a job 6. Build on Others’ ExperSales Coach that is easily observed and has tise CHERYL KANE limited, well-defined precise Sound too hard to do? You requirements-such as a movie can start by delving into job theatre ticket taker. Sales Professionals can description terms and components in probe seen selling-but you can’t see the cogni- fessionally developed sources such as the tive processes or all the skill and decisions O*NET OnLine web site from the U.S. Dethat must go into it-you see primarily only the partment of Labor (https://www.onetcenter. physical action and the resulting sales num- org), or the Bureau of Labor Statistics (www. bers. And Sales Professionals’ required agility bls.gov). You can hire human resource manin adapting to continually changing custom- agement experts who specialize in job analyers’ needs, working autonomously, and creat- sis and talent management development. ing many of their own efficient processes can 7. Start Now be critical in the success of the role but can be Most importantly, stop using benign, inmissing in the job description. complete, or outdated job descriptions if you 3. Attract Transferable Skills want to attract the best quality Sales ProfesA highly talented Sales Professional’s skills sional talent to your organization. Make the may be reliably transferable from one job to job sound attractive, interesting, and as imanother if you-and they-can have a clear as- portant as it is. If you know what you-and the sessment of the job. For instance, individuals candidate-seek, you (both) are far more likely can have deep passions they’ve built knowl- to find it. “It” can be defined here as sales sucedge in through avocations or hobbies which cess. have never had an outlet in their sales career to date. And you may not initially think so, Cheryl Kane, MBA, is a strategic busibut experience selling tree-care (arborist) ness consultant, sales trainer, and proservices, aluminum fabrication, auto insur- fessional speaker specializing in service ance, high fashion retail, auto after-market quality. If you have a question you would equipment, entertainment, large equipment, like to see answered in this column, Cheryl pharmaceutical and so on, may seem un- welcomes your communication at 704reasonably unrelated to consider, but an ac- 595-7188 or through her web site, www. curate, comprehensive job description may cherylkane.net. attract the best candidate by showing them how their skills fit. 4. Prioritize Requirements Be clear of what is required and what may be conditional in a job. Allowing for updated continuing education by saying a specific experience is ‘preferred’ rather than ‘required’ allows professionals with otherwise essential skills and experiences to adapt nicely into new sales arenas. Not allowing this could keep you hunting for the next-best but less qualified candidate. 5. Start at the Beginning So what to do? Invest the time it takes to accurately analyze what the job requires then define from this information the specific requirements, desired requirements, the

Have you hired the ‘perfect fit’ for the job you posted but soon they were not successful in the role? Maybe it’s the way the job is being described.


Business Today

10 April 2017

SHERRILLS FORD

from page 1

least a decade as construction for a similar project named Village Center was slowed then halted during the recession of 2008 leaving residents wondering if they would ever have a grocery store in town. “People are so anxious to see something really happen,” said Catawba County Commissioner Kitty W. Barnes, explaining that local residents, including herBARNES self, must drive to Denver or Mooresville to purchase groceries. Real estate developer Dale Morrow, of Morrow Development Group, the company managing the Village at Sherrills Ford, said he can put rumors about the project to rest. “It’s really going to happen,” said Morrow during a telephone interview in March. Morrow said the project will exceed $100 million in tax value and MORROW could be much higher if the development is as successful as Birkdale Village in Huntersville. And Morrow says such success is a real possibility. “We have enough room to do a very nice project similar to Birkdale,” Morrow said. According to county documents filed with the Catawba County Register of Deeds, The Village at Sherrills Ford LLC purchased the project’s property in late 2014 from Crescent Communities LLC and Carolina Centers LLC.

Crescent Communities was previously known as Crescent Resources LLC, the real estate arm of Duke Energy, and had filed for Chapter 11 bankruptcy in 2009 to emerge with a new name one year later. Morrow manages the development project in coordination with principal Keith Hawthorne of KLH Acquisition Co. LLC. Changes were made to the project’s initial site plan, including rezoning and density adjustments, and the amendments were approved in 2015 by the Catawba County Board of Commissioners upon the recommendation of the county planning board. Approximately 32 homes are currently under construction in the community’s Bridgewater subdivision, said Morrow. D.R. Horton Homes is heading the construction of the 167 single-family homes at the development, Morrow said. The homes, ranging in price from $225,000-$325,000, should be completed within three years, Morrow said. As many as eight homes have already sold, he said. The construction of at least 100 singlefamily homes or town homes by a separate builder is expected to begin later this year, Morrow said. Apartment construction for 450 multifamily units should begin within 12-18 months of the development’s Publix supermarket beginning construction, Morrow said. Publix officials told Morrow they would start grading the construction site in April, Morrow said. Jacky Eubanks, Catawba County planning and parks director, said he had not

yet seen plans for other retailers coming to the development as of late March. A medical office park is expected to be built this year, and although the idea of including space for a YMCA had been placed in conceptual plans, Morrow said the organization has no current interest in the Village at Sherrills Ford. As part of the mixed-use project, the Village at Sherrills Ford LLC will pay $500,000 towards the development of the proposed creation of Mountain Creek Park, a 589-acre tract of land just off Little Mountain Road in the Sherrills Ford community. The park was created through a public-private partnership with Catawba County, the Catawba Lands Conservancy, Duke Energy and Crescent Resources, according to county officials. These monies have already helped pay for a conceptual design plan to be completed by Wirth & Associates of Charlotte later this spring, Eubanks said. The park will offer amenities including hiking trails, biking trails and water activities on Lake Norman, Eubanks said. “There are a lot of positive things that will come with the creation of Mountain Creek Park,” Barnes said. The county has worked hard to bring such a development to Sherrills Ford to increase economic growth of this portion of Catawba County, said Eubanks. Nearly two decades ago, the county began water and sewer infrastructure improvements in the hopes of attracting housing developments, Barnes and Eubanks said. The area of Sherrills Ford and N.C. Highway TIMBERLAKE 150 is viewed as a “future commercial hub,” said Chris Timberlake, a senior planner with Catawba County. U.S. Census data has shown this area of Catawba County as one of the fastest growing areas of the county, Timberlake said, “mainly because of the proximity to Mooresville and Charlotte and obviously because of the recreational opporJENNINGS tunities of the lake.” “We are going to be a magnet for people for many years to come,” said Abigail Jennings, president of Lake Norman

Realty. The Village at Sherrills Ford will finally bring retailers and economic development to residents in Terrell and nearby communities, officials said. “They really will benefit in the future by having retail opportunities closer to home,” Timberlake said. For now, Terrell residents must spend their money in Iredell County for food and other retail items, said Barnes. “People are kind of fed up with that,” Barnes said. County officials also hope to attract younger workers and families who might take advantage of the area’s close location to Charlotte, one of the fastestgrowing cities in the state. EUBANKS From the intersection of N.C. Highways 150 and 16, “we can see the shadows of the downtown Charlotte skyline,” Eubanks said. According to statistics released by the University of North Carolina at Chapel Hill’s Carolina Population Center, Charlotte and Raleigh accounted for 27 percent of the state’s population growth between 2010-2015. Change to the rural area of Sherrills Ford has already come as traffic continues to increase along Interstate 77 and Iredell County commuters travel across Lake Norman to take N.C. Highway 16 to Charlotte, said Barnes. Some have questioned the sense of building high-density subdivisions in the area when a four-lane highway improvement project is a decade away, but the state won’t build new roads unless there are more people to travel on it, Eubanks said. The planned expansion of the twolaned N.C. Highway 150 to four lanes won’t even begin in Catawba County until 2025 or 2030, but once it is increased to four lanes, it should be able to handle the increased growth, Eubanks said. QUOTABLE

“It’s really going to happen. We have enough room to do a very nice project similar to Birkdale” —Dale Morrow, Morrow Development Group


12 April 2017

Fitch upgrades Concord bonds

March 30. Fitch Ratings has upgraded the City of Concord’s Issuer Default Rating (IDR) to AAA from AA+. The City’s limited obligation bond rating was also raised, from AA to AA+. Fitch said the city has demonstrated “strong budget management through the recent economic recovery.” Concord City Manager Brian Hiatt said the upgrades will save taxpayers’ money when issuing General Fund debt, as higher ratings generally lead to lower interest rates. At the same time, it reflects the conservative debt issuance practices our elected officials have adopted over the years to provide for the flexibility noted in the Fitch report. The City will continue to follow its policy of keeping debt levels low and analyzing the use of debt versus pay-as-you-go for capital investments.

Catawba College, NCRC partner on new database March 13. Catawba College Information Systems class is creating a searchable database to help the North Carolina Research Campus and the scientists at its eight university research centers target their business development efforts to companies in need of nutrition research. The students, all from Catawba’s Ketner School of Business, will spend their spring semester on the task. They are enrolled in Dr. Pamela Thompson’s Information Systems Planning and Project Management class, and will work in tandem with NCRC’s Business Development Director Chris Ervin as they develop the database and dashboard. When the first phase of the project is completed at the end of April, it will provide those on the Kannapolis campus with a deeper understanding of the nutrition research landscape and the companies that are in the space that may be interested in partnering with the scientists located on the NCRC. Based on Catawba students output, NCRC will build and refine their marketing plan to drive research dollars and product commercialization.

NEWS - e

NCDOT didn’t know about consultant’s work with Cintra on Texas highway

April 5. By Dave Vieser. The North Carolina Department of Transportation was unaware that a consulting firm hired to do an “in-depth, outside review” of the $654 million I-77 toll lane contract was part of a Cintra highway construction team in Texas. Back in 2004, Philadelphia-based Mercator Advisors was hired to develop the first phase of the Trans-Texas Corridor. The TTC was initially proposed in 2001 and after considerable controversy was discontinued by 2010 in the planning and early construction stages. NC Transportation Secretary Jim Trogdon announced last week that the NCDOT would hire Mercator to review the I-77 toll lane contract at a cost of $100,000. “Prior to their selection, our officials were not aware of Mercator’s association with Cintra back in 2004,” said NCDOT spokeswoman Nicole Meister. “However, even if we did know, it’s unclear whether a different choice would have been made, given the degree of specialty required for this review.” Meister said the NCDOT only looked at more recent work done by Mercator, which has not been involved in the 50year contract between Cintra and NCDOT. Still, some local officials are now having second thoughts about their selection. “On the one hand, they have industry experience and are therefore a qualified choice,” said Kurt Naas from the Widen I-77 group. “However, their core business

is advising on large infrastructure projects. Consider the consequences for the firm if they produced a negative report. Nothing against them personally, but an independent analysis should be just that—completely independent.” Cornelius Commissioner Dr. Mike Miltich agrees. “It does raise the question: ‘Does it pass the smell test?’ To do a clean review, I’d urge the governor to reselect a different firm.” The NCDOT stands by its choice of Mercator. “They had a very limited piece of work with Cintra,” Meister said. “Furthermore, the project Mercator was involved with never moved forward.” Meister said there aren’t many firms such as Mercator. “This is an extremely specialized expertise which the DOT needed to review the detailed contract.” John Hettwer, a former chairman of the Lake Norman Chamber, chairs the I77 Business Plan Group. He says he will wait and see what happens. “I remain cautiously optimistic. DOT Secretary Trogdon had told us this study would be done by an independent group and I would at this point like to take him at his word.” The toll lane project will add two express lanes in each direction between uptown Charlotte and Exit 28, then one express lane up to Exit 36 in Mooresville. The existing high-occupancy vehicle lanes on the southern part of the project will also be converted to express lanes. The contract review is expected to be completed by the end of the summer.

Business Today

Aquesta grows outside of NC

March 30. Aquesta Bank has hired a market president for Greenville, SC where the Cornelius-based financial company will expand with commercial and retail lenders and a branch. Russ Williams has joined Aquesta Bank as the new Greenville market president. He has spent almost 32 years in banking and has a record in community bank leadership, relationship management, loan production, and credit administration. He joins Aquesta from United Community Bank in Greenville where he has served the last year as senior vice president, commercial relationship manager. Before that he was president/CEO of BankGreenville, a de novo community bank he co-founded. Aquesta CEO Jim Engel said Williams has a “solid banking background,” and, as a Greenville resident, he knows the community. Williams will be responsible for hiring commercial lenders, retail banking personnel, and locating space for the first Aquesta branch in South Carolina. BankGreenville was sold to HomeTrust Bank in 2013 where Williams served as senior vice president and market president until late 2015. Williams has served in board leadership positions with numerous local organizations as well as the SC Bankers Association. Aquesta Bank is a locally owned community bank providing full-service banking with a focus on small- to mediumsized businesses and professionals. Aquesta has seven full-service banking locations. Aquesta Insurance Services is a wholly owned subsidiary. Aquesta Financial Holdings Inc. common stock is publicly traded and is quoted on OTC under the symbol “AQFH”.


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14 April 2017

NEWS - e

Flexing muscle around​​transit, N. Meck towns say CATS is off-track March 24. ​Should ​the ​Charlotte Area Transportation System​spend $2.3 million to study​a new commuter rail line between Charlotte and Lake Norman? ​No way, says Huntersville Mayor John Aneralla. He, along with his town board, have come out solidly against the notion of yet another new rail line, possibly well east of the Hwy. 115 corridor. Studying rail, a centuries-old technology with hyper-specific start-, end- and mid-points, isn’t necessarily the right way to spend dollars generated by sales taxes either, some town officials say ​At issue is how sales tax monies earmarked for transit are spent. ​North Meck residents have seen little​benefit from the

Business Today

benefit our citizens, increase bus ridership and continue to promote economic development along the original Red Line,” Washam says.​ ​The Huntersville Town Board adopted a formal resolution opposing the study at their March 20 town board meetin​g. The MTC is the policy board for CATS and has responsibility for reviewing and recommending all long-range public transportation plans. CATS spokeswoman Krystel Green said that the​agency is already studying bus options in a special project entitled ​”​ Envision My Ride.​”​“Through this initiative, we will study where and how bus routes in the north corridor—along with the rest of our bus routes—will operate with regards to improved travel times and frequency.” The CATS bus study was conducted ​And it looks like C ​ ornelius ​officials are online during December and January, hundreds of millions of dollars they’ve​ generated in sales tax support for transit also opposed to t​ he CATS study. and the survey results are currently being Cornelius Mayor Pro Tem Woody tabulated. Green said once the study is ​ over the past two decades, Aneralla says. Washam said he is also opposed to mov- complete CATS will then coordinate the ing the line away from ​the town centers​, results with their West/North/System Inwhich adjoin existing development along tegration Study. Hwy. 115. “We want to use the money to ​S​everal ​major ​developments, includapply to enhanced bus service to North ing Antiquity, were specifically built Meck sooner than later​,” Washam says, to be near the original Red Line route explaining that he’s not opposed to the within the Norfolk Southern right-ofRed Line t​hat was​originally proposed​ way, so a route further east would run along the existing Norfolk Southern contrary to those long promised develfreight line. “However, I would support a opment plans. resolution to ask we do not use this monCATS​has long wanted to build a light ey for this expensive study but apply it to rail corridor​north out of Charlotte our actual transit needs.” along the Norfolk Southern​line, but ​ orth Mecklenburg political leaders the railroad has so far refused to e​ nterN are coalescing around moving ​​ $​ 1.5 mil- tain the idea​.​​A new corridor apart from lion in study money ​this year, as well as the Norfolk Southern tracks​would add $780,000 in next year’s CATS budget, to hundreds of millions of dollars to the the ​ No ​rth Meck​ lenburg​towns for bus Red Line’s $500 million estimated cost. shelters and other amenities to enhance Th​at​​would likely mean a larger tranbus service right now. ​The​vote on the ac- sit sales​tax—a tough sell in an area tual budget w ​ ill be at the April meeting. that already feels its been cheated out Transit, of course, is a big business of what has already been raised by the issue in a corridor choked with north- sales tax. south traffic. The Lake Norman Chamber In addition, many political observers has officially condemned the current toll believe the opposition to the I-77 toll plan on I-77 because it will not reduce lane contract displayed by the usually congestion. Buses operated by CATS, rock-solid GOP strongholds such as however, will be able to use the toll lanes. Cornelius and Huntersville cost ​ Gov.​ ​”​To be able to use the $2.3 million for Pat McCrory his re-election, and that bus shelters and other amenities to pro- opposition to a new rail line study mote an enhanced and more efficient would be another chance for the Northbus service to North Mecklenburg makes ern suburbs to display their strength. complete sense as it would more quickly


Business Today

April 2017

15

On The Record

THIS MONTH REAL ESTATE TRANSACTIONS . . 15 FORECLOSURES . . . . . . . . . . . . . . . 15 NEW CORPORATIONS . . . . . . . . . . 16

REAL ESTATE TRANSACTIONS These are recent property transactions over $200,000 as recorded by the county Register of Deeds in Cabarrus, Iredell and Mecklenburg.

Cabarrus County 03/15/17 $406,000 M/I Homes of Charlotte, LLC to Narash Yerram & Triveni Bomma, 2699 Red Maple Ln., Harrisburg 03/15/17 $362,000 Padmaja & Nagaraj Nunna to Ramy & Dina Georgy, 1108 Taranasay Ct., Charlotte 28269 03/15/17 $353,000 Taylor Morrison of Carolinas, Inc. to Kenneth & Laurie Korth, 9540 Horsebit Ln., Concord 03/15/17 $299,500 NVR, Inc. to John & Dawn Grzelak, 2287 Galloway Ln., Concord 03/16/17 $405,000 Michael & Kristen Barcellos to Robert & Sara Nutt, 2071 Feldspar Dr., Davidson 28036

03/16/17 $318,000 M/I Homes of Charlotte, LLC to Matthew & Morella Behrendt, 10664 Sky Chase Ave., Concord 03/16/17 $386,000 Niblock Homes, LLC to Thomas & Delencia Griffin, 4192 Abernathy Pl., Harrisburg 03/16/17 $3,146,000 JFS Holdings, LLC to YFP, LLC, 20 Raiford Dr., Concord 03/16/17 $360,000 Alexander & Rebekah Castro to John & Robin Saccone, 1196 Janrose Ct., Concord 03/17/17 $288,000 Jeffrey & Ashlie Hancock to Preston & Perla Deloux, 512 Montgrove Pl., Concord 03/17/17 $305,000 Pinnacle Homes USA, LLC to Devin Smith & Brittany Baskin, 3625 Mill Bridge Rd., Concord 03/17/17 $434,000 Niblock Homes, LLC to Adam & Jessica Goodman, 3991 Warwick Dr., Harrisburg

More Cabarrus Transactions online at www.BusinessTodayNC.com

Mecklenburg County 3/23/17 $289,000 Brian & Lauren Scott to Robert McNicholas, 13420 Provincial Ct., Huntersville 3/23/17 $396,000 South Creek Homes to Jay & Lynn Forgone, 11601 Mount Argus Dr., Cornelius 3/24/17 $525,000 Steven & Renee Robinson

to Matthew & Jennifer Leveille, 13345 Robert Walker Dr., Davidson 3/24/17 $279,000 Pulte Home Co. to Rajiv & Aruna Patel, 12703 Heritage Vista Dr., Huntersville 3/24/17 $395,000 Shebra Patterson to John Benjamin, 20301 Val Cir., Cornelius 3/24/17 $423,000 Lee & Jeanette Orlie to Darren & Kendall Giglio, 9724 Cockerham Ln., Huntersville 3/24/17 $297,500 Parrish Matthews to Kristin Flynn, 19721 Playwrights Way, Cornelius 3/24/17 $296,000 Stephanie Murphy to Patrick & Colleen Baker, 12628 Cheverly Dr., Huntersville 3/24/17 $252,500 Jeffrey & Carey Fissel to Stephanie Harris & Richard Pickett, 13717 Mallory Baches Ln., Huntersville 3/27/17 $265,000 Rosalie Allen to James & Abida Donovan, 7010 McLothian Ln., Huntersville 3/27/17 $315,000 Sharon Suddreth, Ian & Stephanie Suddreth to Sarah & Daryl Diamond, 16800 Summers Walk Blvd., Davidson 3/27/17 $410,000 Michael & Karen Norton to Margaret Bley & Maggie Whitman, 9913 Cockerham Ln., Huntersville 3/27/17 $296,000 James & Barbara Healey to Anne Marie Schulte, 18917 Cypress Garden Dr., Davidson 3/27/17 $332,000 Randall & Beth Collins to Michael & Tracy Bonoffski, 13330 Fremington Rd., Huntersville

More Mecklenburg Transactions online at www.BusinessTodayNC.com

Mooresville 3/24/17 $650,000 JBR Custom Homes to Glenn & Marie Carpenter, 135 Castle Dr. 28117 3/24/17 $472,500 Steven & Kathy Kranz to Kirt & Celine Dixon, 180 Freshwater Ln. 28117 3/24/17 $305,000 L. Bruce & Rosemary Meadows to Angela Tchorz & Scott Schade, 120 Oak Meadow Rd. 28115 3/24/17 $380,000 James & Morgan Palmer to Fernando & Daniella Carminholi, 112 Yellowbell Rd. 28117 3/24/17 $351,500 H&H Constructors Inc. to Travis & Elizabeth Meadows, 136 Southern Oak Dr. 28115

More Mooresville Transactions online at www.BusinessTodayNC.com

FORECLOSURES

Foreclosure actions have been started on the following properties. Items show the date foreclosure documents became public, owners, property address, lien holder, Continued on page 16

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Business Today

16 April 2017

On The Record

FORECLOSURES from page 15

lien amount. After required notices are published, the property is sent to auction. The property then can be sold, not sold (examples: bankruptcy files or action dismissed without prejudice) or the sale postponed.

Cabarrus County 03/07/17 Robert & Amarette Walker, 4255 Millet St., Concord, U.S. Bank Trust National Assoc., $118,252 03/07/17 Gary & Debra Crisp, 1505 Candlewyck Ct., Kannapolis, Federal National Mortgage Assoc., $139,500 03/07/17 Jamie Blalock and Sarah Reep, 1041 Ramsgate Dr., Concord, 1041 Ramsgate Dr., Concord, Bank of America, $158,993 03/13/17 Demond & Angela Parks, 301 Bell St., Kannapolis, Wells Fargo Bank, $150,816 03/14/17 Cheryl Hines 431 Riverglen Dr., Concord, Wells Fargo Bank, $150,816 03/16/17 Keith & Kim Karriker, 431 Riverglen Dr., Concord, Wells Fargo Bank, $147,028 03/17/17 Paul Nash, 10830 U.S. Hwy. 601, Bank of New York, $150,326 03/21/17 Jesse & Amanda Boger, 2171 Mallard Pointe Dr., Kannapolis, Wells Fargo Bank, $104,914

03/21/17 Reginald & Renita Myers, 1338 Gambel Dr., Concord, Wells Fargo Bank, $205,219 03/21/17 Roy Stancil Estate, 716 Deaton Dt., Kannapolis, Nationstar Mortgage, $79,000

More Cabarrus Foreclosures online at www.BusinessTodayNC.com

Mecklenburg 3/6/17 Mark & Marion Foster, 10028 Spring Park Dr., Charlotte 28269, Mortgage Electronic Registration Systems $224,125 3/9/17 Alice Spencer Boulware, 4823 Springview Rd., Charlotte 28213, Wells Fargo $78,750 3/10/17 Manjunatha Kaliyur & Jayalakshmi Hassan, 2824 Silkstream Ln., Charlotte 28262, Georgia Banking $128,250 3/13/17 Eloisa I. Cespedes, 4913 Lynn Lee Cir., Charlotte 28213, JPMorgan Chase Bank $97,850 3/16/17 Robin L. McLean, 9709 Pernell Ln., Charlotte 28213, Countrywide Home Loans $123,700 3/17/17 Latika Garland, 5349 Harris Cove Dr., Charlotte 28269, Wells Fargo Bank $85,200

More Mecklenburg Foreclosures online at www.BusinessTodayNC.com

Mooresville

Lake Norman Coin Shop Mike Young

We buy U.S. Coins and Currency Buy - Sell - Appraisals 19905 W. Catawba Ave. Suite 106 Cornelius, NC 28031 (704) 895-6884

3/3/17 Michael Hickey & Lauri Richter, 116 Waterlynn Club Dr. 28117, Countrywide KB Home Loans $273,298 3/3/17 James Campbell, 121 Winborne Dr. 28115, Bank of America $112,078 3/9/17 Mark & Angela Garner, 141 Eagle Ct. 28115, North American Mortgage Company $111,084 3/14/17 Jerry & Patricia Wike, 127 Oxford Dr. 28115, CCO Mortgage $251,000 3/20/17 Robert & Suzette Hoy, 248 Glenn Allen Rd. 28115, Mortgage Electronic Registration Systems $190,921

More Mooresville Transactions online at www.BusinessTodayNC.com

NEW CORPORATIONS These businesses have registered with the N.C. Secretary of State.

Cabarrus County 3/22/17 Aero Crews LLC, Parish Moffitt, 1315 Sandy Bottom Dr. NW, Concord 3/22/17 Chariot Auto Inc., Mac Wayne Billings, 2608 N. Cannon Blvd., Kannapolis 3/22/17 Chariot Auto Finance Inc., Mac Wayne Billings, 2068 N. Cannon Blvd., Kannapolis 3/22/17 Clowney Laen Care & Landscape Service LLC, Timothy Franklin Clowney, 205 South East Ave., Kannapolis 3/23/17 Knox and Morgan LLC, Derek Jarstfer, 1610 Dale Earnhardt Blvd., Kannapolis 3/23/17 The Sapphire Haven Inc., Carol Fannon, 416 Old Charlotte Rd. SW, Concord 3/23/17 Sticky Fingers and Co. LLC, Tori Collifer, 1026 Gerry Ct., Concord 3/23/17 Two Edify Foundation Inc., Dorothy Arleatha Carter, 2726 Thistle Brook Dr., Concord 3/23/17 Walnut 206 Condominium Association Inc., Benjamin C. Karb, 300 McGill Ave. NW, Ste. 100, Concord 3/23/17 Wolverine Light Holdings Inc., Anne W. Morrison, 167 Church St., Concord 3/24/17 Hunter Properties Preservation LLC, Deddrick Hunter, 1904 Florida Ave., Kannapolis 3/24/17 NC Blue Investments, Linda Mikesh, 328 Crestside Dr. SE, Concord 3/24/17 Wulfram Cross Enterprises LLC, Lena C. Champlin, 50 Lily Green Ct., #524, Concord

More Cabarrus New Corporations online at www.BusinessTodayNC.com

Mecklenburg County 3/24/17 AAA Restoration LLC, John F. Hanzel, 19425-G Liverpool Pkwy., Cornelius 3/24/17 AB Equities LLC, John F. Hanzel, 10130 Mallard Creek Rd., Ste. 300, Charlotte 28262 3/24/17 Carolina Hardscape & Landscape

Builders Inc., John F. Hanzel, 19425-G Liverpool Pkwy., Cornelius 3/24/17 CKL 2005 LLC, Charles Cameron Lewis, 13032 Long Common Pkwy., Huntersville 3/24/17 Dr Tran DMD PLLC, Joanie Kmieciak, 212 S. Main St., Davidson 3/24/17 Generational Transport LLC, Sara Elaine Chambers, 7703 Pope Farm Rd., Charlotte 28269 3/24/17 HLC Group LLC, Reginald Hokes, 9700 Research Dr., Charlotte 28262 3/24/17 ITXM365 LLC, Neha Lala, 1820 Harris Houston Rd., #621502, Charlotte 28262 3/24/17 Jae Concrete LLC, Juan A. Espinal, 9718 Kenneth Oren Dr., Charlotte 28213 3/24/17 Lady Boss by Nature LLC, United States Corporation Agents, 2750 E. WT Harris Blvd., Ste. 316, Charlotte 28213 3/24/17 Let’s Make It Happen Event Planning LLC, Andrea Murray, 8323 Paces Oak Blvd., Apt. 922, Charlotte 28213 3/24/17 Moonflower Variety Shoppe LLC, Mary Shine, 10008 Green Hedge Ave., Charlotte 28269 3/24/17 TGC Roofing and Restoration Inc., Kevin Clapp, 14916 Carbert Ln., Huntersville

More Mecklenburg New Corporations online at www.BusinessTodayNC.com

Mooresville 3/21/17 Iwaki America Incorporated, Mark Johnson, 136 Pamlico Ln. 28117 3/21/17 John F Noto Inc., Jayne Noto, 267 E. McNeely Ave. 28115 3/21/17 Tifton LLC, Jonathan Warwick, 111 Harbor Shore Ct. 28117 3/22/17 A&A Landscape Supplies Inc., Gregory A. Vogel, 166 Fox Hollow Rd. 28117 3/22/17 Sundown Casa LLC, Susan Jackowski, 228 Elysian Dr. 28117 3/23/17 Encore Nurses Enterprises LLC, Alissandro Roque Castillo, 538 Williamson Rd. 28117 3/23/17 Hsquared Carpet LLC, Robert Hipps, 254 Commodore Loop 28117 3/23/17 Nu-Tec Systems LLC, Michael K. Cooper, 302 Rolling Hill Rd. 28117 3/24/17 Ladowski Occupational Therapy PLLC, Andrea J. Ladowski, 191 Pamlico Ln. 28117 3/24/17 Mooresville Dragway Motorsports Park LLC, Donnie Gibbs Jr., 1255 Wilkinson Rd. 28115 3/24/17 SCRN LLC, Kevin Donaldson, 149 Welton Way 28117 3/24/17 Waxhaw Mill Restaurant Group LLC, Jayson M. Poluka, 161 Southwood Park Rd. 28117 3/24/17 The Well for Health PLLC, Diane M. Parks, 111 Kilson Dr., Ste. 201 28117

More Mooresville New Corporations online at www.BusinessTodayNC.com


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Business Today

18 April 2017

GOLF

from page 1

revenue lies in leagues–and lots of them. Steimke has also worked in private, semi-private and public courses in Virginia, Arizona and Florida.

Leagues are entry points

“In my experience, two things save a club: memberships and league play,” he said. Leagues are entry points for new golfers and new members, and league events and programming guarantee revenue. Steimke currently manages more than 10 league events

weekly at the Mooresville club, which results in thousands of rounds played per year, he said. But leagues go beyond the bottom line in sustaining the sport, because they help attract and retain new female players. When done right, ladies’ leagues break down many of the perceived “walls” that keep women out, Steimke said. Trish Schimel first took up golf in 1997 when she and her husband, Larry,

moved to the River Run neighborhood in Davidson. She found an immediate affinity for the sport and continued to play, despite the fact that from what she could tell, there were few women in River Run who played as much as she did, if at all. The Schimels recently moved to south Mooresville and joined the Mooresville Golf Club, where Trish was thrilled to find an active women’s league with more than 85 participants. “In my experience, private clubs

certainly seem to still be more maledominated,” Schimel said, which she believes can be a deterrent to female beginners. “It can be intimidating to walk into the pro shop, which is usually full of mostly men,” she said. “You feel silly because you don’t know the game and all the rules and etiquette yet.” Now an experienced golfer with more than 20 years in the sport, that intimidation has Continued on page 19

Rocky River Golf Club Book your upcoming outings and events! Dates going quickly

Newly remodeled clubhouse & banquet facilities.

#1 public course in Charlotte metro! NC Golf Rating Panel 2016

Great mini verde greens

Tournaments • Weddings • Memberships Available

www.VerdictRidge.com On The Quiet Side of Lake Norman 704-257-0100

Matt Zvanut, Group Event Manager Cell: 980-258-1011 matt.zvanut@jqh.com 704-455-1200 | www.rockyrivergolf.com


Business Today

April 2017

19

Continued from page 18

faded for Schimel but she knows other women still feel it. She is encouraged to see more female staff members and female pros. “I also think the time commitment affects the number of women who play,” she said. “Many of them are working, or have families, or both, and they don’t have 41/2 hours to devote to a game.”

More women now

Carole Scoggins, a River Run resident and golfer, first started playing golf with her husband when her children were young. She remembers the difficulty she had fitting in play time. “I’d drop my daughter off at preschool and try to squeeze in golf in the two hours before I needed to be back and pick her up,” Scoggins said. “I was able to play more seriously once she was in Kindergarten.” Scoggins now has played for more than 10 years, and has noticed more women playing golf in recent years – particularly in leagues and competitions, she said. “We have a lot of working women in

Kennedy Swedick participant in the 10-11 Girls ‘Drive Chip and Putt’ competition at Augusta National

River Run, so we have a lot of 9-anddiners,” she said – women who want to play golf, but perhaps don’t have the time to devote to 18 holes regularly. Understanding the scheduling challenges busy women face, Steimke has diversified his Mooresville league offerings, with groups meeting in the mornings, evenings, and on weekends, for both 9- and 18-hole rounds.

Diversification

Diversification of offerings and increased engagement efforts have taken on new importance over the last 10 years, as economic downturn and waning participation have led to numerous club and course closings. According to a 2016 article on Bloomberg by Patrick Clark, the golf industry experienced a boom up until the early 2000s, driven by developers who wanted to offer

golf course amenities to homebuyers, but over the last decade more than 800 golf courses have closed nationwide and the 2008 recession dealt a blow to the industry from which it still has not fully recovered. “When you’re losing golfers, and losing golf courses, you have to find ways to engage new members of all types,” Steimke said. “You need everyone – any age, any level, any gender.”

Open to the public. Book your tee time today!

Club house opening soon! The renovations are complete, and the golf course is spectacular in every sense of the word. 800 Golf Course Drive | Mooresville, NC 28115 | 704-663-2539 | MooresvilleGolfClub.com


Business Today

20 April 2017 Share The PASSION “It is a beautiful thing when a career and a passion come together” Blue-J’s Janet Schultz is passionate about providing opportunities to those on the Autism spectrum, and she wants to share that with others Now offering Blue-J start-up business packages that include Schultz’s already successful business plan

Hot Properties

​ ace driver Mark Martin R sells home for $2.425 million

Expanding the Blue-J model offers employment to even more individuals on the spectrum Perfect for parents, families, schools and groups For more information, call 704-589-3148 Bluejsmallofficecleaning.com

800.315.3655 www.LakeNormanRealty.com

Is your Accountant a Bean Counter or a Benefit to your Business?

18810 Halyard Pointe Lane in Cornelius sold for $2,425,000

Mark Martin​ ​ , one of the biggest names ​ i​ n NASCAR, h ​as sold his house in The Peninsula for $2.425 million. The lakefront home, on Halyard ​ Pointe Lane, was on the market a little lover three months. The house has walls of windows over looking 190 feet of shoreline. Inside are state-of the-art automation, artisan millwork, a chef’s kitchen with a

commercial range and tongue-ingroove ceilings. Martin, who last drove the No. 14 Chevrolet SS for Stewart-Haas Racing in the NASCAR Sprint Cup Series, listed the house with Dixie Dean of Allen Tate. Martin being Martin, the house has a four-car heated and cooled garage. Continued on page 21

For small businesses, an accountant is not optional. But does your accountant provide real value, or are they just counting your beans each month? In reality, your accountant should be a strategic partner who adds value to your business, not just another cost.

How do you know? Does your accountant focus on your Success? Does your accountant look for New Innovations? Does your accountant help you plan your Financial Future?

8220 Village Harbor Dr. Cornelius, NC 28031 704.895.7181 2518 A Plantation Center Dr. Matthews, NC 28015 704.841.1080

www.moffettgroup.com

9242 Sherbourne Lane in Sherrils Ford sold for $1.1 million


Business Today

April 2017

21

Hot Properties Southern Homes of the Carolinas. The 3,300-square-foot house, which was on the market a little over two months, has quartz counters in the kitchen, two wood-burning fireplaces and a master bath with a whirlpool tub. Jeana Young of Re/Max Executive represented the buyers. The tax value is $636,130.

In Sherrill’s Ford

119 Homer Lane in Sister’s Cove sold for $1,069,000 Continued from page 20

Dean listed the house at $2.55 million. It has a total of 5,767 square feet of heated living area. The tax value of the house is $1.75 million. According to Mecklenburg County records, it sold for $2 million in 2013. ​K athleen McMahan of Lake Norman Realty represented the buyers.

In Davidson

A 3,860 square-foot home at 18830 River Falls Drive has sold for $825,000 after being listed at $849,900 by Jan Sipe and Neal Crites at Crites Properties, based in Cornelius. The two-story traditional home was on the market a little more than

three months. The full-brick house has four bedrooms, 3.5 baths and extensive moldings, all in 3,860 square feet of space. There is a three-car garage as well as a resort style heated saltwater pool and spa with three waterfalls and an outdoor fireplace. The tax value of the 11-year-old home is $603,000. Joe Puma of Puma & Associates in Cornelius represented the buyers.

In Denver

A lakefront home with a two level dock, a boat ramp and more than 1,100 square feet of composite decking and porches, has sold for $660,125 after being listed at $700,000 by David Henderson of

Allen Tate l​argest real estate firm in Carolinas Allen Tate​, one of the principal players in the Lake Norman and Cabarrus real estate markets, is the largest real estate firm in the Carolinas, according to the 2017 REAL Trends 500 ranking. Allen Tate Company closed 22,194 transaction sides in 2016 to earn the rankings. It ranked No. 12 among all brokers nationwide, based on closed transactions sides last year. ​New Jersey-based NRT, formerly National Realty Trust, is the largest, with more than 300,000 sides. NRT has consolidated such franchises as Coldwell Banker​, ERA and Century 21, as a subsidiary of Realogy Corp. It operat4es in 50 of the 100 largest metro markets in the U.S. Allen Tate has offices in the Charlotte, Triad, Triangle and Upstate South Carolina regions.

A 5,800 square foot home at 9242 Sherbourne Lane in Sherrils Ford has sold for $1.1 million after being listed at $1.15 million by Maria Jacobs of Lake Norman Realty in Mooresville. The lakefront house has a private dock and beach, as well as a firepit and built-in grill in an outdoor entertainment area. There is a two-story great room, an office with a coffered ceiling and an exercise room with a full bath. Located on three-quarters of an acre, the house has a tax value of $1.165 million. Elizabeth Davis, with Keller Williams in Mooresville, brought the buyers to the closing table.

In Sister’s Cove

A new home in the Sister’s Cove lakefront enclave in Mooresville has sold for $1.069 million after being listed at $1.089 million by Shelley Johnson and Craig LePage of Keller Williams in Cornelius. The four-bedroom, four-bath house, with nearly 4,000 square feet of space, has a master on main, a drop zone/ mudroom with a desk. It was on the market about six month. Sally Parker with Lake Norman Realty represented the buyers.

REAL Trends 500 by Sides Rank Company

City

State

1

Madison

NJ

NRT LLC

2

HomeServices of America, Inc

Minnesota

MN

3

Hanna Holdings

Pittsburgh

PA

4

Long & Foster Companies, Inc

Chantilly

VA

5

RealtyONEGroup

Irvine

CA

6

Keller Williams Realty

Arlington

TX

7

Crye-Leike Realtors

Memphis

TN

8

REALHOME Services and Solutions

Atlanta

GA

9

REAL Estate One

Southfield

MI

10

HomeSmart LLC

Scottsdale

AZ

11

RE/MAX Results

Eden Prarie

MN

12

Allen Tate Companies

Charlotte

NC

Q

: I have bought property in other states, and my closing was not conducted by a real estate attorney. Why does North Carolina require that an attorney conduct a real estate closing?

A

: Many aspects of real estate law are State specific. North Carolina has a somewhat unique system that involves a real estate attorney searching and opining on the state of the property’s title to an independent title insurance company or agency. The title insurance company then issues the title insurance commitment or policy, while the real estate attorney conducts the closing, handling of funds, and recording of the documents. A few advantages of the North Carolina JACKSON approved attorney system are: 1. Cost – Involvement of an attorney in the process keeps the overall cost of the transaction down 2. Legal Representation – Attorneys are able to provide legal advice during the closing process 3. Oversight of Attorneys - Attorneys are closely regulated by the State Bar and General Statutes, and most carry malpractice insurance. 4. Oversight of Attorney Trust Accounts - Attorneys’ trust accounts are regulated by both the State Bar and the North Carolina Good Funds Settlement Act These are just a sample of the many benefits to closing your real estate transaction with an approved real estate attorney.

Contact Patrick M. Jackson President, Master Title Agency 8640 University Executive Park Dr., Charlotte

704-348-2866 www.mastertitleagency.com


Business Today

22 April 2017

Personal Finance

Stock market outlook

...with a little help from Sir John Templeton You & Your Money

Editor Dave Yochum nebiztoday@gmail.com Sales & Marketing Director Gail Williams gail.todaypubs@gmail.com Account Executive Rose Schell-Wilson rose.todaypubs@gmail.com

BY CHRISTOPHER W. DAVIS Is the market too high? Is it too late to invest? How will we finish the year? The Wells Fargo Investment Institute’s 2017 year-end forecast for the S&P 500 of 2230 – 2330, has been surpassed as of March 13. Their year-end forecast is in line with their peers, the forecasting crowd. For me to join the crowd and attempt to answer the above questions is a fool’s errand, to be sure. Well, add one more market forecast to your shredder. Here is my take, aided by some wisdom from the late Sir John Templeton. the investor and philanthropist behind the Templeton Growth Fund. “Bull markets are born on pessimism, grow on skepticism, mature on optimism and die of euphoria.” —John Templeton On my monitor at work I have taped four words: Paranoid, Practical, Imaginative and Delusional. Along with Templeton’s quote they help me monitor the financial markets. For instance; In late 2008 and early 2009 investors were paranoid. (With good reason.) Somewhere in 2010 our clients became practical. (Planning their financial futures.) 2016 post-election observation and evidence suggest that the retail investor has become imaginative. (Market techni-

cians are noting cash inflows from retail investors.) We do not believe that investors are yet delusional. (We have not yet seen greed similar to the 1999 technology bubble.) I cannot argue that valuations are extended relative to historic measurements. Nor can I argue against the possibilities that a late stage economy and bull market could be extended a couple of more years. Recessions kill bull markets. Our next recession could potentially get pushed back as a result of pending congressional fiscal stimulus; tax reform, regulatory relief, and infrastructure spending. Investment sages remind us that bull markets go out with a bang, not a whimper. And that markets overshoot on the upside. Templeton offers us advice on when to sell. “Sell a stock only when you have found a new stock that is a 50 percent better bargain than the one you hold.” This can apply to entire markets. If you sell, where will you go with the cash? How long are you willing to hold cash for the next investment opportunity? “The four most expensive words in the English language are ‘this time it’s different.’“ This sounds like a delu-

sional phrase. The CHRIS DAVIS psychology of the market has traditionally been influenced by a “herd mentality.” Keep vigilant, but keep your finger off the trigger. “To buy when others are despondently selling and selling when others are greedily buying requires the greatest fortitude and pays the greatest reward.” Since investors are not “paranoid,” perhaps we should temper our investment return expectations over the next 10 years, to include our next recession and a time when investors could be “paranoid.” “If you want to have better performance than the crowd, you must do things differently from the crowd.” Hmm, what are we doing differently? Until next month, I’ll be thinking about this one. Google “the top 25 quotes by John Templeton” for wisdom that transcends financial markets, helping each of us become better people. Christopher W. Davis, a Certified Financial Planner, is managing directorinvestments at Davidson Wealth Management, Wells Fargo Advisors in Davidson. A graduate of UNC-Chapel Hill, Davis has been an investment adviser since 1981. His column will appear monthly.

vert “mind-set, skill set, relationships, attitude, perspective and focus” to become an effective leader. Though his tips may not be groundbreaking, Gentry draws from solid research and relevant personal experience. The book includes practical exercises for learning the leadership skills he discusses. getAbstract recom-

Contributing Writers Erica Batten, Cheryl Kane, Dave Vieser, Dave Friedman, Cathryn Piccirillo Sherman Phone 704-895-1335 The entirety of this newspaper is copyrighted by Business Today, LLC 2016 with all rights reserved. Reproduction or use without permission of any content is prohibited. Business Today is an Equal Opportunity Employer. Business Today P.O. Box 2062 Cornelius, N.C. 28031 BACK ISSUES Payable by VISA & MASTERCARD ONLY. $1.50 (if available); $4 to mail FAXED ARTICLES - $5 per page PHOTOS - $100 REPRINTS - Reprints on high-quality , framable stock are available, starting at $65. NEWS AND CALENDAR ITEMS Business Today is a local business publication. If you have news items, they may be e-mailed to businesstodaync@gmail.com. Business Today is published on the first Friday of every month. SUBSCRIPTIONS May be purchased for $36. LETTERS TO THE EDITOR Do you have an opinion you’d like to share? We offer a forum for ideas, opinions and dissenting opinions.

Book Review: Be the Boss Everyone Wants to Work For Most new leaders get almost no training. Psychologist William Gentry helps fill this void with tools, advice and guidance for “entry-level and first-level supervisors, managers and directors.” His goal is to help you “flip your script” – to in-

General Manager Stephen Nance production.todaypubs@gmail.com

mends the sensible guidebook to anyone newly promoted into a leadership position and to those who train leaders. William Gentry PhD. Be the Boss Everyone Wants to Work For: A Guide for New Leaders. Berrett-Koehler Publishers, Inc., 2016. 216 pages. ISBN-13: 9781626566255.

You can e-mail your thoughts to nebiztoday@gmail.com or mail to Business Today at P.O. Box 2062, Cornelius, N.C. 28031. Your letter, or a longer opinion piece, may be edited for brevity and/or clarity. Please include a phone number.


13

Thank you

2017

Sponsors!

• Provide a full day of fun for kids in Big Brothers Big Sisters • Raise money for an efficiently run non-profit • Recruit mentors for children in BBBS

Bill & Ericka Cain Rotary Club of North Mecklenburg

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Commander: AlphaGraphics of Lake Norman • John and Shea Bradford • Charlotte Ear Eye Nose and Throat Associates - Dr. Michael Miltich • Dobi Financial Group • Jim and Carolyn Duke • Brian Harris and Scarlett Hays • KS Audio Video - Ken Ziegler • Shelley Johnson and Craig LePage • Lake Norman Realty - Abigail Jennings • The McIntosh Law Firm • Rose Associates - Kathleen Rose • Troy and Della Stafford • Jeff and Nancy Tarte • Dirk & Heidi Tischer • Brian and Tricia Sisson & Erica Erlenbach Friends: John and Nancy Aneralla • Chris and Sally Ashworth • Rod Beard • Chaz Beasley • Law firm of Bentz and Associates - Catherine Bentz • Blair and Margaret Boggs • Crafty Burg’r • Dixie Dean • Dresslers Restaurant • Tom and Ann Dutton • Rusty Knox • Rhonda Lennon • Thurman Ross • Jennifer Stoops • Washam Properties - Woody & Sharon Washam Food and Beverage Vendors: Alton’s Kitchen and Cocktails, Big Bite’z, Brickhouse Tavern / Port City Club, Brixx Wood Fired Pizza, Bruster’s Ice Cream, Herrin Brothers Ice, Mama’s Pizza Express, Tenders Fresh Food

Supported by

and

for 13 years


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Tammy Godwin 704-650-0296

Michael Green 704-954-4489

19520 W Catawba Ave Suite 113 | Cornelius, NC 28031 | 704-895-4676 Office | www.CarlyleProperties.com

Business Today - April 2017  
Business Today - April 2017  
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