Business briefs

Jan. 08, 2014 @ 05:38 PM

Developer buys additional land in Ninth Street area

DURHAM – A Raleigh-based firm that partnered to bring new development to the Ninth Street area has bought vacant commercial land and a parking lot leased by Duke University in the area for $1.1 million, according to property records.

In December, a limited liability company connected to the development firm Chartwell Property Group bought a little less than 9 acres off Hillsborough Road near its intersection with Ninth Street.

Chartwell was one of the two firms that partnered to buy property along the western side of Ninth Street. The project included the construction of the new Harris Teeter at the corner of Ninth Street and Hillsborough Road and the renovation of existing retail buildings on the western side of Ninth.

Attempts to reach Chartwell’s managing partner were unsuccessful Wednesday. Scott Selig, associate vice president of capital assets and real estate at Duke University, said Duke has leased the lot on Hillsborough Road for “years and years” and is continuing to do so. “Basically, it just went from one landlord to another, so there’s no change from our standpoint,” Selig said.


Quintiles announces medicine safety, pill reminder app

DURHAM – Durham-based Quintiles Transnational, a company that manages clinical trials and provides other services to pharmaceutical companies in a contract basis, has created a new mobile app that can give hourly, daily or weekly pill reminders.

The app is for users of the MediGuard service, a website that patients can use to monitor their medications and to get research information. Quintiles combines and uses aggregated data from the Website to study how the site is being used, and it can also share the non-personalized, aggregated data with clinical research partners.

The new app allows users to print or email a list of their medications for sharing with their doctors or others. And through the website or app, patients can get drug information including side effects, safety alerts and recalls, drug interactions between medications, and satisfaction ratings from other patients.

CoreLogic: Durham-Chapel Hill home prices up 6 percent

IRVINE, Calif. – Durham-Chapel Hill area home prices, including distressed sales, climbed 6 percent in November compared to the same month last year, but stayed flat compared to October.

That’s according to new data from the information, analytics and services provider CoreLogic. Excluding distressed sales, CoreLogic reported that year-over-year prices in the area were up 7.3 percent year-over-year in November, and up 0.7 percent month-over-month.

Nationwide, home prices including distressed sales increased 11.8 percent in November year over-year for the 21st consecutive monthly year-over-year increase for the nation. Compared to October, home prices, including distressed sales, increased by 0.1 percent in November.

“The housing market paused, as expected, in November for the holiday season with very low month-over-month appreciation,” said Anan Nallathambi, president and CEO of CoreLogic, in a prepared statement in a news release. “The outlook for 2014 looks a bit less robust as regulatory complexities and tight credit can be expected to cool the housing market.”