News

Natty Greene's founders part ways, stay friends

  Image property of Perfecta Visuals.

Image property of Perfecta Visuals.

One of the city's most enduring and well-known business partnerships has come to an end.

Amicably.

Kayne Fisher and Chris Lester are college buddies who founded Natty Greene’s beer.

That the two were going their separate ways has been known by many for some time, but the divergence is now official.

“We had a heck of a partnership," Fisher recalled. "It was great to be a part of a product that we turned into a brand that Greensboro should be proud of because it is still as strong as ever. But I was just ready for the next chapter."

Fisher assumes ownership of The Kitchen and Market at Revolution Mill, a restaurant the two opened last year.

"I’m happy for him," Lester said. "I hope he does really well. He wants to do more with the food. That’s his dream and he’s trying to follow his dream, which is awesome."

Lester will continue the Natty’s brand.

"I’m excited," Lester said. "I’m going to be doing the downtown pub and still doing beer at the production facility."

Meanwhile, Fisher is becoming a full-time restaurateur.

“It was time to move on,” Fisher explained. “On the beer side, he keeps Natty Greene’s and all things Natty. For me, I get to follow my true passion."

Read the rest of the News & Record article here >>

Part Of VF Corp. Moving To Revolution Mill In Greensboro

GREENSBORO (WFMY) - VF Corporation has selected Greensboro’s Revolution Mill as the new home for parts of its Jeanswear business. In August, VF announced it was creating an independent, publicly traded company, currently called 'NewCo,' which comprises VF's Jeans brands including Wrangler and Lee.

VF has signed a five-year lease with Revolution Mill. Around 125 U.S. NewCo employees will move into the 43,000 square-foot space in the former textile mill beginning in March 2019. 

“We are making great progress in our work to establish the Jeanswear business as its own publicly traded company, and today’s announcement is another important milestone as we move toward the separation in the first half of 2019,” said Steve Rendle, VF’s Chairman, President and CEO. “Revolution Mill is a historical property that honors the Greensboro community’s storied textile heritage. It’s only fitting that our Jeanswear organization will locate select functions there and help to continue the rich history and legacy of the Revolution Mill campus.”

In August, VF announced it's moving its global headquarters from Greensboro to Denver. The Denver headquarters will also become home to VF brands such as The North FaceJanSportSmartwoolAltra and Eagle Creek.

The official name of NewCo will be announced by the end of 2018. NewCo will employ approximately 25,000 employees globally.

See the rest on WFMY >>

VF spinoff taps Wrangler building for HQ, but some functions are bound for Revolution Mill

VF spinoff taps Wrangler building for HQ, but some functions are bound for Revolution Mill

The jeanswear spinoff company of VF Corp., temporarily named "NewCo," will move certain functions into 43,000 square feet at Revolution Mill in Greensboro. 

VF made the announcement Thursday.

NewCo will be a publicly traded company consisting of the Lee, Wrangler and Outlet brands. VF announced the spinoff in August, when it also announced it would be moving its global headquarters from Greensboro to Denver. 

The jeanswear company will have its headquarters at 400 N. Elm St., the current home of the Wrangler brand, VF said. 

The company signed a five-year lease at Revolution Mill – a former textile mill north of downtown Greensboro owned and redeveloped into a mixed-use complex by nonprofit community development organization Self-Help. 

The anticipated move-in timeframe is March 2019. 

NewCo will put merchandising, design and product development and innovation functions in the space that will house 125 NewCo employees. 

Triad Business Journal previously reported that there have been rumors that VF was considering locating functions in the mill complex. 

VF said minimal upfits are needed. 

"As we begin our NewCo journey, Revolution Mill is the ideal space to create an inspiring, creative working environment for our employees," said Scott Baxter, the appointed CEO of NewCo. "We're excited about what this space will offer our employees and brands, and we look forward to joining the vibrant community that exists on the Revolution Mill campus."

See the rest on Triad Business Journal >>

More luxury units coming to fashionable Triad apartment community

One of the Triad's most fashionable apartment communities is expanding with more luxury units at a premium price.

Eight new apartments are under construction at Revolution Mill in the space remaining on the west end of the residential building near The Colonnade, an 8,500-square-foot event space with an outdoor courtyard.

Maggie Cummings, the property manager, told Triad Business Journal that the apartments are scheduled for completion in the fall. C.T. WilsonConstruction Co. of Durham is the general contractor for the project, estimated at $1.8 million in a building permit filed with the City of Greensboro.

C.T. Wilson worked in a joint venture with Weaver Cooke of Greensboro on earlier renovations at Revolution Mill. Developer Self Help Ventures Fund is part of Durham-based non-profit Self Help. Revolution Mill opened its first 140 residential units early in 2017.

Read the rest of the article on Triad Business Journal >> 

CBRE|TRIAD IS PLEASED TO ANNOUNCE OLD NORTH STATE TRUST’S RELOCATION TO REVOLUTION MILL

CBRE|Triad is pleased to announce Old North State Trust will relocate from downtown Greensboro to Revolution Mill, the former Cone Mill textile plant is located along the Yanceyville Street corridor in Greensboro, just minutes from downtown. 

Due to the growth of the financial planning company, they have leased 5,000 square feet on two floors in the 1250 Building at Revolution Mill. The high-end office space will feature glass walled offices, and take advantage of the mill’s huge historic windows, hardwood decking, high ceilings and exposed oak beams. Old North State will be moving by the end of the year. 

“This is one of the premium spaces in the Mill, and we’re delighted with Old North State’s plans for it,” said Malcolm White, director of marketing and leasing for Self-Help, Revolution Mill’s developer. “Their clients will enter a spectacular reception space flooded with light, and Old North State’s staff will enjoy the dramatic setting for their individual offices. It’s a great fit.” 

The CBRE|Triad team of Richard Mossman, senior vice president, Matt King, assistant vice president and Christy Crouch Smith, associate, represented Self-Help in the transaction. Old North State Trust was represented by Richard Beard of Schulman and Beard Commercial Real Estate. The CBRE|Triad team has been handling the leasing and marketing responsibilities for Revolution Mill since October 2015.


About Old North State Trust, LLC 

Old North State Trust (ONST) is a North Carolina based independent, family owned financial services company. As the needs of our founders became more complex, ONST evolved from a family office into a chartered trust company regulated by the state of North Carolina. Today, ONST is a well-established trust company that offers families and individuals meaningful and personalized service. The firm was built on a foundation of trust and integrity- those principles govern all client relationships. For more information about the company, visit http://www.oldnorthstatetrust.com/ . 

 

About Revolution Mill 

The Revolution Mill District is a historic textile mill campus encompassing Revolution Mill and Olympic Mill sites, with adjacent land connected by North Buffalo Creek. Located just north of downtown Greensboro, Revolution began operations as the South’s first large flannel mill in 1899 and for decades anchored a thriving community of workers and craftspeople. The facility included over 640,000 feet of working space before the textile industry decline led to its closure in 1982. For the next few decades, limited sections of Revolution were renovated into office space, while other parts of the property fell into disuse and disrepair. In 2012 Self-Help assumed ownership of Revolution Mill and is completing the property’s transformation into a mixed-use development. For more information about the property, leasing availability and details surrounding commercial, residential and studio space visit www.revolutionmillgreensboro.com or call (336) 235-2393. 

 

About Self-Help 

Self-Help, a community development credit union and lender headquartered in Durham, has provided over $6.9 billion in financing to 112,000 families, individuals and businesses underserved by traditional financial institutions. It helps drive economic development and strengthen communities by financing homebuyers, nonprofits, child care centers, community health facilities, public charter schools, and residential and commercial real estate projects. Self-Help’s credit unions serve over 120,000 people in North Carolina, California, Chicago and Florida with a full range of financial products and services. 

In addition to Revolution Mill, Self-Help’s long Greensboro history includes the redevelopment of the Self-Help Center downtown, a Self-Help Credit Union branch at 3400 Battleground Ave and the in-process redevelopment of the Renaissance Shops at Phillips Avenue, formerly the old Renaissance Shopping Center. In Guilford County, Self-Help has made home and commercial loans totaling $90 million, creating or maintaining an estimated 2,700 jobs. Over 70% of the loans have been to minorities, and 66% to low-income families. Learn more at www.self-help.org. 

 

About CBRE|Triad 

CBRE|Triad is a CBRE affiliate office serving the Triad Region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. The local office closed more than $199 million in sales and leasing transactions in 2016. For more information about the Triad office, visit our website, www.cbre.us/triad.