W-S franchise group acquires GetFried
ZorAbility, a Winston-Salem advisory and investment-strategy firm for emerging franchise brands, said it has acquired GetFried, a 12-unit, french fry-focused, quick-service restaurant concept.
The company will be renamed as GetFried Franchise USA, LLC, and franchise-industry veteran Mark Lyso will serve as president. Its headquarters will be moved from Buffalo to Winston-Salem.
ZorAbility was founded in 2016 by Sam Ballas, president and chief executive of East Coast Wings and Grill.
GetFried locations include mobile units, concession, walk-up and sit-down cafe formatted stores for lunch, evening and late-night consumers throughout malls, college towns, sports arenas, casinos, airports, gas stations, movie theaters and urban entertainment districts.
“GetFried is an ideal brand for non-traditional locations, international and highly-populated markets,” Ballas said. “Through franchising, we anticipate scaling GetFried anywhere between 200 to 250 locations over the next five years.”
Imperial Brands buys into cannabis group
Imperial Brands Plc said it will spend $90.7 million as part of entering a research and development partnership with Auxly Cannabis Group Inc. of Canada.
Imperial is the parent company of ITB Brands of Greensboro.
Imperial said the investment is focused on granting Auxly global licenses to Imperial’s vaping technology and access to its innovation business Nerudia.
Legalized cannabis is a highly regulated adjacent sector to tobacco. Following an extensive evaluation of the Canadian market, Imperial selected Auxly as its partner “due to the high caliber of its assets, people and capabilities.”
Imperial said its investment will accelerate the delivery of Auxly’s business plan ahead of significant regulatory change to the Canadian cannabis market in October
Imperial will be offered one of five director positions and one non-voting observer on Auxly’s board of directors.
Property portfolio sells for $30.5 million
A Raleigh commercial real-estate group has spent $30.5 million to buy eight industrial properties in Greensboro, according to a Guilford County Register of Deeds filing Friday.
The buyer is GSO West LLC, an affiliate of Nova Capital Partners. The seller is Lingerfelt Commonwealth Greensboro Sub LLC.
The properties involved in the transaction are: 7800 Thorndike Road, 7815, 7817, 7819, 7823 and 7825 National Service Road (all in the Airport West complex) and 7341 and 7349 W. Friendly Ave.
The eight properties total about 226,500 square feet.
N.C. A&T sold for $3.4M
A California residential real-estate company has paid $3.4 million to buy an apartment complex serving N.C. A&T State University, according to a Guilford County Register of Deeds filing Friday.
The buyer is Campus East Apartments II LLC of San Jose, Calif.
The sellers are a consortium consisting of four families and one limited-liability company, all based out of state.
Campus East Apartments, at 201 Holt Ave., consists of 36 units on a 2.6-acre site about 1.5 miles from the A&T campus. It was built in 2008.