Shoppes at Somerset sold for second time in 2018

The Shoppes at Somerset, off South Stratford Road with Food Lion as an anchor, has a new owner for the second time in five months.

A combination of Florida and North Carolina investors, including Budd Investment Properties LLC, paid $7.87 million for the property at 2530 Somerset Drive. The deal closed Friday, according to a Forsyth County Register of Deeds filing.

The shopping center consists of a 6.4-acre main section and a 2.12-acre outparcel.

Budd owns a 13.2 percent interest in the property. The other new owners are: Somerset ACS LLC (44.7 percent ownership stake); Somerset KSN LLC (32.9 percent); and Somerset Investors LLC (9.2 percent).

The seller was Shoppes at Somerset LLC, based in Des Moines, Iowa. It paid $7.16 million for the property in August.

Richard Craver

IFB Solutions’ appeal deadline now Jan. 17

A federal judge has agreed to extend the appeals deadline for IFB Solutions Inc. to Jan. 17.

A federal appellate court panel ruled on Oct. 18 against IFB’s request that its Winston-Salem optical laboratory remain a mandatory source for eyeglass manufacturing for the U.S. Department of Veterans Affairs.

Instead, the three-judge panel of the U.S. Court of Appeals for the Federal Circuit upheld a lower court’s decision that PDS Consultants Inc. has priority as it relates to the Veterans Benefits Act of 2006.

Potentially at stake is $15.4 million in annual revenue for the nonprofit group formerly known as Winston-Salem Industries for the Blind Inc.

The eyeglass-manufacturing department has 140 employees in Winston-Salem, including 70 who are blind.

Richard Craver

National eyewear retailer opens W-S store

America’s Best Contacts & Eyeglasses has opened a store at 1602 S. Stratford Road, Suite 120, in Winston-Salem.

The retailer provides free eye exams by a professional optometrist with two pairs of eyeglasses for just $69.95.

The retailer has more than 500 locations nationwide.

Richard Craver

Ashley Furniture opens 900th retail store

Ashley Furniture Industries Inc., which has a major manufacturing plant in Advance, said Tuesday its retail division has opened its 900th store.

The milestone Ashley HomeStore location is in Ahuriri Napier, New Zealand. The retailer opened an additional four stores in the country, all on Friday.

Ashley has stores 310 international stores in 54 countries. It took Ashley less than a year to go from 800 to 900 stores.

At last count, Ashley had 1,120 jobs at its 3.8 million-square-foot facility in Advance.

The company pledged in 2016 to create another 454 jobs in Advance as part of an expansion making use of a previously idle 1 million square feet of space.

The goal is to enhance Ashley’s ability to serve consumers along the East Coast.

Richard Craver

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