Monitoring the economic pulse of the Triad
Greensboro builder loses properties to foreclosure SunTrust Bank is in the process of taking possession of seven properties under development by Greensboro-based Gary Jobe Builder. The bank bid $343,000 for a tract of land on North Elm Street originally obtained by the residential home builder through a 2003 loan in the amount of $1.2 million executed by Central Carolina Bank, which became SunTrust through a merger. The bank is also taking possession of six residential lots in the Henson Forest, Henson Farms, Notting Hill and Fairfield subdivisions.
The bank bid a total of $826,000 last week for the seven properties, which were originally purchased by Gary Jobe Builder through loans from 2001 to 2005 totaling $2.1 million. State law allows up to 10 days for prospective buyers to submit upset bids at the Guilford County Courthouse special proceedings office. If there are no buyers, SunTrust will complete the sale.
SunTrust spokesman Hugh Surh said the bank would decline to comment because they are not at liberty to discuss client relationships. Jobe did not return a phone call for this story on Monday.
Triad Yoga takes up new residence Triad Yoga has relocated its main studio from Spring Garden Street to West Market Street.
The new location is 3940 W. Market St. near Jan’s House. A second studio is located on College Road near Guilford College.