Why We’re Still Investing in North Carolina
Last week, I was shocked and disheartened to learn that North Carolina passed a new law known as HB2 that eliminates anti-discrimination protections for lesbian, gay, bisexual and transgender (LGBT) people. As the founder of an LGBT-owned company, an openly-gay man dedicated to diversity and fostering a culture of inclusiveness, to say that I was disappointed to see such backward legislation become law would be an understatement.
Last month, we made our first acquisition in North Carolina with the purchase of Chatham Crossing, a 96,155-squarefoot neighborhood shopping center in Chapel Hill. And we closed on a second acquisition, in Charlotte, at Johnston Road Plaza, a 79,508-squarefoot grocery-anchored shopping center. North Carolina is home to a booming retail market with a lot of opportunity for sustainable growth and that is why we’ve been looking to expand our real estate portfolio there.
Despite some companies and governments banning non-essential travel restrictions and imposing other boycotts to the state of North Carolina since HB2 passed, we won’t change our investment strategy in the state. Here’s why:
Diversity and inclusivity benefit companies’ bottom lines, and it also benefits the economic vitality of a state like North Carolina. While we are fully supportive of those calling for a repeal of the law, we will continue to invest in North Carolina so that we can play an impactful role in showing what a strong, savvy, smart, LGBT-led company looks like.