East Independence Plaza
• ““ * • — •• ' • • ’ ■ ‘ l> - Vrf*t ‘ ' *T« .
Owner Quiet On Rumored Sale
By Herb White
PM Staff Writer
The rumored sale of East Inde
pendence Plaza, a black-owned
commercial real estate property
in Charlotte to an undisclosed
‘ buyer, has one owner keeping
quiet about any dead.
Attorney Melvin Watt, a part
owner along with Dr. Raleigh
Bynum, Dr. Kenneth Chambers
and his brother, New York law
■ yer Julius Chambers, would not
^ confirm the sale of the 17-year
old building or say who is nego
; tiating for the structure. Real
estate sources have said a $7 mil
lion deal with an undisclosed
' white buyer is in the final stages,
1 if not finalised.
I have no comment at this
• time," Watt said. "You’re ask
ing me to look into a crystal ball.
There's not a hell of a lot going on
and there's Just nothing else for
you to write about."
Calls to Dr. Raleigh Bynum, a
part owner who has a practice in
the building, were not returned.
The 85,000-equare-foot struc
' ture, located at McDowell and
Stonewall streets near the In ter
j state 277 loop uptown, sits on some
•5 of the most attractive property in
I''! Charlotte, according to real estate
professionals.
location it everything,**
said John Ramadan, owner of
Ramadan Realty. "That property
is in a prims location; it's down
town, it’s right next to the inter
state and dose to the hotels."
Ramadan said he believes the
speculated sale price is low con
sidering the property's location,
but would not offer an estimation
of how much it should sell for or
why it would sell for so little.
I think (the rumored buyer) •
got a very good deal for it," he
said. "1 feel that $7 million is
low-it should be worth more than
that. They probably jumped at the
chance to buy it."
Hie building, which site on six
acres and was constructed at a
Frito-Lay To Spend MiUions With
Minority-Owned Businesses
DALLAS, Tex.-Frito-Lay, Inc.,
the Dali as-based snack food mepi
ufaeturer, has announced that It
will significantly increase spend
i ing with minority-owned business
es as a result of the success of its
Minority Business Development
(MBD) program. The company
has committed to spend $350 mil
, lion with minority firms over the
! next five years, while also increas
ing its base of minority suppliers.
Frito-Lay spent in excess of $36
million with minority-owned firms
in 1086.
In 1987, we plan to spend 12'
times what ws spent with minority
suppliers just three years ago,”
said James O’Neal, senior vice
president of operation*, Frito-Lay.
"We've found that our MBD pro
gram has a positive impact on all
involved. It makes good business
senes for both Frito-Lay and the
individual vendors.
/For suppliers, our prograiq
provides opportunities for major
contracts as well as access to re
sources which can sharpen their
business skills. For Frito-Lay,.we
increase our supplier base which
increases the competitiveness be
tween bidders. In fact, during the
first year of the program, we re
duced overall operating costa $2
million as a direct result of the
MBD program."
The formal Frito-Lay MBD pro
gram was launched in 1083 with
VOTE, NOV. 3rd
EXPERIENCE INTEGRITY
RON
LEEPER 1
SF' ^‘ a®* ' Annimv' V. * v .
AT • LARGE ’
LCITY COUNCIL
Paid Fbr By The Commute to Elect Leeper
East Independence Plaza, the largMrt black-owned commercial real
s^attj property in Charlotte, opened in 1971.
coat or 93.2 million, opened in
1971. According to Try on Equi
ties Corp.'s April quarterly report
of office space in Charlotte, the
structure has an occupancy rate of
82 percent.
Since a group of doctors
the idea of a modern office com
plex for black professionals, the
building has been known as 'the
black doctor's building' although
other businesses and organiza
tions are located there.
an internal task force of top man
agement representing all functions
within the company. The pro
gram's primary goal was to identi
fy and recruit more minority sup
pliers within the Dallaa/Ft Worth
area. Since that time, recruitment
efforts have expanded well be
yond the Dallaa/Ft. Worth area to
other major cities wfth Fri
to-Lay installations. Currently, aD
Frito-Lay manufacturing, sales
and distribution locations nation
wide are an integral part of pro
gram efforts.
This unique business develop
ment program has grown from
All-Star Cast Supports Gantt
Continued from page 1A
Actually, the real star* won't be
there, but their stand-in promise to
be quite entertaining.
The "Motown ReVue" will be
held at 6:80 p-m., in Grimes
Lounge located in the Student Un
ion Building of Johnson C. Smith
University A few of the local celeb
rities scheduled to perforin are
"Hat" Crosby, Omar Leather-man,
Gerado Stroud, Barbara Warren
and Rubye Wallace. PDY Cater
ing will provide the hor d'oeuvres.
A cash bar will be available.
The fund raiser is being spon
sored by the Committee to Re
Elect Harvey Gantt and all pro
One of the occupants is jMe
chanics and Farmers Bank,
whose branch manager mUjn he
has heard some speculation about
a possible sale, but nothin^sitare.
"We haven't been told anyth
ing about it but we have heard
some rumors," said Don aid
Johnson. "We have a leofltthat
runs through 1993 and we plan to
be here. Even if it is sold, wehave
a lease and I would hope fhaTwe
would stay here." .
simply finding new suppliers to '
actually assisting minority v#.
dors in becoming more successful
business owners. Frito-Lny works
closely with its current minority
suppliers to assist them in maxi
mizing their potential os a Frito
Lay supplier and developing their
individual businesses to be more
competitive in tbe general market
place.
• For example, Frito-Lay execu
tives volunteer their time to advise
minority business owners and ci
vic organisations on ways to en
hance general business techniques
and strategies.
coeds will benefit the Gantt cam
paign. Tickets are tax-deductible
and may be purchased at the door
for $10 per person. .
Mayor Gantt is running for a
third term in the November gener
al election and he needs financial
support as well as votes. Far addi
tional information, call 864-2279
or 894-8477.
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Metrolina Fairgrounds 596-4643
Just off 1-77 at Exit 16A, Sunset RD. First exit north of intersection of 1-77 & 1-85
Blacks Gain N.C. Elected Offices
Continued from page 1A
mayors.
The number of black elected ju
dicial and law enforcement offi
cials ie 23. In addition, blacks hold
66 positions on various local
school boards in the stats.
1 am pleased that the number of
black elected officials is on the rise
in North Carolina because I re
member when there were less
than $53 black elected officials in
1■ __
the country," state party second
vice-chair Clarence Lightner said.
Lightner applauded the
"outstanding service that these of
ficials provide."
"Although there are still areas in
the state's political structure where
blacks have made little gains, the
Democratic Party will continue in
ite effort to involve blacks in all
levels of government in North
Carolina," Lightner said.
Celebrity Fashion Show
for
HARVEY GANTT
FOR MAYOR
rULL—
QSto&i \l
Sunday, October 25,1987
6:00 pm.
Charlotte Marriott City Center
Salon D
CELEBRITY MODELS I Al Rousso, Cyndee Patterson ^
ROn RA?Se!ArHSLWatt' GerqiaJohneon, Geneal Frazier!
Betsy Jordan, D.G. Martin, Charlene Price
Susan Green, Skip Murphy,
COMMENTATOR: Ann Corley & Professional Models Provided By:
STRAITE LINE AGENCY
ENTERTAjMENT: Music by: OTTO JOHNSON & THE COUNTER POINTS
r??2iSXiriIJN^rIA HARE* Commed*an. CALVIN BROWN, Jr.
DONATION $25 • Tickets Available At Headquarters • Door Prizes
PRESENTED BY:
The Special Projects Committee
CYNDEE PATTERSON
City Council At-Large
Cyndee Patterson Believes In Charlotte
i
m Cyndee Patterson beUeves in Charlotte...
■ '.All off Charlotte. ■ ” ™ W,
I Cyndee Patterson has repeatedly shown
■ her commitment to helping provide the
I best possible quality of life in Charlotte
■ for everyone.
We Support Cyndee Patterson For ■
Coy Council At-Large
Dr. Wealey D. Ctement
W. Naaif Majeed
WJfl. "Pete" Cunningham
Charlie Danneily
Dr. Mildred Baxter Darla
Gloria Dnrall
Dr. Robert Albright
Jim Richardson ' ' i
Cathy Chapman Hughea
D.O. Martin
Franklin McCain
Jim Polk
Elizabeth 8. Randolph
Sarah B. Stevenson
p Willie J. Stratford. 8r.
uSSkuiSt* ;t
<▼'*><5^' 'J?* Vy«.'. ' t»*u’ ' , rSjWt*;
CYNDEE
PATTERSON
For
City Council
At-Large
November 3
Paid Jor by the Committee to Re-Elect Cyndee Patterson