Centrex Properties was established by the Kadis family in Goldsboro, NC around 1905, when C.Z. Kadis settled there from Durham. What started as a single retail-clothing store opened by his son, Isaac, grew into a small group of retail clothing stores over the next 60 years located in Eastern NC. In the mid-to-late 60’s following the entry of the third generation into the company by Isaac’s two sons, Harold, and Robert, the family exited the retail business and progressively entered the real estate development business. Subsequent developments, and acquisitions, over the next 50 years, included shell homes, apartments, limited service hotels, land development, office buildings, and retail shopping centers.
In 2005, Centrex relocated the company from Goldsboro to Raleigh, NC, to broaden the focus of the company on larger urban areas in North Carolina. Many years later, the company exited the hotel business, to consolidate and concentrate its activities in retail shopping centers and office buildings. The company is now led by the fourth generation of the family Jonathon and Danny Kadis, both having joined the company in the early 1990’s and who are continuing the company’s growth through acquisitions and new developments, as opportunities present themselves.
The Kadis Family first settled in Goldsboro in 1905. For the next several decades the Family business grew and evolved into seven credit clothing stores, two shoe stores and a finance company located throughout Eastern NC.
Reinvigorated by the 3rd generation of Kadis family members to enter the business, the company branches out of the retail business by initially entering the shell home business where it built over 900 homes in NC. This change in tactic ultimately leads the family to exit the retail clothing business and focus on real estate development. The company builds its first office development, Colonial Square, which consisted of 12,000 square feet in downtown Goldsboro NC. In mid 60's the company, now operating as Commercial Realty, Inc., built several small strip centers for Kwik Pik, a growing convenience store chain which later became Fast Fare.
A strategic alliance is formed with the Norwood Family – also from Goldsboro – and the two families create the Carolina Development Company (CDC) partnership that would last for the next 20+ years. CDC acquires a 40 acre tract of land in east Goldsboro upon which they developed Spence Avenue ultimately connecting two main arteries - Ash Street and Highway 70. CDC went on to develop several retail shopping centers throughout Eastern NC for clients such as Winn-Dixie, King's Dept. Store and Heilig-Meyers Furniture. In addition to its shopping center developments, CDC invested in many other free standing restaurant sites, office buildings and other land sites.
Commercial Realty develops several apartment communities in Goldsboro and continues with its commercial development to include more office and retail properties in Goldsboro and throughout Eastern NC. In the early 80's, the Kadis Family develops its first limited service hotel, a Comfort Inn, in Goldsboro. An acquisition of a Hampton Inn in Hendersonville, NC a few years later, prompts the creation of an in-house hotel operations company, The Hotel Group, Inc. In the late 80's, Commercial Realty acquires its first property in the Raleigh/Triangle market of NC – which consisted of a 30,000 square foot office park.
In the early 90’s, today’s managers, Jonathon and Danny Kadis join their fathers in the family business representing the 4th generation of Kadis family members working in the business. In 1995, Carolina Development Company was dissolved, prompting the creation of Centrex Properties, Inc., to manage its diverse portfolio which then consisted of retail, office and hotel properties. For the later part of the decade, the company went on to build three more limited service hotels in Raleigh, Goldsboro and Wilmington, NC, and continued to develop its retail and office portfolio in Goldsboro.
In the early 2000's Centrex decides to diversify its real estate portfolio out of Goldsboro to other NC markets! Over the course of the decade, the majority of its Goldsboro assets were sold and traded into office and retail shopping centers located primarily in the Research Triangle region of NC. Towards the latter part of the decade, the company relocates its corporate office and day-to-day operations to Raleigh, NC leaving Goldsboro after almost 100 years.
Centrex enters into a partnership with the Midland Atlantic Company for the development of an 88 acre tract of land in Cary NC. The partnership goes on to develop a Harris Teeter and Walgreens anchored shopping center, Tryon Village. In 2013, the Kadis family decides to divest of its hotel properties and primarily focus on grocery anchored shopping centers. The remaining hotel properties are sold and traded into retail shopping centers located in North and South Carolina. Many more exciting things to come!
As co-leaders of the company, Danny and Jonathon strive to create an environment that empowers its staff to grow in their respective areas of expertise that will lead to optimal results for its clients and investors. Despite the company’s broad growth since its inception in the 1960s, Danny and Jonathon's commitment to run the company as a small business is a true testament to their roots and allows them to maintain the values that have perpetuated their families’ business.