High Point Showroom Buildings Sold; Transition Staff Named

Plaza SuitesPlaza Suites

HIGH POINT, N.C.-As HFN reported yesterday, an entity called the High Point Acquisition Company has purchased the the showroom buildings Market Square Complex, Hamilton Market, 300 S. Main Street, Furniture Plaza, Plaza Suites, and the National Furniture Mart from MMPI properties for $139.5 million.

These buildings and tradeshow spaces encompass 2.1 million square feet and represent some of the best known locations and properties within the High Point Market. The buildings had been in receivership since late last year, according to press reports.

Individuals involved in the High Point Acquisition Company were not disclosed.

"This acquisition brings long-term stability to these assets and their operations," said a statement from High Point Acquisition Company. "This transaction is backed by a well-capitalized investor who believes in the growth trajectory of this industry and the ongoing success and vitality of the High Point Market."

In January, it was learned that the International Home Furnishings Center, another High Point showroom building, had reached an agreement to be sold to a group called IHFC Acquisition Company.

The industry has speculated that the competing World Market Center in Las Vegas is behind the deals. A World Market Center spokesperson did not respond to questions regarding its involvement in the purchase.

The statement from High Point Acquisition Company said that a transition leadership team has been established and will be led by Chief Transition Officer Randy Eller, a long-time furniture industry consultant, along with Steve Johnson, vice president of administration/assistant general manager. They will be supported by Brian Bunch, vice president of leasing/assistant general manager, Karen Olson, vice president of marketing, and Paul Sperano, director of operations, who are all on-site in High Point.

The spring High Point furniture market opens on Saturday.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017


    September 2017


    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.