International Market Centers has completed its acquisition of five furniture and home accessories showroom buildings in High Point, N.C. They include Showplace, Showplace West and three buildings on North Hamilton Street.
Financial details of the transactions, which were announced May 3 and completed in late July, were not disclosed.
With these sales completed, IMC now owns 18 buildings with more than 11.5 million gross square feet in High Point and Las Vegas, the two largest furniture and home accessories markets in the United States. IMC has headquarters in both cities.
Last spring, the IMC purchased the International Home Furnishings Center and eight Market Square complex properties in High Point. It already owned the World Market Center in Las Vegas.
“We are pleased that this unprecedented combination of properties is complete and that these attractive assets have come together under one structure and management team,” said Robert Maricich, IMC chief executive officer. “With the addition of these five premier facilities to our portfolio, we can now devote our focus to our primary mission—creating the most effective, efficient and compelling platform for our industry.”
