High Point, NC – (January 16, 2015) – International Market Centers (IMC) announced today that the company has purchased the Commerce & Design (C&D) building in downtown High Point. Financial details of the transaction were not disclosed.
“Our acquisition of the C&D building adds further depth and strength to our showroom footprint in High Point,” said Bob Maricich, chief executive officer of International Market Centers (IMC). “The building has a strong tenant base and is an important addition to our portfolio.”
The C&D building is strategically located across from the Suites at Market Square with an entrance in the covered walk-way connecting IMC’s Main Street buildings and Market Square & Suites complex. With the C&D acquisition, IMC now owns and operates 14 of the primary showroom buildings in the heart of High Point Market, spanning more than 6.7 million gross square feet.
High Point properties include:
- International Home Furnishings Center (IHFC)
- Historic Market Square
- Market Square Textile Tower
- Suites at Market Square
- Plaza Suites
- Furniture Plaza
- National Furniture Mart
- Hamilton Properties – 200/320/330
- 200 North Hamilton
- 320 North Hamilton
- 330 North Hamilton
- Hamilton Market
- 300 South Main Street
- Commerce & Design Building
Maricich added, “We are committed to providing the most compelling, effective and efficient venues to do business in our industry; and with this acquisition, we can now offer manufacturers even more showroom options and further augment IMC’s value proposition and commitment to High Point.”
Since 2011, IMC has invested more than $27 million in building upgrades, service enhancements, and other capital expenditures to ensure the future strength and vitality of the High Point Market. The company has earmarked nearly $2 million for the C&D building for the next five years for upgrades, maintenance and other improvements.
With 6.7 million square feet in High Point and the 5 million square foot Las Vegas Market campus, IMC is able to offer a truly national, and international, sales platform for the home furnishings industry. For more information, visit www.imcenters.com.
About International Market Centers, L.P.
International Market Centers, L.P. (IMC) is the world’s largest operator of premier showroom space for the furnishings, home décor and gift industries. IMC owns and operates 11.7 million square feet of world-class exhibition space in High Point, N.C. and Las Vegas, including the 14 primary buildings at the High Point Market. In addition, IMC operates the Las Vegas Design Center, a year-round resource open to both the design trade and consumers with more than 40 showrooms and hundreds of designer brands. IMC’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home décor and gift industries. For more information, visit www.imcenters.com.