IMC Acquires C&D Building in High Point

January 19, 2015  by in Acquisition, Industry   

Financial details of the sale were not disclosed.

The building houses 27 exhibitors, and IMC said it has earmarked $2 million for upgrades, maintenance and other improvements for the building over the next five years.

“Our acquisition of the C&D building adds further depth and strength to our showroom footprint in High Point,” said Bob Maricich, CEO of International Market Centers. “The building has a strong tenant base and is an important addition to our portfolio.”

Located across the Suites at Market Square, the C&D building is located across from the Suites at Market Square, also owned by IMC, 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 showroom buildings in the heart of High Point Market, spanning more than 6.7 million gross square feet.   

International Market Centers acquired the International Home Furnishings Center, Showplace, Plaza Suites, Furniture Plaza, National Furniture Mart, Hamilton Properties 200/320/330, Hamilton Market and 300 S. Main Street in May 2011.

“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,” Maricich said.

In November, the company filed plans to take the company public with plans to raise $200 million through stock sales. No date has been set of the IPO.