Palliser, partner buy C&D
By Furniture Today Staff -- Furniture Today, October 28, 2001
HIGH POINT — Palliser Furniture, owner of the 220 Elm showroom building here, has teamed with a real estate investment company to buy 220 Elm's next-door neighbor, the Commerce and Design Building.
The purchase gives Palliser and Greensboro, N.C.-based HVM Management more than 610,000 square feet of downtown High Point showroom space. Two local newspapers reported the price was $15 million.
"This investment underscores our commitment to the High Point market," said Palliser President Art DeFehr. "Our joint ownership will enable us to provide enhanced marketing and other services to our exhibitors and their customers."
The nine-story C&D Building, which opened in 1987, has more than 250,000 square feet of exhibit space. The 220 Elm facility, which opened in April, has about 360,000 square feet of space. HVM Management has managed the C&D Building since 1991, and will continue to provide leasing and management services.
C&D and 220 Elm are linked by a skywalk that also connects those buildings with Market Square and Furniture Plaza, both owned by Chicago-based Merchandise Mart Properties Inc.
The C&D's previous owner, Donaldson, Lufkin & Jenrette, had been trying to sell the facility for more than a year.
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