Davis sets 4th High Point building
By Larry Thomas -- Furniture Today, February 20, 2005
High Point — Mississippi furniture executive and High Point showroom owner Lynn Davis plans to renovate another vacant downtown building here and convert it into permanent showroom space.
His latest purchase, a 45,000-square foot building at Centennial and Russell streets, will be known as Center Point on Russell. Renovations will be completed in time for the April market, and Davis said his Mississippi-based furniture company, Davis International, will be the anchor tenant.
The purchase boosts his showroom holdings to slightly more than 500,000 square feet in four buildings, and it makes Davis the third-largest showroom owner in High Point. Only the International Home Furnishings Center and Merchandise Mart Properties Inc., whose holdings include Market Square, Furniture Plaza and the National Furniture Mart, own more High Point space.
Davis' largest holding is the 250,000-square-foot Center Point. He also owns Center Point on Manning and Center Point on Centennial. Those buildings were vacant structures that Davis acquired and renovated.
"The demand for space is there," he said. "I'm still confident about the future of High Point."
He said he believes High Point can fend off the challenge from the new Las Vegas market because "you've got too many manufacturers like myself who own real estate in High Point."
Davis International, which had a showroom in Center Point on Manning, will occupy 25,000 square feet in the new Center Point on Russell. The remaining space will be leased to two other manufacturers whom he declined to name.
Davis said one asset of Center Point on Russell is the adjoining 1,400-space parking lot.
"I have the largest free parking lot in High Point," he quipped.
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Davis sets 4th High Point building
Feb 23, 2005
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