The Atrium up for sale
By Thomas Russell -- Furniture Today, May 29, 2005
High Point — The Atrium Furniture Mall, a longtime retail destination here for out-of-town furniture shoppers, is for sale.
The 223,000-square-foot property at 430 S. Main St. is listed on Alpha World Properties' Web site for $27.2 million.
On 2.96 acres, the four-story building can be expanded by two floors, or about 90,000 square feet, said Audie Cashion, president of Alpha World Properties. It also has 163 parking spaces.
As recently as August 2003, the mall was 100% leased with 26 stores and a café. But a slow economy and competition from area furniture stores has caused the mall to lose sales and tenants, its owners said.
Placards inside the building show no tenants on the first and fourth floors. The second and third floors have 14 tenants listed. They include Georgian Lane, Leather Land USA, Kagan's, Wood Armfield, Sina Oriental Rugs, A Land of Furniture, Far East Furnishings, American Drew, Klaussner Home, Decorator's Choice, American Reproductions, Leather and More and Spring Air Bedding and Sansegal Home Designs.
Sansegal, a case goods importer, leases its space as a showroom during furniture markets.
Mall Manager Jim Wall said a café that closed last year will soon reopen as a fast-food restaurant.
Building owner Steve Ikerd said he likely could fill the building with retail tenants, but wants to test the market for any other interest. Ikerd also said he wants to focus on other properties he owns in Hickory, N.C., including the 350,000-square-foot Catawba Furniture Mall.
He said he has gotten offers to buy the building through the years, but the time wasn't right.
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Atrium listed for sale at $27.2 M
May 24, 2005
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