Parker House acquires High Point showroom building
September 13, 2013-- Furniture Today,
HIGH POINT — California-based home office and home entertainment specialist Parker House has acquired a showroom building here that it has leased since 2011.
Parker House has purchased this showroom building at 314 S. Main St. in High Point. In addition to the 12,500-square foot building, the one acre property has about 50 parking spaces. There is also room for building expansion, according to Chris Lupo, company president and chief financial officer.
The company acquired the 12,500-square-foot building at 314 S. Main St. from the Swaim family of High Point in August. Officials with the local register of deeds office estimate the property sold for just over $1 million.
"It was the return on investment that made sense," said Chris Lupo, president and chief financial officer. Lupo noted that the company also owns a house in High Point. "With the cost of the market and the dealer base we were seeing, it was worth us making the long-term commitment to High Point."
Before showing at its current location, Parker House leased space at the National Furniture Mart building for about a year. Before then, it had not shown in High Point for four years.
"Las Vegas is still our main show, but with the money we make to show in High Point, we feel the return exceeds the investment," he added. "There is a smaller quantity of dealers here than in Las Vegas, but they are qualified dealers and they are here to buy."
At the Oct. 19-24 High Point Market, the company will offer a variety of new product, including introductions that it has shown at the summer Las Vegas Market. Since many of its High Point attendees don't attend Vegas, they will be seeing it here for the first time, Lupo said.
The introductions include three large entertainment wall systems, a library collection and 12 TV consoles. It also will show six new groups of motion upholstery.
In other company news, Lupo said he will assume the role previously handled by Sam Perone, former senior vice president of sales. Perone, who had been with Parker House for about nine years, left the company in early August.
In addition to his day to day responsibilities overseeing the company, Lupo will oversee national sales and a team of about 30 reps.
Roberta Woodard, vice president of merchandising, will continue to oversee marketing and product development.
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