David Michael buys High Point building
Heath E. Combs -- Furniture Today, March 28, 2011
HIGH POINT — High-end case goods, accent, upholstery and lighting importer David Michael Inc. has purchased the 16,680-squarefoot property at 521 N.
Hamilton St. here, sometimes known as the Bevan Funnell building.
David Michael purchased the building from Pine State Inc., which had bought the property in 2007 from Bevan Funnell. County records indicate that the building was sold for about $650,000.
At present, the building is divided into small showrooms, said Michael Srougi, president of David Michael, adding that the company plans to occupy the entire building. He said the company plans to gut the building and renovate it, and hopes to exhibit in the facility by the October market.
For the April market, David Michael will remain in the showroom it has leased for several years at 310 N. Hamilton St., S-307.
Srougi said he believed now was an opportune time to buy property in the city.
"I just feel like High Point is going to be the furniture market in the future. And I just felt we needed to have our own showroom. We've been thinking about it for a good while and it's a good opportunity to do it right now," he said.
The sale is the second of a showroom building in High Point in recent months. Case goods and upholstery importer and manufacturer New Classic Home Furnishings purchased the 30,000- square-foot PCH Building at 135 S. Hamilton St. and a 10,000-square-foot building behind it for future expansion for about $4 million.
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