Merchandise Mart Properties in High Point, North Carolina, was officially sold for $139.5 million to a buyer whose name has not been revealed.
"This transaction is backed by a well-capitalized investor who believes in the growth trajectory of this industry and the ongoing success and vitality of the High Point Market," according to a statement released Thursday.
The purchaser, identified as High Point Acquisition Co., assigned a team including Randy Eller and Steve Johnson to work with former MMPI High Point executives Brian Bunch, Karen Olson, and Paul Sperano through the transition.
MMPI in the aquisition make up 2.1 million sf of showroom space and include Market Square complex, Hamilton Market, 300 S. Main St., Furniture Plaza, Plaza Suites and the National Furniture Mart.
Another unnamed investor is looking to purchase the International Home Furnishings Center (IHFC) for $275 million.
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