A prominent furniture showroom in downtown High Point has been sold for $12 million by its former owner, Italian furniture brand Natuzzi. The distinctive ship-shaped building, long considered a landmark in the city's furniture district, has been acquired by a group linked to one of Natuzzi's founders.
The sale forms part of Natuzzi's ongoing efforts to divest non-strategic assets, a move the company first announced in 2023. The decision reflects a broader restructuring strategy aimed at addressing ongoing financial challenges, including deepening losses in recent years.
The building has served as Natuzzi's flagship showroom during High Point's major furniture markets and has been a notable presence in the city's commercial real estate landscape. The identity of the acquiring group has not been publicly disclosed beyond its association with the company's founding interests.
High Point, widely recognised as a key hub for the global furniture industry, has seen a number of major property changes involving international and domestic furniture brands over recent months. The sale of the Natuzzi building continues this trend, suggesting evolving strategies among manufacturers to streamline operations amid shifting market dynamics.
The building's future use has yet to be confirmed, but the transaction underlines ongoing interest in prime commercial space in High Point.
Source: www.bizjournals.com