Investor Pays $16 Million For High Point Building

Furniture World Magazine

A Charlotte investor this week finalized the purchase of a membership interest in the furniture showroom building Market on Green for $16 million. The sale was orchestrated by Audie Cashion, president and broker of Alpha World Properties. While the entire building was initially listed for sale by owner Greenham Investments LLC, it later was determined that a minority stake in the partnership would be sold. Cashion located the buyer within four months of that listing change – Dr. Gary Waldman, a physician/investor with a practice in Charlotte, and who commutes from Chicago. “We finalized the listings and started marketing the whole building in the spring of 2004,” says Cashion. “Through our unique fast-track marketing campaign methods, we received six offers (three of which were full price or more) and 42 interested parties from the U.S. and internationally. This transaction is yet more proof that the strong High Point market is in position to really take advantage of some of these nontraditional methods of marketing real estate.” The building is located on the south side of the International Home Furnishings Center (IHFC) at 212 E. Green St. and includes one acre of off-site parking on West Grimes Ave. The property is six stories tall and approximately 174,000 sq. ft. in size. About Alpha World Properties, LLC Alpha World Properties based in High Point, North Carolina, is a highly personalized, commercial real estate firm focused exclusively on fast-track marketing, property and site location, and sale leaseback transactions. As a native of High Point with extensive international experience, President Audie Cashion is dedicated to the dynamic and smart growth of the Piedmont Triad and North Carolina.