Vaughan-Bassett, Bassett Mirror Extend Leases At IHFC

Furniture World Magazine

The IHFC building in High Point announced that Vaughan-Bassett Furniture Company recently signed an extended lease agreement with the International Home Furnishings Center. Long a dominant presence on the tenth floor, Commerce Wing of the IHFC, Vaughan-Bassett will also expand its space, according to Doug Bassett, Vice President of Sales. “The economy no doubt has affected the entire industry,” commented Bassett, “but now is not the time to pull back. We have a lot of confidence in our products and our people. We plan to push forward and work hard to secure new market share.” However, signing a long-term lease with IHFC, Bassett said, was merely a reflection of the “facts on the ground. IHFC is where the vast majority of our customers spend their time during market. It’s where are customers are and always have been.” Similarly, Bassett Mirror Company extended its lease with the IHFC to 2015. “This (IHFC) is where we want to be,” said Spencer Morten III, Bassett Mirror’s CEO. With its showroom occupying the entirety of the Green Wing first floor and lower level, the company sees its presence in the IHFC as critical to keeping its products in front of key customers. “IHFC is the centerpiece of High Point Market. We don’t see that changing. In fact, we see their influence growing which is why we feel confident in this long-term agreement.” Opening in 1921, IHFC, formerly the Southern Furniture Exposition Building, was the original showroom building in High Point and after 88 years of expansion remains the centerpiece of the world’s largest home-furnishings trade show that attracts more than 90,000 participants twice a year to 2,000 showrooms covering 11.5 million square feet. IHFC alone is home to 650 of the leading home-furnishings manufacturers, including 13 of the top 20 companies, and covers 3.5 million square feet.