Showroom building has new owner

Jun. 27, 2013 @ 02:47 PM

A High Point Market showroom building that’s been in limbo for a year because of a bankruptcy filing by its former operator has a new owner.
Samson Investment Holding, which is associated with a home furnishings company that has properties in High Point, filed paperwork in Guilford County indicating its interest in buying the Hamilton Square showroom. Samson indicates in a Guilford County Register of Deeds memorandum that it has “entered into a contract” to buy the 115,000-square-foot building at 101 S. Hamilton St. in the downtown showroom district.
The deal was finalized Thursday afternoon, said Jeffery Chang, an executive with the company.
Kevin O’Connor, president and chief executive officer of Samson Marketing, told The High Point Enterprise that his company views the Hamilton Square property as a good investment. It’s still preliminary to discuss Samson’s specific intentions for the building, O’Connor said.
The odyssey for Hamilton Square began last summer when the property was supposed to have been sold in foreclosure. But the foreclosure sale through Guilford County was canceled when the former local owner of the building, McDonald Capital Properties Alpha, filed for Chapter 7 federal bankruptcy protection.
In February, the main noteholder on the building, Capital Bank, took control of the property following an auction overseen by the U.S. Bankruptcy Court for the Middle District of North Carolina.
Hamilton Square, which opened in 1986, has about a dozen exhibitors, according to its website. | 888-3528