Natuzzi showroom for sale

Nov. 30—HIGH POINT — Italian furniture company Natuzzi has offered its showroom for sale but says it plans to remain an exhibitor at High Point Market.

The showroom, in the design of a ship at W. Commerce Avenue and S. Elm Street, has been on the market since Aug. 29, according to the real estate listing for the property.

Natuzzi Americas plans to lease the entire 121,756-square-foot building back from the new owner for up to 15 years, with multiple renewal options, the listing said.

"Located in the heart of Downtown High Point, also known as the Furniture Capital of the World, the Asset is of critical importance to Natuzzi due to its presence in the High Point Furniture Market," said the listing, by a broker called Institutional Property Advisors, a division of Marcus & Millichap.

There is no asking price included with the listing.

In its most recent quarterly financial report, Natuzzi said it intends to sell the showroom as part of a restructuring to boost sales, which were down 35.8% compared to the same period last year.

"We are actively engaged in the process to accelerate the sales of our non-strategic assets, the most relevant being our iconic building located in High Point," the company wrote in the report.

The company said the sales proceeds will be used to accelerate the expansion of its retail business.

It says it has 678 stores globally and recently opened flagship stores in San Diego, Miami, Atlanta and Houston.