Mart owners on buying spree

Article Abstract:

Merchandise Mart owners, Vornado Realty Trust and Merchandise Mart Properties Inc. (MMPI), added another property to their burgeoning portfolio of home-furnishing related properties in the US. Aside from Merchandise Mart, Vornado and MMPI owns and manages the Washington Design Center and Washington Office Center in Washington, DC, and Vornado owns the Architects and Designers Building in New York City, NY. Vornado Trust and MMPI acquired Market Square Properties in High Point, NC, to become a player in the home furnishings market.

Comment:

Along w/ Vornado Realty Trust, have added Market Square Properties to growing portfolio of home-furnishing related properties

United States, Acquisitions & mergers, Real Estate Invest Trusts, Real Estate Investment Trusts, Merchandise Mart Properties Inc., Vornado Realty Trust

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Choice Seating repositions

Article Abstract:

Choice Seating Gallery's strategy of relocating unprofitable stores to more profitable areas will result in the closure of five stores. Two of these outlets located in Baltimore is set to end liquidation sales some eight weeks after the Oct. 14, 1998 start-up date while sales at the three stores in Philadelphia will cease 12 weeks after the said date. An estimated $5 million to be produced from the sales will be used by the company for redeploying the stores in better locations such as New York, Pennsylvania and New Jersey.

Comment:

Relocating unprofitable stores to better areas will result in closure of five stores, two in Baltimore & three in Philadelphia

Pennsylvania, Maryland, Choice Seating Gallery

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Ethan Allen returning to Little Rock area

Article Abstract:

Ethan Allen is launching a new store in Little Rock, Arkansas after being absent from the area for three years. The company-owned store will measure out to be 14,000-square-feet.

Arkansas, Furniture and Homefurnishings Stores, Ethan Allen Inc.

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