Planning ahead

ASHEBORO — The former Klaussner Furniture Industries cutting plant and distribution center on US 220 Business South has been acquired by Schwarz Properties with a tenant in mind.

In an interview, Frank Edmondson, president of Schwarz Properties, said that the potential lease was the result of a “strong marketing campaign to bring customers into the area.” He said one of Schwarz’s customers is expected to lease approximately 225,000 square feet for its logistics warehousing. 

News of the acquisition was made public earlier in May when the company sent out the following press release on May 2:

“Schwarz Properties announced today the acquisition of an approximately 400,000-square-foot-plus industrial building complex located at 4400 and 4402 US 220 Business South in Asheboro. The buildings will be held for lease with immediate availability for occupancy.

“The property, previously occupied by Klaussner Furniture Industries, was a site for both manufacturing and distribution of finished goods. It features two main structures of 300,000 square feet and 100,000 square feet suitable for warehousing, distribution, and/or manufacturing. Located within 30 miles of both the Toyota Battery plant in Liberty and the Wolfspeed semiconductor plant in Siler City, it will be a perfect fit for a future or existing company. 

“The property features 75 dock-high doors between the two structures, ESFR sprinkler systems, ceiling heights up to 36 foot, abundant power and sits on approximately 62 acres with ample parking area for employees, trailer storage and/or plant expansion. The buildings offer a range of configurations to accommodate any potential tenants’ needs.”

The release also included comments from Edmondson:

“We are excited about this addition to our portfolio. Our ability to locate and acquire properties, such as this, for less than market value allows us to aggressively market assets well below market lease rates. These buildings are in excellent condition and in a great location. 

“Central North Carolina has experienced tremendous growth and this will only assist with the continued expansion to the region. With our experience and network, we look forward to bringing in new business to the area or help an existing business grow their footprint.”

Now Schwarz is looking for a manufacturing company, such as an ancillary business to Toyota or Wolfspeed, Edmondson said last week.

“We’d love something that’s tied in with Toyota or Wolfspeed,” he said, but Schwarz will consider all potential clients. “It’s perfect for warehousing and distribution. We feel very good that it’s going to attract a new business to the area.”

Klaussner Home Furnishings, with its main campus on Lewallen Road, Asheboro, announced in a letter to employees that it would be closing for good on Aug. 7, 2023. The private equity firm, Monomoy Capital Partners, had bought the furniture manufacturer in 2017 from a management team that had purchased the company from Hans Klaussner in 2011. Klaussner had bought Stuart Furniture Industries in 1979 from Stuart Love.

Last September, word came out that VPC Group USA, a producer of foam and fiber material, was purchasing Prestige Fabricators, another Klaussner division. The reopening of that plant was expected to employ between 50-60 workers.