Tuesday, January 8, 2019

Investor Buys Royal Furniture Building

Posted By on Tue, Jan 8, 2019 at 11:57 AM

click to enlarge The Royal Furniture building at 122 South Main. - DCA
  • DCA
  • The Royal Furniture building at 122 South Main.
A New York investor has purchased the Downtown Royal Furniture building, but the store owners have no immediate plans to move.

The building at 122 South Main was purchased recently by Tom Intrator. He recently purchased the 18 South Main building, the vacant, former home of Murray’s Clothing. Intrator owns seven apartment properties here for a total of 1,630 units.

“This Royal Furniture space is particularly compelling for ground-floor retail and either hospitality, residential, or office space above,” Intrator said in a statement. “We aim to use discretion in verticality — building up, not out.”

He said the building was attractive as it sits on the trolley line and is close to the Orpheum Theater and Beale Street. For the building’s future, “we’re exploring all options,” Intrator said.

“With the momentum that is currently growing in Memphis, Downtown is increasingly attractive to investors,” said Jennifer Oswalt, president and CEO of the Downtown Memphis Commission. “We welcome the opportunity to work with developers like Tom who have real vision, not just in property acquisition but in supporting and enhancing the local culture of Downtown through thoughtful tenant-mix and experiences.”

The building was constructed in 1948 and has long been the retail showroom for Royal Furniture.

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