Inscape sells furniture factory, leases it back
Inscape Holland Landing Furniture Factory Floor

Inscape's flagship 307,000-square-foot furniture factory is situated on 33.6 acres.

HOLLAND LANDING, Ontario – Inscape Corp., No. 122 in the FDMC 300, completed a sale and leaseback agreement of its flagship factory.

The office furniture maker said it sold the 307,000-square-foot factory and warehouse space situated on 33.6 acres to an unnamed third party for CDN$32,750,000. The sale included a 10-year leaseback agreement for Inscape to continue using the facility with two extension options of five years each. The company indicated it will not require all of the space moving forward.

“The completion of this transaction remains consistent with our strategic plan and is another material step in our efforts to improve operations and the financial profile of Inscape,” said Eric Ehgoetz, CEO. “Further details on our planned footprint reduction within Holland Landing and expected efficiencies to be derived will be detailed in subsequent press releases after completion of our full review currently in progress.”

Inscape Hollands Landing Factory

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Rich Christianson | President/Owner/C-Level

Rich Christianson is the owner of Richson Media LLC, a Chicago-based communications firm focused on the industrial woodworking sector. Rich is the former long-time editorial director and associate publisher of Woodworking Network. During his nearly 35-year career, Rich has toured more than 250 woodworking operations throughout North America, Europe and Asia and has written extensively on woodworking technology, design and supply trends. He has also directed and promoted dozens of woodworking trade shows, conferences and seminars including the Cabinets & Closets Conference & Expo and the Woodworking Machinery & Supply Conference & Expo, Canada’s largest woodworking show.