Feb. 27—HIGH POINT — An out-of-state real estate investment firm has purchased the properties of a High Point metal fabrication company.

New Market Strategies of Stuart, Florida, last week paid $6.9 million for four tracts that include two facilities of Metal Works of High Point: its headquarters at 918 W. Martin Luther King Jr. Drive and its powder-coating plant at 1245 Hickory Chapel Road.

The seller was a limited liability company managed by Metal Works owner and President John Hall, who could not be reached for comment Tuesday on whether the purchase included the business as well as the properties.

According to a real estate listing from October 2023, the properties were offered in a sale/leaseback arrangment in which Metal Works proposed to enter into seven-year leases for both of its facilities with an investor owner.

“Metal Works of High Point Inc., a family owned company, was founded in 1992 and is a financially strong metal components manufacturer,” according to the listing.

The company has been expanding in recent years, including its 2022 acquisition of the Hickory Chapel Road site, which consists of a 37,000-square-foot building on 6 acres.

Metal Works “invested extensively in deferred maintenance items including a new roof and replacing 40% of the roof decking. They have also upfitted the interior and installed a multi-million-dollar powder coating line for business expansion,” the listing stated.

The company was authorized for incentives to assist with the expansion, including a $100,000 state grant and $75,000 from the city of High Point to help with upfitting costs at the building.