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DGSE all set to own larger facility in Dallas, Texas
06 Jul '07
2 min read
DGSE Companies Inc which wholesales, retails and auctions fine watches, jewelry, diamonds, precious metal and rare coin products via traditional and Internet channels announced that has reached a definitive agreement to sell its Corporate Headquarters in Dallas, Texas to the Texas Department of Transportation for a cash purchase price of $1,299,990.
Additionally, DGSE announced its agreement to purchase over 3 acres with showroom and office facilities totaling 17,962 square feet for $3,000,000.
“We are very delighted to have concluded a transaction at an attractive price for the facility we have owned and occupied for over 20 years,” noted William H. Oyster, President and Chief Operating Officer of DGSE Companies Inc.
Mr. Oyster continued, “The sale will result in a long-term capital gain for the company and our purchase of a much larger fully developed property will allow us the facilities to consolidate the infrastructure necessary to support our much larger size and nationwide operations."
"The new location will serve as headquarters, internet and IT center, a new and modern showroom with customer parking for almost 200 vehicles and state of the art auction facilities."
We will be able to house our growing internet segment, perform onsite auctions, process a far greater dollar volume in jewelry, fine watches, rare coins, precious metals and service our customers nationwide in a more cost effective way. The new facilities will also allow us to accelerate the integration of our recently completed acquisition of Superior Galleries operations.
"We expect the purchase of the new property to close in the 4th quarter of 2007 and the sale of our headquarters closed in the third quarter of 2007. By agreement with TXDOT, we will continue to occupy our current facility until January of 2008.”
Additionally, DGSE announced its agreement to purchase over 3 acres with showroom and office facilities totaling 17,962 square feet for $3,000,000.
“We are very delighted to have concluded a transaction at an attractive price for the facility we have owned and occupied for over 20 years,” noted William H. Oyster, President and Chief Operating Officer of DGSE Companies Inc.
Mr. Oyster continued, “The sale will result in a long-term capital gain for the company and our purchase of a much larger fully developed property will allow us the facilities to consolidate the infrastructure necessary to support our much larger size and nationwide operations."
"The new location will serve as headquarters, internet and IT center, a new and modern showroom with customer parking for almost 200 vehicles and state of the art auction facilities."
We will be able to house our growing internet segment, perform onsite auctions, process a far greater dollar volume in jewelry, fine watches, rare coins, precious metals and service our customers nationwide in a more cost effective way. The new facilities will also allow us to accelerate the integration of our recently completed acquisition of Superior Galleries operations.
"We expect the purchase of the new property to close in the 4th quarter of 2007 and the sale of our headquarters closed in the third quarter of 2007. By agreement with TXDOT, we will continue to occupy our current facility until January of 2008.”
DGSE Companies Inc
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