Bossong wants to sell property, then re-lease it to keep business going

ASHEBORO — Bossong Hosiery management wants to sell the property at 840 W. Salisbury St. and lease back a portion.

Huntley Bossong, president of the company, led a group of city officials on a tour of the buildings on Aug. 3, telling them the intent is to sell the property but lease back part of it to continue manufacturing its products. He said the new owner would likely use the other part of the facility or lease it to another business.

A city official said the walk-through inspection of the buildings was the result of some interest by Asheboro to purchase the property. However, another bidder is ahead of the city, and Asheboro has not entered a bid on the property. There would need to be more discussion on the issue, with some City Council members of the opinion that more funds need to be spent on streets and infrastructure rather than buying property.

The reason for selling, Bossong said, is to raise capital. However, he said the business is doing well but is much smaller than in previous years, and that there is unused equipment they need to get rid of. 

He estimated that currently there are some 150 employees.

According to the company’s website, www.bossonghosiery. com, the business is “one of the few remaining vertically integrated facilities of its kind in North America.” It was founded in 1927 by Charles Bossong, Huntley’s grandfather. The third-generation company manufactures fashion hosiery and compression wear. Some industry partners are Spanx, Lane Bryant, QVC, Danskin, Medline and Curad, among others.

Total size of the buildings is 131,536 square feet on approximately 9.8 acres. Once a sale is completed, Bossong wants to “lease back 92,768 square feet for a 10-year term at a market lease rate basis,” according to the real estate company, CBRE. “The buyer will be left with a very functional, fully air-conditioned 38,768 square-foot warehouse to lease to a third-party or utilize for its own purposes.”

The sales price is listed at $5,650,000.

In 2027, Bossong Hosiery will celebrate its 100th anniversary.