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Pier 1 Imports to close one West Broad Street store

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Posted at 9:17 AM, Feb 08, 2016
and last updated 2016-02-08 09:17:26-05

HENRICO COUNTY, Va. — Nearly 11,000 square feet of Broad Street retail space will soon come up for grabs as a national retailer closes one of its Richmond locations. The Pier 1 Imports store at 7496 W. Broad St. will close in March, company spokesperson Melissa Simon said. The Fort Worth, Texas-based company announced last April it planned to close about 100 U.S. stores over three years.

“Pier 1 Imports continually reviews new and existing store locations to make sure we’re operating as efficiently as possible,” Simon said in an email. “Where necessary, based on that review, we make the strategic business decision to close certain locations on a case-by-case basis.”

Broker Jim Ashby of Cushman & Wakefield | Thalhimer has the listing for the 10,682-square-foot store. He said the preference is to lease the building to a single tenant, but he noted it can be divided into three spaces. Façade and sign renovations are in the works for the property.

Ashby said that, to his knowledge, Pier 1 has been open at that location for more than a decade.

When the location at 7496 W. Broad St. closes, Pier 1 will have four stores open in the Richmond area, including two in Midlothian, one at Virgina Center Commons and another West Broad Street location in Short Pump.

The Pier 1 store is located in a multi-tenant strip center owned by Ross Square LLC, according to county records. The owner lists an address of 6000 River Road.