The liquidation of a local cabinetmaker is bringing some prime Short Pump retail space back on the market.
After being tied up in bankruptcy court since November, the former Old River Cabinets storefront in the Short Pump Station Shopping Center has been returned to its owner and is in search of a new tenant. A federal bankruptcy judge late last month allowed the landlord to regain possession of the space.
“We’re very excited to get it back,” said David Andrews, a partner with the Shopping Center Group, the commercial real estate firm that manages the property.
The 3,200-square-foot Old River space is in the shopping center anchored by Trader Joe’s and is just west of West Broad Village. AmCap, a Connecticut real estate firm, owns the 80-acre, 85,000-square-foot center.
Andrews said that the firm is talking with potential tenants and that the space’s location should make it easy to fill.
“It’s one of the most prominent spaces facing the road,” he said. “It’s a matter of finding the right fit. The owners have an expectation of a tenant that keeps within the quality of the other tenants that are there.”
Old River Cabinets Inc., which operated out of a large production facility in Amelia County and had four retail locations in Richmond and Northern Virginia, filed Chapter 7 bankruptcy and abruptly ceased operations in late November.
Its closing left many customers in the lurch after they put down deposits for cabinets in their homes, only to find the company shuttered before the job could be completed.
Old River was founded in 2002 by Victor Morrisette. He had stepped down and was not involved in day-to day-operations when the company went under.
Old River’s customers were high-end homebuilders and consumers. It survived the real estate downturn, but its sales were too slow in 2012 for it to stay afloat. The company had been searching for a buyer or investor in the days leading up to its filing.
Its 167,000-square-foot production plant in Amelia Court House, Va., about 40 miles west of Richmond, sits on 15 acres and is now owned by Wells Fargo, which foreclosed on it. The property was not an asset of the bankruptcy and was previously owned by another company tied to Morrisette.
In addition to its Short Pump showroom, Old River had retail locations in Fairfax and Sterling, and another on Alverser Drive, just off Midlothian Turnpike.
The liquidation of its few remaining assets continues in bankruptcy court.