A year after closing its lone Richmond-area department store, a national retailer has unloaded the empty big box to its former landlords.
Nordstrom sold its now-vacant 120,000-square-foot Short Pump Town Center building at 11812 W. Broad St. to the mall’s owners last week.
The mall’s ownership group, made up of local developers Pruitt Associates, New York-based real estate giant Brookfield Properties and Australian investment firm QIC, paid $3.2 million for the property, according to Henrico County property records.
Pruitt Associates General Manager Tommy Pruitt confirmed the deal, and said they’ve received interest in the space.
“We’ll be repurposing that building, but I can’t say for what yet,” Pruitt said. “It could be for one tenant or multiple tenants.”
Nordstrom ended a 17-year run in Richmond last year when it closed the Short Pump location. The Seattle-based retailer had been an anchor tenant since the mall’s opening in 2003, and owned its building since 2002.
The building sold for about $1.5 million less than its current county-assessed value of $4.7 million. In 2020, the building and its two-acre parcel were assessed at $7.8 million. Two of the mall’s other anchor tenants, Dillard’s and Macy’s, also own their buildings.
The empty Nordstrom building makes up the lion’s share of the available space in Short Pump Town Center, which for years has boasted low vacancy rates, especially compared to other malls in the region.
Short Pump did, however, recently lose a tenant in Godiva Chocolatier.
In the spring, Henrico County held a planning session at which the mall’s long-term future was considered. Ideas floated included infill development on current mall parking lots, building-wrapped parking garages and multimodal transportation hubs.
Pruitt said he appreciates the county’s proactive approach.
“Who knows what’ll happen in the future, but at least they have helped … to say what could happen many years down the road. I don’t see any immediate changes (at the mall) in the near future,” Pruitt said. “We do applaud the county on their very proactive stance on always wanting to keep the Short Pump area vibrant.”
One thing that may happen near the mall in the near future is the addition of a new hotel. In April, Kalyan Hospitality submitted preliminary plans for a nine-story hotel on about two acres of green space just west of Short Pump Town Center.