Diversified Realty Ventures has repositioned one of the Richmond area’s retail destinations for antiques shopping. Coalfield Station Antiques, located in the Midlothian Station Shopping Center at Coalfield Road and Midlothian Turnpike in Chesterfield County, opened on July 1.
On June 26, DRV closed the former occupant of the space, Midlothian Antiques Center, due to the management’s default on lease terms. By July 1, DRV established a new operating platform for the nearly independent antiques dealers who sub-lease space in the center.
W. Spilman Short Jr., a principal at DRV, said in a statement, “We had to shut down the antiques center due to a long-running and significant payment default. But we worked nonstop to allow the individual antiques dealers to re-open their businesses with minimal disruption. In the end, we’re extremely pleased to have found a solution that works for us and for the sub-tenants.”
DRV, which has offices in Richmond and Bethesda, Md., acquired the 66,165-square-foot Midlothian Station Shopping Center in 2003. According to the company, the mixed-use neighborhood shopping center is nearly 100 percent leased to tenants including Hancock Fabrics and Tiki Tiki 2 as well as the new antiques center.
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