At present, Mitsubishi has made a move on the now vacant storefront at 1761 Galleria Blvd. and sits poised to outfit the property for a future dealership.
The Home Page has independently verified that Mitsubishi North America Inc. — headquartered just south of the Cool Springs shop — is slated to open the dealership at some point this fall. Despite its corporate center being housed in the McEwen Northside development alongside the likes of CapWealth and Williamson Inc., this will mark the first dealership the company has placed in the county.
The property was previously occupied by prolific home goods vendor Pier 1 Imports. It closed when the brand itself was numbered among many businesses who could not stay afloat during the pandemic. Pier 1 CEO Robert Riesbeck attributed the closure to COVID-19 at the time in a press release addressing the shuttering of the company. The company was looking for a buyer in order to continue operating when the pandemic hit.
“Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down,” Riesbeck said.
Since the liquidation of the company’s assets, the property has been left vacant, but the property in question constitutes prime real estate in the heart of Cool Springs. Mitsubishi has acknowledged that value and seized the lot to round out its Middle Tennessee portfolio, which only includes two other dealerships at present — North Nashville Mitsubishi in Madison and Tim Short Mitsubishi in Clarksville.
This comes after the Japanese automaker in April promoted Mark Chaffin, its chief operating officer since 2018, to CEO. At the start of the pandemic and less than two months before Pier 1 announced it would close all its locations nationwide, Mitsubishi appointed new CEO Yoichi Yokozawa in place of former president Fred Diaz, a move made during the transition to the new headquarters at McEwen Northside. Chaffin marks the third CEO Mitsubishi has had in as many years.