A private investment firm has completed its $8.5 million acquisition of Shopko Optical, including the Norfolk location.
Monarch Alternative Capital, which is based in New York, was the sole bidder for the bankrupt retailer's optical business in mid-April.
Monarch and Raider Hill Advisors, another New York investment firm, also purchased more than 75 Shopko properties.
With the sale completed, Monarch now turns its attention to moving the optical operations from Shopko's big box stores — including Norfolk — to smaller strip centers and storefronts. It expects to relocate about 80 stores.
A sign on the exterior of the Norfolk location indicates that Shopko Optical remains open and will be relocating soon, but no specifics have yet been announced.
It should be noted, however, that Dr. Jarod Kastl, who has served as an optometrist at Shopko in Norfolk, will not be a part of the new Shopko Optical. Kastl plans to open his own practice — Kastl Family Eyecare at 2106 Taylor Ave. in Norfolk — this spring.