Chester strip mall sold for $6M

N.C. company buys The Shoppes at River Forest

Published March 5, 2021 by Rich Griset

Chester’s The Shoppes at River Forest, a 30,720-square-foot strip mall anchored by a Wal-Mart, was purchased on Feb. 26 for $6 million.

Raleigh, North Carolina-based PGP River Forest purchased the property from Bogese Cos., a Richmond-based real estate development group.

At the time of the sale, the center was 82% leased to tenants that include a mix of national, regional and local operators. The center is located along Chester’s Iron Bridge Road corridor.

Cushman & Wakefield | Thalhimer’s Capital Markets Group represented Bogese Cos. The transaction was completed by Catharine Spangler of Cushman & Wakefield | Thalhimer’s Capital Markets Group and leasing advisers Pete Waldbauer and Nicki Jassy, also with Thalhimer.