Prudent Growth Partners Sells The Shoppes At River Forest Retail Center In Chester For $8.9M

The retail asset located at 11914 Iron Bridge Road in Chester, VA encompasses 3.7 acres and features a total area of 30,070 square feet. It has been sold for a transaction amount of $8,900,000, equating to a price per square foot of $29,598. The property, known as The Shoppes at River Forest, was constructed in 2007 and was reported to be 95% leased to 12 tenants, which include GameStop, Sweet Frog, State Farm, and the U.S. Marine Corps.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,900,000
• Address: 11914 Iron Bridge Road
• Market: Chester, VA
• Acreage: 3.7
• Square Footage: 30,070
• Price Per Square Foot: $29,598
• Seller: Prudent Growth Partners
• Broker: Catharine Spangler - Cushman & Wakefield

Catharine Spangler of Cushman & Wakefield represented the seller, Prudent Growth Partners, in this transaction. The involvement of a significant number of tenants indicates a stable occupancy prior to the sale, contributing to the attractiveness of the investment for the buyer.