A big-time shopper just walked out the doors of the resurrected Chesterbrook Shopping Center.
The remaining 31,000 square feet of what was once a 123,000-square-foot foreclosed mall anchored by Genuardi’s supermarket just sold for $11.45 million to a Crow Holdings Capital fund, according to a Philadelphia Business Journal report by Natalie Kostelni.
A group of sellers that includes RW Capital Partners, Valley Forge Investment Corp., and RLD Land Development initially bought the project within the Chesterbrook Corporate Center at foreclosure auction in 2013 for $9 million and have since transformed the 13 acres upon which it sat.
Part of the razed Chesterbrook Shopping Center footprint is now the new 123-townhouse Parkview at Chesterbrook housing development, the article explained. Phased construction and unit sales at Parkview are expected to continue into next year.
Read more about the redevelopment and recent sale of the Chesterbrook Shopping Center in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of the work in progress here.