PennTex Ventures, Greensburg, PA, a regional developer for several retail chains, recently purchased 2605 Philadelphia Pike in Claymont for the development of a retail store. Terms were not announced.
NAI Emory Hill agents Becky Harrington and Lorraine Sheldon represented the seller, Crerand-Olson, LLC. The .89-acre property, now vacant, was formerly home to the Coach House restaurant. MSC Retail represented the buyer.
Plans are for a 7,225 store to be built on the property.
PennTex is a family-owned and operated full-service real estate development company founded in 2009 and its development activities are primarily located in Pennsylvania, Maryland, Ohio, West Virginia and Delaware. PennTex is a development partner for national brand companies such as Dollar General, ALDI, Buffalo Wild Wings, Pet Smart, Aspen Dental and others.
“As a member of the Claymont Board of Directors as well as a commercial real estate agent, I am excited that our town is growing and continues to attract businesses that will boost the economy and provide jobs,” Lorraine Sheldon said. “We are thrilled to be part of this growth and are thankful that firms like PennTex see the value in our community.”
The building, a Claymont landmark, was damaged by fire in 2013 and according to one report was slated to become a Dollar General store.
