NAI Emory Hill Real Estate Services announced the sale of a large development parcel located at 340 S. Market Street in Wilmington.
The seller was E-Tegos, LLC. of Newark. The buyer is an entity owned by Westrum Development Company, Fort Washington, PA. The site had been the location of Celebrations on Market, a restaurant, and nightspot.
Westrum will redevelop an existing 3.49-acre site and build 193 upscale apartment units with on-site parking. The Market Street location will provide residents access to Amtrak and SEPTA rail lines, Riverfront and downtown Wilmington restaurants, theaters, entertainment venues, nearby grocery shopping, proximity to I-95 and I-495, Riverwalk, Jack A. Markell Bike Trail, and other areas.
“I am thrilled to see the continuing investment in Wilmington,” said Jon Hickey of NAI Emory Hill, who represented the Seller in the transaction. “People are choosing Wilmington as a great place to live, work, and play. The future is bright, and the trajectory is most positive.”
Rick Gordon and Zena Charakopos of NAI Mertz represented the buyer in this transaction.