Exciting New Development Planned for Wilmington Riverfront

New Castle, DE (March 21, 2022) — NAI Emory Hill is pleased to announce the sale of a large development parcel located at 340 S Market Street in Wilmington, DE. The seller was E-Tegos, LLC, of Newark, Delaware. The buyer is an entity owned by Westrum Development Company, Fort Washington, Montgomery County, PA. 

Westrum will redevelop an existing 3.49-acre site and create 193 upscale apartment units with on-site parking. The Westrum product is a highly amenitized, socially integrated technology advancement apartment community located close to transportation, entertainment, recreation, and employment venues. This Market Street location will provide residents easy access to Amtrak and SEPTA rail lines, Riverfront and Downtown Wilmington restaurants, theatres, entertainment venues, nearby grocery shopping, proximity to I-95 and I-495, Riverwalk, Jack A. Markell Bike Trail, and much more.

“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.