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Allentown Group Looking to Develop Parcel near Northgate
Written by Bradley Schlegel, Staff Writer
2018-05-10

            An Allentown investment group is looking to commercially develop a Medical Office Building and other retail options on property at the intersection of Route 663 and Northgate Boulevard in Upper Hanover.

            Last month, PB Northgate, LLC purchased two parcels totaling 7.21 acres at the southwest corner of the intersection at the entrance to the THProperties Northgate Residential Development.

            The investment group purchased the property from THP for $2.07 million after negotiations that lasted six to eight months, according to Matt Macdonald, a vice president of Markward Group, an Allentown commercial real estate firm that represented the buyer.

            According to Macdonald, his client considers the location ideal for development due to its access to Pennsburg and Quakertown along with projected expansion and population growth. "The desirables are there," he said Monday afternoon.

            Along with the medical component, the developer is considering a combination of pad options on the parcel, including a restaurant, a dentist office and a bank or credit union, according to Macdonald.

            A 3.1-acre parcel at the northwest corner of the same intersection remains available for sale, according to information provided by Derek Zerfass, a senior vice president with Colliers International, the Upper Macungie firm that represented THProperties.


 

 

 

 

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