In what will be one of the most significant local real estate transactions in recent history, Pettinaro Inc. will acquire two prime Greenville retail centers from the Stoltz organization, TSD has learned and is the first to report. The blockbuster deal will include Powder Mill Square and Greenville Center, some of the most coveted retail space in Delaware in the heart of Greenville at Kennett Pike and Buck Road. The upscale shopping centers are the longtime home of iconic local institutions including the Greenville Post Office and locally-owned stores Janssen’s Market, Wagner Hardware and Brew HaHa! coffee. The properties – to also include the former Kirkwood Fitness site – will complement Pettinaro’s 19807 footprint that already includes Greenville Place and the Towers at Greenville apartments.
Local observers predict the change in ownership to a highly-respected Pettinaro organization with deep local roots will mean positive things for both the community and business owners who have clashed with Stoltz. With the transaction, Pettinaro further cements its position as one of the state’s most powerful and influential real estate development and management companies.