T.H. Properties, a homebuilder based in Harleysville, said it sold the 7.2-acre property to PB Northgate LLC for $2 million. The property sits at Route 663 and Northgate Boulevard in Upper Hanover Township, near Pennsburg, said Shawn Hackman, chief financial officer for T.H. Properties. His company primarily focuses on residential housing and commercial development is not its forte, he said. That is why the company chose to sell the property.
The site is at the entrance to the Northgate residential development, built by T.H. Properties.
Derek Zerfass of Colliers International’s Upper Macungie Township office said he represented the seller in the transaction.
Matt Macdonald of the Markward Group in Upper Macungie Township represented the buyer, whom he declined to disclose, citing a confidentiality agreement.
Montgomery County property records list the owner as having an address at 5925 Tilghman St., an office building with multiple tenants in Upper Macungie Township.
“The developer likes the location, the area is poised for growth,” Macdonald said.
The Lehigh Valley is seeing more development pushing further south and north to satisfy the burgeoning growth, Macdonald said.
“What we are seeing is the valley itself showing great promise,” Macdonald said.
As space is taken up, developers are looking further north into the Stroudsburg area as well as further south past Quakertown, he added.
“The developer hasn’t been before the township for conditional use yet,” Macdonald said.
A tentative sketch plan shows the property could become a medical office building and retail pad.