Pettinaro’s competitive advantage in the real estate industry comes from its unparalleled ability to effectively manage its existing portfolio while always exploring new opportunities to grow the company, whether in the form of a new development, a redevelopment, or an acquisition. While maintaining an entrepreneurial spirit, the company pursues its vision by focusing on day to day results, maximizing the value of the asset, and always being prepared for future opportunities.
Acquisitions: Pettinaro typically develops the value of its assets from the ground up, but there are some instances when Pettinaro will acquire an existing income producing asset. One example of this is with the acquisition of a 244,840 SF commercial building in Easton MD. Another example is with the acquisition of Chadds Ford West, a 66,229 SF multi-building office complex in Chadds Ford PA. In both of these examples, each property possesses the ability to build additional buildings, increasing the future value of the asset. This “up-side” is typically the essential criteria we look for when considering purchasing an existing building or development.
Rarely selling any of its assets, Pettinaro has developed a large and diverse portfolio of real estate over the years. By possessing the ability to make quick and effective business decisions based on its extensive experience in all aspects of real estate development and management, Pettinaro has become one of the largest real estate development companies in the region. Pettinaro plans on continuing this trend of growth for many years to come.
New Developments: Pettinaro’s expertise in design and construction ensure that a new development, built from the ground up, will be value engineered to the highest degree achievable without giving up on the quality of a project. These upfront cost savings increase the returns of our investments while minimizing our risk. London Grove Village and the Star Building are two recent examples of how Pettinaro has achieved success in its completion of new developments in this region.
Redevelopments: Unlike many real estate development companies, Pettinaro’s vision sees potential in properties where others may not. One of the biggest examples of this was when in the mid 1980’s Pettinaro acquired 85 acres industrial land on the riverfront of Wilmington, Delaware when land prices were significantly discounted. 26 years later the riverfront district of Wilmington Delaware is a bustling (and still growing) section of the city with major tenants like Barclay’s Bank, the Delaware Children’s Museum, and Grant Eisenhofer, an elite 35,000 SF law firm located in the Star Building. A more recent example of how Pettinaro redevelops properties is with the acquisition of the former Daniel L Hermann (now historic) Courthouse that sat vacant for 10 years. Pettinaro purchased the building and within 12 months had a signed lease for the entire 218,000 SF building with the elite law firm, Young Conaway Stargatt and Taylor. Pettinaro’s unique vision has enabled it to rehabilitate and reposition buildings many times and will continue to use this strategy to find new investments in the future.
