The Colliers industrial team of Ian Richman, Ross Abramsohn and Marc Isdaner, is pleased to announce the $4,200,000 sale of 436 Commerce Lane in West Berlin, NJ to an undisclosed buyer. This 48,000 square foot multi-tenant industrial building is fully occupied by four tenants and the buyer plans to occupy an upcoming 25,000 square foot vacancy for their own use.
Velocity Venture Partners purchased the property in August 2020 for $2,700,000. Just weeks after closing, with help from Colliers, Velocity leased the sole vacancy to Walmart. The building features five drive-in loading doors, six loading docks, 18′ ceilings, and is well-located just off Route 73.
Velocity owns and manages over 8 million square feet of industrial assets throughout the Northeast. Known much more for their voracious acquisition appetite than for the disposition of assets, the firm has the flexibility to accommodate individual sales to users or investors where they make sense, and consistently welcomes the opportunity to do so.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
About Velocity Venture Partners
Velocity Venture Partners is a leading developer of industrial real estate throughout the Northeastern Region of the United States and one of the largest owners of industrial space in Southern New Jersey. The firm devotes its time exclusively to warehouse, flex & conversion-oriented (office/lab/retail to industrial) assets that are located close to densely populated suburban corridors and major transportation arteries. Velocity currently owns and operates over 8 million square feet of industrial space throughout the region – a portfolio comprising 350 tenants and 80 properties. Velocity was founded by Gloucester County-native Tony Grelli and Montgomery County-native Zach Moore. Learn more at www.velocityinv.com