436 Commerce Lane in West Berlin — Courtesy: Colliers International
By Joshua Burd
An investment firm has acquired a 48,000-square-foot industrial building in Camden County for $2.7 million, according to brokers with Colliers International.
In a news release Wednesday, Colliers announced that Velocity Venture Partners purchased the warehouse and flex property at 436 Commerce Lane in West Berlin. The brokerage team noted that the complex sits immediately off Route 73, providing easy access to Route 30 and other thoroughfares.
Colliers’ Ian Richman and Marc Isdaner arranged the transaction and have been retained to lease a vacant 22,000-square-foot unit in the building.
“Colliers is happy to continue partnering with a strong investment team that is bullish on the South Jersey industrial market,” Isdaner said, noting that 436 Commerce represents his team’s fifth transaction involving Velocity Venture Partners.
The buyer, which is based in Philadelphia, has made several acquisitions since last year.
“I grew up in southern New Jersey and have watched this corridor of the market continue to explode with growth over the past few years, from distributors to services-based companies alike,” said Tony Grelli, Velocity’s founding partner. “436 Commerce is of a much newer vintage in this market — and the property boasts 18-foot clear ceiling heights, impeccable loading and modern office space, factors that we believe will allow us to quickly lease up availabilities as they arise.”
