16 Rockhill Road in Cherry Hill — Courtesy: NAI Mertz
By Joshua Burd
Velocity Venture Partners has leased up a Cherry Hill industrial campus after four new deals totaling roughly 30,000 square feet, brokers with NAI Mertz announced this week.
The activity at the property, Rockhill Industrial Park, follows a multimillion-dollar update of the eight-building, 97,000-square-foot complex at Route 70 and Rockhill Road, according to a news release. Velocity also sought to deliver turnkey fit-outs to new tenants, helping to fuel the recent activity by listing agents Jonathan Klear and Ryan Brennan of NAI Mertz.
“The small-bay industrial market in our region is alive and well, and we are thrilled to welcome these new tenants to the Velocity family,” said Tony Grelli, a founding partner of the firm. “Virtually no one is building new product for users in the (5,000-) to 50,000-square-foot range, and we look forward to continuing to capitalize on this supply-demand imbalance to provide much needed offerings to today’s industrial tenants. Thank you to Jon and Ryan for the hard work in executing our vision at Rockhill.”
Klear, a senior vice president with Mount Laurel-based NAI Mertz, and Brennan, a sales associate, noted that the park is just east of Interstate 295 and the New Jersey Turnpike.
“Velocity’s construction and asset management teams gave us all the tools we needed to quickly lease this park to a mix of new users,” Klear said. “A highlight to our success was a long-term deal with a signage manufacturer, who chose Rockhill Industrial Park as their East Coast headquarters.”
