Velocity 55 Industrial Park at 410-450 Andbro Drive in Pitman — Courtesy: Velocity Venture Partners LLC
By Joshua Burd
Velocity Venture Partners LLC has brought a Gloucester County industrial park to full occupancy after a multimillion-dollar renovation and some 85,000 square feet of leasing activity.
The firm, which acquired the small-bay, four-building portfolio in 2022, said the transactions at Velocity 55 Industrial Park in Pitman include 10 renewals. The landlord has also secured commitments from six new tenants, including:
- US Med-Equip, a medical equipment distributor with 90 locations across the nation
- South Jersey Gas, southern New Jersey’s top supplier of natural gas, servicing 700,000 individuals and businesses
- NEFCO Fire Investigations, a national origin and cause investigation group for fire incidents
- Valken Sports, a worldwide distributor and manufacturer of paintball, airsoft and defense protection products
“I grew up just two miles from this complex and am thrilled with the strong leasing activity we’ve experienced since our acquisition,” said Tony Grelli, Velocity’s founding partner. “Many of these tenants are new to the Pitman area, and the significant leasing volume illustrates clearly the continued demand for smaller industrial units in our region.”
Located at 410-450 Andbro Drive, the property is less than a mile from Route 55 at Exit 53 and accommodates tenants ranging from 750 to 20,000 square feet, according to a news release. Velocity acquired the property from its original developer and immediately sought to capitalize on the location with a series of updates, including full parking lot and access way repaving, building façade improvements and painting and white-box improvements with each vacancy.
Velocity last week also announced the donation of $25,000 in profits from the park’s operations to Pitman-based Angels Community Outreach, which provides a crucial lifeline to families in need throughout the region.
