By Joshua Burd
Velocity Venture Partners has sold a Camden County industrial building for $4.2 million, in a deal that comes less than three years after it purchased the 48,000-square-foot facility.
Brokers say the property, located in the West Berlin section of Berlin Township, traded to an undisclosed buyer that plans to occupy an upcoming 25,000-square-foot vacancy at the site. The building at 436 Commerce Lane is currently fully occupied by four tenants, offering five drive-in loading doors, six loading docks, 18-foot ceiling heights and a location just off Route 73.
News of the deal follows Velocity’s August 2020 acquisition of the complex for $2.7 million and its subsequent lease with Walmart, which filled the lone vacancy. Based in Philadelphia, the investment firm owns and manages more than 8 million square feet of industrial space throughout the Northeast.
