West Berlin property purchased for $2.7M, Colliers says

A West Berlin warehouse/flex building was purchased by Velocity Ventures for $2.7 million, according to Colliers International.

The building at 436 Commerce Lane is a 48,000-square-foot multitenant building with a vacant 22,000-square-foot unit, the real estate firm said. It will also handle the leasing of the vacant unit.

Ian Richman and Marc Isdaner of the Mount Laurel office brokered the deal.

“Colliers is happy to continue partnering with a strong investment team that is bullish on the South Jersey industrial market,” Isdaner said in a prepared statement. “This is the ninth building purchase (within five transactions) completed by the team for fast-moving real estate investment firm Velocity Venture Partners.”

Velocity is based in Philadelphia and was co-founded by Gloucester County native Tony Grelli and Pennsylvania native Zach Moore. The property’s seller was not disclosed.