The deal for the 16,000-square-foot 443 Commerce Lane in West Berlin complements its recent acquisition of 436 Commerce Lane, a 48,000-square-foot multitenant warehouse/flex building.
Colliers, which brokered the sale, also has been retained to lease a vacant 6,400-square-foot unit in the building.
“We are excited to bring another availability to market with the Colliers team,” Velocity’s founding partner, Tony Grelli, said in a prepared statement. “Renovations on the 6,400-square-foot availability, which offers two drive-in doors, are commencing today. Coupled with our neighboring property, 436 Commerce Lane, we have the ability to immediately accommodate users in this market with requirements ranging from 3,000 to 22,000 square feet.”
The team of Ian Richman and Marc Isdaner handled the sale.
Velocity also recently purchased 6901 N. Crescent Blvd., Pennsauken, a 62,250-square-foot warehouse and manufacturing facility, Colliers said.