Velocity Venture Partners sells industrial property in West Berlin for $4.2M

A West Berlin multitenant industrial building was sold by Velocity Ventures for $4.2 million to an undisclosed buyer, according to Colliers International.

The building is a 48,000-square-foot facility at 436 Commerce Lane. It is fully occupied by four tenants and the buyer plans to occupy an upcoming 25,000-square-foot vacancy for its own use.

The Colliers industrial team of Ian Richman, Ross Abramsohn and Marc Isdaner brokered the deal.

Velocity Venture Partners originally purchased the property in August 2020 for $2.7 million.

Just weeks after closing, with help from Colliers, Velocity said it leased the sole vacancy to Walmart. The building features five drive-in loading doors, six loading docks, 18-foot ceilings, and is well-located just off Route 73.

Velocity owns and manages over 8 million square feet of industrial assets throughout the Northeast.