Commercial real estate firm NAI Mertz said Tuesday that it closed on the four remaining leases totaling about 30,000 square feet at Rockhill Industrial Park in Cherry Hill. The completion of the lease deals brought the 97,000-square-foot, eight-building industrial park to 100% occupancy. Velocity Venture Partners, based in Bala Cynwyd, Pa., owns the property.
The site’s location on Route 70, close to Interstate 295 and the New Jersey Turnpike, was a key factor in leasing up the property, according to NAI Mertz. Its renovation campaign led to a swift lease-up. The listing agents were Jonathan Klear, senior vice president, and Ryan Brennan, sales associate.
Velocity founding partner, Tony Grelli, said “the small bay industrial market in our region is alive and well … Virtually no one is building new product for users in the five to fifty thousand square foot range, and we look forward to continuing to capitalize on this supply-demand imbalance to provide much needed offerings to today’s industrial tenants.”
“Velocity’s construction and asset management teams gave us all the tools we needed to quickly lease this park to a mix of new users,” said Klear.
Mount Laurel-based NAI Mertz was founded in 1980 and has regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania. Velocity has a portfolio of 8 million square feet of industrial and conversion-to-industrial assets across the Northeast.
