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Colliers Announces Sale of 443 Commerce Lane in Berlin to Velocity Venture Partners

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Team Also Takes on Listing Assignment on Velocity’s latest Pennsauken Acquisition

February 2, 2021 [West Berlin, NJ] Ian Richman and Marc Isdaner of the Colliers Mount Laurel office have brokered the sale of 443 Commerce Lane in West Berlin, New Jersey. The building is a 16,000 sf multi-tenant warehouse/flex building conveniently located immediately off of Route 73. Colliers has been retained to lease a vacant 6,400 sf unit in the building. This purchase complements Velocity’s recent acquisition of 436 Commerce Lane, which is a 48,000 sf multi-tenant warehouse/flex building.  

“We are excited to bring another availability to market with the Colliers team. 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. Thank you to Ian and Marc for another seamless transaction and we look forward to getting to work.” shared Velocity’s Founding Partner Tony Grelli.

In addition to this acquisition, Velocity has purchased 6901 N. Crescent Boulevard Pennsauken – located directly off of Route 130. This is a vacant 62,250 sf warehouse/manufacturing facility with heavy power and offers tenants the opportunity to have significant outside storage and/or ample trailer parking on approximately one and a half acres of paved ground. Colliers has also been retained to handle the leasing.

“The acquisition of 6901 N. Crescent Boulevard complements our existing Pennsauken Portfolio, which will soon eclipse 1 million square feet. Our team will kick off a full white box renovation of this building immediately – which includes a tear off and replacement of the roof, parking lot repaving, replacement of the existing building-wide window line and interior modernization. In addition to this availability, we currently have 25,000 square feet available right down the street at 965 Bethel Avenue – also listed by the Colliers team,” said Grelli’s Partner, Zach Moore.

For further information or to discuss upcoming availabilities at these sites, contact:  
Ian Richman, Senior Managing Director 
+1 856 414 1257 | Ian.Richman@colliers.com

 

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About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

 

About Velocity Venture Partners
Velocity Venture Partners is a leading developer of industrial real estate throughout New Jersey and Pennsylvania. The firm devotes its time exclusively to distribution, fulfillment and manufacturing style assets that are located close to densely populated suburban corridors and major transportation arteries. The team currently owns and operates 4,000,000+ SF of industrial space throughout the region - a portfolio comprising 150 tenants and 40 properties. Velocity was founded by Gloucester County-native Tony Grelli and Montgomery County-native Zach Moore.
www.velocityinv.com
 
 
 

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Ian Richman

Senior Managing Director | Southern New Jersey

Mount Laurel

Ian joined Colliers International’s industrial division in 2006. He specializes in the leasing and sale/acquisition of commercial and industrial properties in Southern New Jersey. He is especially adept at developing acquisition strategies and assisting with debt placement options for buyers that require financing. Ian has much success in the sale of industrial properties by utilizing his background in finance to assist buyers in finding and then financing an acquisition.

Prior to joining Colliers, Ian worked in Commerce Bank’s Commercial Lending  Division where he was responsible for performing financial analysis for the  bank’s commercial loan portfolio.
 

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Marc Isdaner

Senior Managing Director

Mount Laurel

Marc specializes in the leasing and sale/acquisition of commercial and industrial properties in Southern New Jersey, including landlord and tenant representation. Marc manages the Colliers Mount Laurel office and is a partner of the firm. 

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