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Colliers Announces Sale of 436 Commerce Lane to Velocity Ventures

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Ninth Building Purchase Facilitated by Colliers for Velocity

September 29, 2020 [West Berlin, NJ]Ian Richman and Marc Isdaner of Colliers International’s Mount Laurel office have brokered the sale of 436 Commerce Lane in West Berlin, New Jersey, which traded for $2,700,000. The building is a 48,000 sf multi-tenant warehouse/flex building conveniently located immediately off of Route 73.  Colliers has been retained to lease a vacant 22,000 sf unit in the building.

“Colliers is happy to continue partnering with a strong investment team that is bullish on the South Jersey industrial market.” cited Marc Isdaner of Colliers. This is the ninth building purchase (within 5 transactions) completed by the team for fast-moving real estate investment firm Velocity Venture Partners.” 

“I grew up in Southern New Jersey and have watched this corridor of the market continue to explode with growth over the past few years, from distributors to services-based companies alike. 436 Commerce is of a much newer vintage in this market – and the property boasts 18’ clear ceiling heights, impeccable loading and modern office space, factors that we believe will allow us to quickly lease up availabilities as they arise,” said Velocity’s Founding Partner Tony Grelli.

Per Grelli’s Co-Founder Zach Moore, “We look forward to working with the Colliers team to further stabilize the property in the coming months. Thank you to Marc and Ian for facilitating another smooth and quick transaction with our team.”

For further information or to discuss upcoming availabilities at the site, 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 real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.   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 3,000,000+ 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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Related Experts

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. 

View expert