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Colliers Assists Velocity Venture Partners to Fully Stabilize Pennsauken Property with Five New Industrial Leases

2301 Haddonfield_1536x1040Hero

PENNSAUKEN, NJ December 20, 2022 – The Colliers industrial team of Ian Richman, Ross Abramsohn and Marc Isdaner, is pleased to announce the full stabilization of 2301 Haddonfield Road in Pennsauken, NJ.  The building was formerly occupied by a single-tenant and upon their moving out,Velocity Venture Partners, the landlord, commenced substantial renovations on the 38,000 SF building in the Spring of 2022.  Within the last several months, Colliers worked with Velocity to secure five new leases with Contract Callers, Inc, Pearwood Brands, Frontline Automation, Liberty Manufacturing and National Rug Cleaners – bringing the site to 100% occupancy.

Velocity purchased the site in early 2020 with an inherited tenant that had gradually expanded across the entire building over their 30-year tenancy.  After the company was sold and vacated the site earlier this year, the landlord capitalized on the unique build of the asset to reoccupy the individual units with a diverse mix of tenants and use cases.

“The departure of our inherited tenant at this building was not a planned event, but I am thrilled with our team’s ability to significantly renovate the site and fully stabilize it well short of a year after taking the space back.  The Colliers team knocked it out of the park with this assignment and helped us bring five new businesses to the Velocity family & the Township of Pennsauken.  Great work all around,” stated Tony Grelli, co-founder of Velocity.

Ross Abramsohn added "The combination of strong demand in the market for small warehouse spaces paired with the Landlord's commitment to making improvements to the building helped accelerate the lease-up of this property."  The building features 11 drive-in loading doors, two loading docks and 16' ceilings.  It is well-located just off Routes 73 and 130, providing immediate access to multiple bridges to Philadelphia.

For more information, contact:

Ian Richman, Senior Managing Director
+ 1 609 519 0710 ian.richman@colliers.com


Ross Abramsohn,
Associate
+ 1 856 316 4139 ross.abramsohn@colliers.com

 

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About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. 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 and one of the largest owners of industrial space in Camden County. The firm devotes its time exclusively to distribution, fulfilment and manufacturing style assets that are located close to densely populated suburban corridors and major transportation arteries. Velocity currently owns and operates over 8 million square feet of industrial space throughout the region - a portfolio comprising 350 tenants and 80 properties. Velocity was founded by Gloucester County-native Tony Grelli and Montgomery County-native Zach Moore.  Learn more at 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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Ross Abramsohn

Vice President, Industrial

Mount Laurel

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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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