M id A tlantic Real Estate Journal — Pennsylvania — April 10 - 23, 2020 — 17A
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P ennsylvania
population centers,” said Veloc- ity’s founding partner, Zach Moore . V e l o c i t y Velocity Venture Partners acquires industrial property in Delaware County Colin Flynn, SIOR and Ben Conway of The Flynn Company broker 170,000 s/f, 5 building portfolio D ELAWARE COUN- TY, PA — The Flynn Company announced
population hubs. We’re excited to expand our presence in the submarket over the next few quarters with additional ac- quisitions in our pipeline, said Tony Grelli , who spearheads Velocity’s focus in NJ and co- founded the firm with partner Zach Moore. “We believe our Delaware County portfolio will serve as a landmark within the Velocity umbrella as we drive to be the most active last mile industrial owner within South- eastern Pennsylvania and New Jersey,” said Moore. Colin Flynn, SIOR and Ben Conway were the brokers involved in the transaction.
the sale of a 170,000 s/ f , five-building, i n d u s t r i a l port fol io in D e l a w a r e County. The properties are located in the Ridley Busi-
has recently made Dela- ware County a core focus of their orga- nization and has acquired 200,000 s/ f of last mile
Colin Flynn
Ben Conway
product in the Airport Indus- trial submarket in the county, out of a global industrial port- folio of two million s/f. “This submarket provides users with direct access to Phila-
ness Center in Holmes, PA (four buildings) and 620 Park- way in Broomall, PA, which are located in direct proximity to I-95 & I-476, respectively. The properties were 100% leased at the time of the sale. The build- ings offer very functional space in a variety of suite sizes, which meet the industrial demand in Delaware County. Velocity Venture Part- ners purchased the proper- ties for $12.25 million as a strategic acquisition to grow their Industrial portfolio across the Delaware Valley. “We are excited to acquire functional, in-fill product that we believe will always be in high demand. With low vacancy rates and a lack of developable land in Delaware County, we target owning assets with scale near dense suburban and urban ROCK completes 114,323 s/f in York transactions YORK, PA — ROCK Com- mercial Real Estate com- pleted the following transac- tions: • Frasier-Campbell Prop - erties, LLC purchased a 46,640 s/f industrial property at 560 Maryland Ave. in York, York City from 4300 NESC, LLC for $594,603. Greg Fin- kelstein and Jason Turn- bull , of ROCK Commercial Real Estate, brokered the transaction. • Advanced Industrial Ser - vices, Inc. purchased a 42,683 s/f industrial property at 3250 North Susquehanna Trail in Manchester Twp. from AIDC for $2.35 million. Ted Turn- bull and Jason Turnbull, of ROCK Commercial Real Es- tate, represented the seller in the transaction. • Advanced Industrial Ser - vices, Inc. purchased a 25,000 s/f industrial property at 45 Devco Dr. in East Manchester Twp. from AIDC for $975,000. Ted Turnbull and Jason Turn- bull represented the seller in the transaction.
620 Parkway in Broomall, PA
delphia International Airport and the major transportation
arties that surround the City of Philadelphia and suburban
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