NAI Mertz’s Jonathan Klear & Fred Meyer Complete Sale of Stow Road Corporate Park in Marlton, NJ

−Five-Building Portfolio Purchased by Velocity Venture Partners−

Mt. Laurel, NJ – (October 19, 2021) – NAI Mertz announced today that Jonathan Klear, Senior Vice President, and Fred Meyer SIOR, Executive Vice President, completed the sale of Stow Road Corporate Park, comprising five, single-story flex industrial buildings totaling 160,000 square feet. The sale was made directly to a subsidiary of Velocity Venture Partners, a Philadelphia-based real estate investment firm. NAI Mertz was the sole broker.

“We have been chasing this portfolio for over a year now and our team is incredibly excited to wrap up the acquisition and get to work in renovating the complex. We have capitalized this acquisition with funds to renovate each suite into the highest-end flex product in the market – with top of the line office finishes and warehouse enhancements including significant loading additions and epoxied floors,” per Velocity’s Founding Partner Tony Grelli.

The complex, which will be rebranded as Velocity Business Park, was originally built as an industrial flex park, and ownership plans to add north of 20 loading positions and drive-in doors to further enhance the functionality of each unit. Conveniently located off Highway 73 and just a few miles from Exit 4 of the New Jersey Turnpike, the site offers hundreds of parking spaces, beautifully landscaped views, and a professional setting for flex users of all types. There is also great access to several of southern/central New Jersey’s highways including Routes 70 and 130, I-295 and the NJ Turnpike.

“Velocity has been rapidly increasing its industrial real estate footprint in the greater Philadelphia area and has quickly become a leader in Southern New Jersey’s flex market. We have been retained to market the available units at the complex and are thrilled to watch the site evolve through Velocity’s renovation campaign,” stated Klear.

“This is an incredible addition to our Southern New Jersey Portfolio and we excited to add additional market share along Exit 4. Thank you to Jon, Fred and the NAI Mertz team for helping us get this across the finish line,” said Velocity’s co-founder, Zach Moore.

Current availabilities range from approximately 3,000 to 15,000 square feet with a mix of full height dock doors and drive-in loading. Please contact Jonathan Klear for more information at 856-433-1801.

 

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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 over 5 million square feet of industrial space throughout the region – a portfolio comprising 200 tenants and 70 properties. Velocity was founded by Gloucester County-native Tony Grelli and Montgomery County-native Zach Moore.  Learn more at www.velocityinv.com.

 

About NAI Mertz

Founded in 1980, NAI Mertz is a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania. The company provides expert services in brokerage, leasing, sales, investments, property management, site selection and construction management in the industrial, office and retail sectors.  NAI Mertz’s clients include Fortune 500 companies, financial institutions, private investors, large public corporations and small businesses. Its partnership with NAI Global, a top 5 commercial real estate brand, enables the firm to provide large-scale global real estate services. NAI Mertz has been recognized as an Office of the Year for NAI Global selected from a pool of 375 NAI offices.  NAI Global comprises more than 6,000 commercial real estate professionals and manages over 1.15 billion square feet of space.

For more information on NAI Mertz, visit its web site at www.naimertz.com, or 800.520.7139.

 

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