Velocity Venture Partners Acquires 110,000 SF Asset In Montgomery County
Montgomery County, Pennsylvania, April 2020 – The Flynn Company is pleased to announce the sale of a ~110,000 SF, three-building, industrial and office portfolio in Montgomery County to Velocity Venture Partners. The off-market transaction by Velocity for $3,600,000 is another key acquisition of opportunistic real estate by the firm. Michael Borski Jr., SIOR (firstname.lastname@example.org), Mark Pawlowski (email@example.com) and Kevin Flynn Jr. (firstname.lastname@example.org) of The Flynn Company were the brokers involved in this transaction.
Located directly off of Philmont Avenue in Huntingdon Valley, the complex is comprised of a 54,814 SF warehouse, 42,106 SF flex building and a 12,500 SF office building. With close access to Route 1, I-95 and the Pennsylvania Turnpike, this property is located in a densely populated business and retail corridor less than one mile from the Philadelphia border. Velocity focuses exclusively on last mile assets throughout the greater Philadelphia region and has acquired north of two million square feet of industrial space over the past two years. “This acquisition grows our Huntingdon Valley industrial portfolio and further defines our strategy to purchase infill assets in high density suburban markets,” said Velocity Founding Partner Zach Moore.
At the time of sale, the 3 buildings on the property were ~98% leased and offer very functional space in a variety of sizes. The Flynn Company will be retained as the leasing agents for future availabilities.
“The versatility of these buildings provides us with the unique ability to offer a variety of flexible unit sizes to the market – ranging from 2,000 square foot cross-docked flex space to 55,000 square foot warehouse units. The portfolio sits just a few hundred yards from Philadelphia County, and we believe that the buildings will continue to attract interest from global and local distributors alike in their push to get closer to the end consumer,” per Velocity Founding Partner Tony Grelli.
About The Flynn Company
Serving the Greater Philadelphia region since 1980, The Flynn Company engages in all phases of commercial real estate. As one of the largest full-service real estate companies in the region, the firm offers clients a wide range of in-house capabilities including sales, leasing, accounting and property management, space design, construction and advisory services. The Flynn Company is consistently ranked as one of the largest family-owned and veteran-owned companies in the Philadelphia region.