Velocity Venture Partners is redeveloping the former Cardone Industries complex in Northeast Philadelphia, with leases already in place for 40% of the industrial space. The Bala Cynwyd-based firm purchased the 470,000-square-foot site at 5660 Rising Sun Ave. in 2022 for $22.3 million from a Cardone-affiliated entity. Cardone, a longtime major employer in the area, occupied… Read more »
Velocity Venture Partners has sold a 468,000-square-foot industrial building in Yeadon, Delaware County, for $59 million, marking a 41% increase from its purchase price two years ago. New York-based Lightstone Group, making its first acquisition in the Philadelphia area, bought the warehouse at 6250 Baltimore Ave., according to Newmark’s Ryan Guittare, the listing agent. The… Read more »
Velocity Venture Partners has purchased a 340,000-square-foot industrial building in Montgomery County for $30.7 million, aiming to enhance and expand the premises. Positioned at 3400 E. Walnut St. in Colmar, the 28-acre property sits between Route 309 and County Line Road, less than a mile from SEPTA’s Regional Rail Colmar station. Zach Moore, Velocity’s Founding… Read more »
As tenants fled from the Richland Plaza shopping center in Quakertown, Velocity Venture Partners Founding Partner Zach Moore thought, “There’s got to be an opportunity here.” At 90% vacant, Velocity acquired the 225,000-square-foot retail center for $16.7 million on Wednesday and plans to convert it into a multi-tenant industrial site. The entire project, combining the acquisition cost… Read more »
Velocity Venture Partners has acquired the Oldies.com building for $7.85 million with plans to market it to tenants seeking high-visibility industrial space. The 56,000-square-foot West Conshohocken landmark at 60 Portland Road is located on 3 acres directly west of I-476. More than 115,000 vehicles pass by daily on that section of the Blue Route, making… Read more »
