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 Partner, lauded the site as one of the few industrial buildings in Montgomery County in close proximity to a train station.

The entire building is currently occupied by Dorman Products (NASDAQ: DORM), an auto body parts supplier. Velocity acquired the property from BREP I LP, a partnership under the ownership of the Berman family, including Dorman’s Executive Chairman, Steven Berman, as per Dorman’s 2022 annual report.

*Article courtesy of Philadelphia Business Journal

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