Velocity Venture Partners Purchases 4 Philly Suburb Office Buildings

Velocity Venture Partners Buys 4 Philly Offices

As the real estate climate changes with rising interest rates and continuing Covid-19 fallout, Velocity Venture Partners is positioning itself to take advantage. 

The Bala Cynwyd company bought four properties in Bucks and Montgomery counties since late August, adding to its portfolio of 7.5 million square feet of industrial and flex space spanning 80 buildings in Pennsylvania and New Jersey.

Each new property features a current or former office building. With demand for office space shifting, co-founders Tony Grelli and Zach Mooresaw opportunity in buying the sites with plans to convert them to industrial or flex space.

Grelli pointed to critical realizations since the start of the pandemic: Demand has increased for domestic manufacturing and assembling of products, as well as local inventory for retail and e-commerce.

*Article courtesy of Philadelphia Business Journal

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