News release

Velocity Ventures acquires industrial flex portfolio in Cherry Hill

The eight-building portfolio consists of 97,000 square feet of 100 percent occupied flex industrial space, offering unit sizes ranging from 2,000 to 20,000 square feet.

September 21, 2021

Vanessa Stella

+1 215 988 5521

PHILADELPHIA, Sept. 21, 2021 — JLL announced today that Velocity Ventures Partners, a Philadelphia-based investment firm, is the new owner of Rockhill Industrial Center.

Located directly off Interstate 295 at 1722 Marlton Pike in Cherry Hill, New Jersey, the eight-building portfolio consists of 97,000 square feet of 100 percent occupied flex industrial space, offering unit sizes ranging from 2,000 to 20,000 square feet. JLL Executive Vice President Chris Henderson represented the buyer in the transaction.

“This infill flex portfolio is one of the most well-located flex parks in the entire Camden County market. We are thrilled to add these eight buildings to our existing Cherry Hill portfolio as we continue to grow into the most active industrial flex buyer in Southern New Jersey,” said Velocity Venture Founding Partner Tony Grelli. “Our team is excited to commence a significant exterior renovation campaign in the coming quarters, which will further enhance the functionality and aesthetics of each building.” 

Strategically located on Route 70 and just a few hundred yards from Exit 34 of Interstate 295, the portfolio offers easy and efficient access to nearly all the arteries serving the Northeast region.

Zach Moore, Grelli’s Partner, added, “We acquired this complex 100 percent occupied across 16 units, which illustrates the incredible demand for optimally located small-bay industrial units in South Jersey. The functionality of these buildings, coupled with their location at the crossroads of Route 70 and I-295, will continue to drive high occupancy at the complex.” 

Industrial vacancy in Camden Country is one of the lowest in the region at 0.6 percent. According to JLL Research, as the tenant base for e-commerce diversifies, it is expected that the Philadelphia region will continue to see a spike in e-commerce demand spurred by Urban Logistics companies.

“The purchase of Rockhill Industrial Center by Velocity Ventures is just one example of the thriving flex industrial market in Cherry Hill and the surrounding region,” said Henderson. “As the demand for industrial space in the market continues to increase at a rapid pace, investments in high-quality Class B properties guarantee a solid return on investment.” 

For more information, visit jll.com/philadelphia or velocityinv.com


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

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.