Velocity Venture Partners Acquires 196K-SF Industrial Building In Lawrence Township For $12.1M

A 196,000-square-foot industrial building located at 2572 Brunswick Pike in Lawrence Township, South Jersey, has been sold for $12.1 million. The property, situated on 15 acres of land, was acquired by Velocity Venture Partners. The buyer's representative in the transaction was Tony Grelli, while Sanjay Chaturvedi represented the seller, Aurobindo.

Summary of transaction details

• Property Type: Industrial
• Sale Price: $12,100,000
• Size: 196,000 square feet
• Price Per Square Foot: $62
• Address: 2572 Brunswick Pike
• Market: Lawrence Township
• Acres: 15

Velocity Venture Partners, led by Tony Grelli, purchased the industrial building without the involvement of a broker. As part of their investment strategy, they plan to allocate $2 million for improvements, specifically preparing 166,000 square feet of space to attract potential tenants.