Over the last four months, Bala Cynwyd-based Velocity Venture Partners has bought three properties in Montgomery County and one in Bucks County that it plans to convert into industrial or flex space, writes Paul Schwedelson for the Philadelphia Business Journal.

The company already owns a portfolio of 7.5 million square feet of industrial and flex space in Pennsylvania and New Jersey. Each of the newly acquired properties includes an office building.

Velocity co-founders Tony Grelli and Zach Moore have positioned the company to take advantage of growing demand in domestic manufacturing and product assembly and local inventory for retail and e-commerce.

“Those underlying trends have lit a massive fire fueling industrial, and it’s become harder and harder and harder for occupants to go out and find space,” said Grelli.

He added that all the properties Velocity acquired have the “bones” of industrial buildings, which makes them attractive to the company that specializes in converting buildings.

Velocity often transforms the buildings it buys by knocking out the floors to create a high-ceiling warehouse. Then, the company builds to suit the needs of its future tenants.

The Montco properties Velocity acquired for a total of approximately $24 million are 355 Maple Avenue and 483 Main Street in Harleysville and 3701 Welsh Road in Willow Grove.

Read more about Velocity Venture Partners in the Philadelphia Business Journal.