Bala Cynwyd-based Velocity Venture Partners has acquired a 340,000-square-foot industrial building in Colmar for $30.7 million, writes Paul Schwedelson for the Philadelphia Business Journal.

The 28-acre property is located less than a mile from SEPTA’s Regional Rail Colmar station, which makes it the only industrial building in Montgomery County that is close to a train station, said Velocity Founding Partner Zach Moore.

The entire building is currently occupied by auto body parts supplier Dorman Products.

The property features 15 loading docks, but Velocity is considering adding more, up to an additional 50. There is also room on the property to either expand the existing building or build another industrial building.

“We love the property, the tenant is the cherry on top,” said Moore. “But the sundae for us is the property. We think we’ll do extremely well with it just because of our basis, the location, the land value, the train station. We think we can redevelop it very inexpensively to a modern Class A industrial facility with tremendous loading.”

Dorman’s lease expires in 2027. The company paid $2.5 million in rent last year.

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

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