E-commerce user expands by 103,000 sq. ft. at Pennsauken warehouse
An e-commerce user is expanding at a Pennsauken warehouse just months after taking occupancy at the property, according to Binswanger Commercial Real Estate Services.
The brokerage firm announced Thursday that Utopia Fulfillment is adding 103,275 square feet at 8600 River Road, bringing its total footprint there to 223,275 square feet. The lease restructuring with Velocity Venture Partners comes after the tenant’s initial commitment, announced in August, and amid recently completed upgrades at what’s known as Pennsauken Logistics Center.
Utopia Fulfillment uses the space for warehousing and e-commerce fulfillment of its home goods product lines, Binswanger said. It now occupies nearly two-thirds of the 355,000 sq. ft. building.
“We are thrilled to expand our relationship with Utopia at the Pennsauken Logistics Center and excited to now have a fully demised facility that is able to accommodate users of varying sizes and use cases,” said Tony Grelli, Velocity’s founding partner.
Binswanger Vice President Mike Torsiello and Senior Vice President and Partner Chris Pennington, both based in the firm’s Philadelphia office, represented Velocity in the leases after initially brokering the sale of the building last year.
“The fact that Utopia Fulfillment was interested in more space signals that their initial move to this property was a great fit,” Torsiello said. “The recent improvements made by Velocity Ventures made this a desirable facility, which clearly contributed to Utopia’s desire to grow long-term roots here and expand their operation.”
In a news release, Binswanger touted the building’s location within the Pennsauken Industrial Park and its proximity to the Betsy Ross Bridge, Interstate 95 and the Tacony-Palmyra Bridge. The industrial park is also close to routes 73 and 130, Interstate 295 and the New Jersey Turnpike and a quarter-mile from NJ Transit light rail service.
Velocity, which is based in Philadelphia, also recently unveiled improvements at the property such as a white boxed interior, roof replacement, new LED lighting, repaving the parking lot, exterior painting and loading dock upgrades, according to a news release. Building features include ceiling height ranging from 20- to 35-foot clear, 28 tailgate loading docks with four drive-in doors and more than three acres of dedicated trailer and vehicle storage.