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Velocity Venture Partners - Station Park

Velocity Venture Partners - Station Park

Station Park is one of Velocity Venture Partners most recent acquisitions and a flagship asset in the Firm’s Bucks County Portfolio. The complex is a 415,000 SF multi-tenant industrial flex facility located in Hatboro, Pennsylvania - just minutes from the Pennsylvania Turnpike. Constructed in 1963 by Proctor and Gamble, the building features a 50,000 sf section that is 75’ clear, where P&G manufactured several Vick’s products. In the early 2000’s, the facility was vacated by Proctor and Gamble and was converted to a multi-tenant industrial flex facility. Due to the asset’s construction and unmatched location, the facility presented an excellent blueprint for various distribution, production, warehouse and manufacturing uses. Upon taking ownership in May of 2021, Velocity has experience phenomenal success working with in-place and prospective tenants to lease many of the available office and warehouse/flex units within the complex. Velocity’s flexible and creative business model coupled with the Firm’s local presence has allowed them to make significant strides in their business plan for the complex in just months after taking ownership. one of the most active industrial and flex developers in the market, Velocity plans to continue their business plan to grow their market presence in the Greater Philadelphia area.

Our commitment to your safety:

We have experienced the enthusiasm of returning to live in-person events this year, having safely and successfully hosted more than 10,000 executives to date. While we are thrilled to convene together to propel growth within CRE, COVID-19 remains a worldwide concern and Bisnow is committed to practicing safe protocols at our events. You can expect the following:

In accordance with CDC guidelines, we are recommending that all participants wear a mask, regardless of vaccination status. Masks will be made available at the door.

Temperature checks will be conducted at entry.

Attendance at the event will be capped.

Contact tracing procedures will be employed for any reported exposure.

Socially distanced seating will be available in the main event space.

Enhanced sanitization protocols will be adhered to throughout the event space including regularly disinfecting surfaces throughout the event and hand sanitizer provided to all attendees.

As local regulations and guidance evolve, the CRE industry continues to lead the way forward. We look forward to gathering safely to do what we do best: network, connect, and engage to do more business. We look forward to hosting you soon.

Speakers and Panels

Construction Costs & Industrial Development Themes

Larry Maister

Larry Maister

Senior Managing Director, Northeast Industrial Region

JLL

Seth Hall

Seth Hall

AVP, Acquisitions

Duke Realty

Matt Brodnik

Matt Brodnik

CIO

Exeter Property Group

Greg Boler

Greg Boler

Managing Partner

KMT Partners

Edward Piscopo
Moderator

Edward Piscopo

Director of Economic Development

Clayco

Larry Maister

Senior Managing Director, Northeast Industrial Region

JLL

Larry has a 30 year track record of executing tenant representation and industrial agency assignments in Pennsylvania, New Jersey, and Delaware. Larry has a history of exceeding client expectations by providing knowledge based solutions through superior communication. He has specialized on agency assignments for new construction and corporate site selection. His team is currently managing over 35 million square feet of active agency assignments. Larry also spent 5 years leading the leasing and disposition efforts for a publicly traded office REIT in the Philadelphia region prior to joining JLL. Larry is licensed in Pennsylvania and New Jersey as a Real Estate Salesperson.

Seth Hall

AVP, Acquisitions

Duke Realty

As Assistant Vice President of Acquisitions, Seth is responsible for identifying and executing our acquisition strategy and the purchase of assets for the company within our Northeast markets. Seth is based out of the company's New Jersey office.

Seth has many years of experience in the commercial real estate industry. Prior to joining Duke Realty, he worked for LRC Properties as the acquisitions lead responsible for sourcing, underwriting, evaluating and executing new core plus and value add industrial investments. Prior to LRC Properties, Seth was with Newmark as a Director of Debt and Structured Finance. He held previous positions at Mesa West Capital as an Associate and Wells Fargo as a Financial Analyst.

EDUCATION

• Bachelor of Science, Real Estate Development, University of Southern California

CAREER HIGHLIGHTS

• Commercial Observer Top Young Professional – Debt & Equity, 2018

• Urban Land Institute – Young Leaders Group

Greg Boler

Managing Partner

KMT Partners

Gregory Boler Jr. serves as Managing Partner for KMT Partners LLC (“KMT”). KMT sources and executes unique Industrial Development opportunities within primary and emerging markets across the East Coast. For most of his career, Greg has focused on the Industrial & Logistics Sector and has nearly 15 years of commercial real estate experience. Over his career, Mr. Boler has sourced and executed more than 15M square feet of development, which is equivalent to $2B of stabilized value.

Prior to founding KMT, Greg served as Managing Director of the Eastern Region for Bridge Logistics Properties (“BLP”), the Logistics Value-Add and Development Arm of Bridge Investment Group. Before BLP, Greg served as a Logistics Group Partner at Transwestern Development Company (TDC), a private national development platform founded by principals of Ridge Property Trust and TDC. From 2019 through 2022, he increased the development pipeline growth from 3M square feet to 8M square feet in the Eastern and Central Pennsylvania Market. From 2016 to 2018, Greg was instrumental in supporting the East Region’s growth from Florida, including two markets, to seven markets within five states. The development team’s deployment increased from $50M to $330M. Greg began his career at Jones Lang LaSalle (JLL) within the Project and Development Services. While at JLL, Greg managed over 4M SF of build-to-suit development for Industrial, Multifamily, and Retail clients. Greg received his Master of Science in Commercial Real Estate from Georgia State University and a Bachelor of Science in Mechanical Engineering from Florida Agricultural and Mechanical University, where he was a walk-on Four Year Letterman Linebacker.

Investment Outlook & Industrial Outlook

Zach Moore

Zach Moore

Founding Partner

Velocity Venture Partners

Rob Goldstein

Rob Goldstein

Portfolio Manager

CenterSquare Investment Management

Ben Cohen

Ben Cohen

Co-Founder & Principal

Endurance Real Estate Group

George Kotridis
Moderator

George Kotridis

Principal

CLA

Zach Moore

Founding Partner

Velocity Venture Partners

A native of Montgomery County Pennsylvania, Zach leads the firm’s efforts in South Eastern Pennsylvania and is actively involved in all facets of Velocity Ventures – including the acquisition, disposition, and management of the firm’s broader portfolio of assets. Prior to the founding of Velocity Ventures, Zach worked at Goldman, Sachs, & Co. in the firm's Investment Management Division on a team managing $5b in client assets. Zach graduated Summa Cum Laude from Drexel University receiving a Bachelor of Science in Business Administration.

Rob Goldstein

Portfolio Manager

CenterSquare Investment Management

Mr. Goldstein is a Portfolio Manager for CenterSquare Investment Management’s real estate securities group. He joined the team in 2011 and focuses primarily on investment research for U.S. real estate securities. Prior to joining CenterSquare Investment, Mr. Goldstein worked for one year in Macy’s Inc. Inventory Planning division in New York City and spent two years as the Co-Founder and CFO of ChronoWake in Philadelphia. Mr. Goldstein graduated Cum Laude from the Wharton School at the University of Pennsylvania and holds a BS in Economics with a concentration in Finance. He is a CFA charterholder and member of the CFA Institute.

Ben Cohen

Co-Founder & Principal

Endurance Real Estate Group

Mr. Cohen has worked in investment real estate since 1997. Since co-founding Endurance Real Estate Group in 2002, Mr. Cohen has spent the majority of his time sourcing new acquisition opportu­nities ($300MM plus since inception), as well as establishing and maintain­ing new relationships with Endurance’s various capital partners and lenders. Mr. Cohen is also an integral part of the asset management team providing leas­ing, financial and marketing oversight for Endurance’s portfolio. Prior to co-found­ing Endurance Mr. Cohen most recently worked for RFR Holdings, a major pri­vately owned development firm based in New York City whose portfolio consisted of over 6 million square feet of Manhat­tan office space. While at RFR, Mr. Cohen worked on Acquisitions and Asset Man­agement, including leasing, recapitaliza­tion and disposition analysis.

Prior to RFR, Mr. Cohen spent two years working at Fortis Advisers in Acquisitions and Asset Management with Mr. White. Mr. Cohen worked on the underwriting of development and acquisition deals for joint venture equity financing. Prior to working at Fortis, Mr. Cohen spent two years at Ernst & Young Kenneth Lev­enthal Real Estate Group working as a senior auditor for major development clients such as Tishman Speyer and SL Green Realty.

Mr. Cohen received his Masters of Sci­ence in Real Estate Development from New York University and his B.S in Ac­counting from Tulane University. He is a Certified Public Accountant.

George Kotridis

Moderator

CLA

With more than 25 years in public accounting, George devotes most of his time serving clients in the Real Estate Industry. These include developers, commercial and residential operators, hotels, property and asset managers, home builders, private equity funds, and individual investors. In 2009, he took on the lead role of the legacy LarsonAllen firm’s Real Estate practice and has brought that experience forward focusing on further developing the firm’s capabilities in advisory, assurance, and tax services available to clients in the real estate and hospitality space. He also is a lead resource in the firm helping clients in real estate workout transactions.

Technical experience:

• Assists clients in selecting entity status, advises on partnership and LLC formations, helps with modeling IRR calculations and waterfall provisions, and forecasting distributions and allocations under IRC Subchapter K

• Provides consulting and expert services related to performance, cash flow, and operations of commercial real estate and hotel operations, including litigation support

• Helps clients assess the benefits of cost segregation studies, repair studies, change in accounting methods, as well as help facilitate closely-held business strategic planning initiatives, and design and implementation of succession plans

Education/professional involvement:

• Bachelor of business in accounting from Temple University, Philadelphia, Pennsylvania

• American Institute of Certified Public Accountants

• Certified Public Accountant in the state of Pennsylvania

Speaking engagements:

• Pennsylvania Bar Institute panelist on Distressed Real Estate transactions

• Testified in Federal Bankruptcy Court (Trenton, NJ) on feasibility of petitioner’s plan.

Opening Remarks

Tony Grelli

Tony Grelli

Founding Partner

Velocity Venture Partners

Tony Grelli

Founding Partner

Velocity Venture Partners

Tony is a native of Gloucester County, New Jersey and grew up on a 300+ acre fifth-generation family farm. He co-founded Velocity with Zach shortly after graduating from Drexel University, where he earned dual degrees in finance & economics. Tony currently lives in Montgomery County, PA, and enjoys spending his summers in Sea Isle City, NJ. Prior to Velocity, Tony worked on the investment team of Susquehanna Growth Equity – where he invested in software entrepreneurs across North America, UK & Europe.

Why This Matters

- With so much institutional capital in the industrial space, is there any runway left for aggregation of locally owned portfolios? 

- Demand still seems to be outpacing supply. How long can it last, and is there any concern about over saturation yet? 

- A state bill being considered in New Jersey would require multiple towns to sign off on any new industrial development. How realistic is its passage, and how much of an impact would it have if it passed. 
 

How You’ll Do More Business: 

The industrial market has been booming across the country, but it’s not free money like some of the new players entering the space believe. Find out where you should be looking to invest, how to obtain capital and how to best position your company to take advantage of the hot market.

Who You'll Meet: Investors, developers, architects, brokers, tenants, and engineers.

Venue

Station Park
330 S Warminster Rd
Hatboro, PA 19040


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Agenda

Time Activity
12:00 PM
1:00 PM
Pre-Event Networking
1:00 PM
1:45 PM
Construction Costs & Industrial Development Themes

Since March 2020, more people have shifted their purchasing habits from physical stores to online platforms, finding new means of safely obtaining essential goods. As cities balance reopening efforts with delta variant precautions, how will consumers’ buying decisions impact the industrial market?

1:45 PM
2:30 PM
Investment Outlook & Industrial Outlook

The industrial market is currently experiencing an influx of investment at an unprecedented speed, attracting new developers to the industry. With demand outpacing supply, what are the consequences of too much capital? Where are the new hot industrial development spots?

2:30 PM
3:00 PM
Post-Event Networking