Real estate deal inked at 31 Reads Way kicks off leasing momentum in new market for the firm
News release
15 September 2025
Velocity Venture Partners drives growth with Delaware debut
WILMINGTON, DE., September 15, 2025 - JLL announced today that Velocity Venture Partners welcomed its first tenant at 31 Reads Way. Abby’s LLC., a consumer electronics company, marks Velocity Venture Partners’ first tenant in the developer’s inaugural project in Delaware.
“We are proud to have landed our first tenant so quickly after closing on this project, and look forward to watching them flourish in their new home,” shared Velocity Founding Partner Tony Grelli. “JLL’s Jamie Vari and Blaise Fletcher have generated significant interest in the revitalized complex, further reinforcing our confidence in the strength of the light industrial market across the Northeast. We remain fully committed to pursuing new acquisitions to strategically expand our presence in the Delaware market.”
The more than 13,400 square foot lease, in conjunction with numerous additional lease deals in the pipeline, indicates strong demand for high-quality, small bay industrial space in the Delaware market. Freshly white boxed units at Reads Way are now available for immediate occupancy in the 7,000 to 40,000 square foot range, ready for tenant customization.
“We have been thoroughly impressed by the efficiency Velocity has demonstrated in our short time working together. Their integrated construction, legal and space planning teams collaborate seamlessly to execute lease deals with precision and speed. The strong demand we’ve experienced at this site highlights the clear imbalance between supply and demand for users under 50,000 square feet—and we look forward to reaching full occupancy in the near future,” said Jamie Vari, Managing Director at JLL.
JLL’s Jamie Vari and Blaise Fletcher represented Velocity, and Ryan Ward from Ganc Commercial Realty represented Abby’s, LLC., in the transaction.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.