Accordia Realty Ventures Set to Manage Five-Building Portfolio in Evesham
EVESHAM, NJ (OCTOBER 1, 2016) – Accordia Realty Ventures (Accordia) has been appointed receiver for a 160,000-square-foot, five building office portfolio in Evesham, NJ. Recently renamed Stow Road Corporate Park, the one-story flex properties are:
- 8 Stow Road (34,911 square feet)
- 9 Stow Road (55,345 square feet)
- 10 Stow Road (28,711 square feet)
- 12 Stow Road (21,200 square feet)
- 14 Stow Road (18,821 square feet)
The buildings, which have seen little capital investment in the last several years, will undergo a massive renovation under Accordia’s direction. Accordia’s comprehensive plan calls for $1.0 million in upgrades including brand new roofs, updated mechanical systems, new interiors, repaved parking lots and lush landscaping. The goal is create a vibrant, competitive campus in keeping with the park’s excellent location.
This is the third project Accordia has undertaken on behalf of Ellington Management Group LLC. The assignment marks Accordia’s expansion into Cherry Hill/Suburban Phildelphia market while also introduces flex buildings into the firm’s expanding portfolio.
“This was a unique opportunity for us to enter into a joint venture with Ellington Management Group on a well located office complex and to also implement our proven redevelopment strategy,” said Accordia Principal Jason Bogart. “When complete, we expect the property’s size, location, and specifications to attract a broad range of tenants.”
Added Accordia’s Director of Leasing, Sarah Loudon, “The property’s highway access and proximity to shopping, dining and lifestyle amenities provide a great draw to this location.”