Greenbrook Executive Center at 100 Passaic Ave. in Fairfield — Courtesy: Accordia
By Joshua Burd
Accordia has announced three new office deals in the region, including a nearly 7,000-square-foot lease renewal at its Greenbrook Executive Center in Fairfield.
According to a news release, the transaction with Strategic Family Wealth comes as Accordia plans several renovations and upgrades to the 203,028-square-foot building at 100 Passaic Ave. The deal keeps the financial services firm in place after some 18 years at the property, which is also Accordia’s headquarters, with amenities such as a cafeteria, a tenant lounge and balconies and a location that is less than two miles from Interstate 80 and Route 46.
JLL’s Fred Hyatt and Derek DeMartino represented ownership in the long-term, 6,900-square-foot renewal.
“We are delighted that Strategic Family Wealth has called Greenbrook Executive Center home for many years,” said Frank D. Recine, a principal with Accordia. “Greenbrook has been a mainstay in North Jersey Class A office space for more than 35 years because of its ideal location, and our commitment to providing a productive environment that’s inviting, comfortable, and makes for an easy commute in and around the area.”
The landlord also announced Tuesday that Stevens & Lee PC, a full-service law firm, has expanded by 3,523 square feet at 669 River Drive in Elmwood Park. The practice now occupies nearly 16,000 square feet at River Drive Center II, which Accordia acquired in 2008 and enhanced through major investments in amenity spaces, a new HVAC system, bathrooms and common areas.
JLL’s Tom Reilly and Greg McCavera represented Stevens & Lee, while Accordia’s in-house team and JLL’s Hyatt and DeMartino represented the landlord.
“Stevens & Lee demonstrates commitment to the North Jersey business community — and to RDCII — with its 2025 expansion,” Recine said. “River Drive Center is near I-80 and offers easy access to routes 20, 21, 46 and the Garden State Parkway and easy access to New York City and Newark Airport.”
In the third deal, Recine represented CDX Diagnostics in a 20,000-square-foot lease renewal at 2 and 4 Executive Blvd. in Suffern, New York. Accordia described the tenant as a health care research company that develops screening technologies for cancers.
The transactions follow a year in which Accordia expanded its platform to become a full-service real estate management company, the firm said The included bringing acquisitions and capital markets, development, third-party commercial real estate brokerage and third-party property and asset management under one umbrella.
“We are preparing to meet a pivotal moment coming for commercial real estate in 2025-2026, when nearly $1.5 trillion in debt will mature and asset holders will need help managing properties that will be under their supervision,” said Jason R. Bogart, an Accordia principal. “Our firm is quick, nimble and hands-on, and we are here to help owners or managers who need out-of-the-box solutions during the expected market downturn.”