160 Summit Ave. in Montvale — Courtesy: Accordia
By Joshua Burd
Accordia has added to its third-party management portfolio with new assignments at a trio of medical office buildings in Montvale.
According to a news release, the properties are within the same one-block area just east of the Garden State Parkway and include:
- 160 Summit Ave., a multistory, 32,000-square-foot building
- 305 West Grand Ave., a single-story, 27,163-square-foot building
- 50 Craig Road, a single-story, 14,000-square-foot building
“We are excited to add this respected portfolio of properties to our management services client roster,” said Christopher Hayes, managing director of Fairfield-based Accordia. “Our third-party management services will play a significant role in Accordia’s core business offerings and East Coast expansion plan moving forward. Accordia has always been widely recognized for its stellar service, hands-on collaborative approach and meticulous attention to detail in every facet of property management.
“Moreover, we have a fiduciary responsibility to do a stellar job. And we remain focused on maximizing returns for our owners and investors.”
Accordia noted that the properties are part of a fast-growing health care corridor off Exit 172 of the Parkway. They’re also minutes from Interstate 287 and the border with Rockland County, New York, fueling interest from providers that have opened satellite practice areas throughout the township, including a nearby Memorial Sloan Kettering Cancer Center facility that opened in 2018.
The firm added that Hackensack Meridian Medical Group Orthopedic Specialists of New Jersey will soon occupy the entirety of 50 Craig Road. Meantime, Kayal Orthopedic Center is located at 305 West Grand, while Summit Health and Valley Health have both expanded their practices to the area.
“There is a high demand for medical and office space in Bergen County, and particularly in Montvale, since medical providers best service their patients by establishing their practices near major health care centers,” Hayes said.
Accordia added that leasing activity is brisk at the three properties that it now manages, noting that ownership “has invested significant money in the right places to accommodate the unique needs of medical users” and to create Class A space.
The newest tenants at 160 Summit Ave. include Rubinstein Plastic Surgery Center, Empowered Pelvic Health and Center for Resiliency. Two additional leases are pending.
