By Joshua Burd
A new management team and a nearly $2 million upgrade are paying dividends for an Evesham office building, where Accordia Realty Ventures has inked a series of new leases and renewals.
The firm said recently that it had leased 48,126 square feet at Stow Road Corporate Park, a five-building office complex. Accordia was awarded leasing and management assignments in fall 2016, giving way to a $1.8 million dollar renovation on behalf of owner Ellington Management Group.
New leases include:
- 5,535 square feet to StoneMar Natural Stone Co.
- 9,108 square feet to Hard Work No Excuses LLC
- 3,598 square feet to Comax Manufacturing Corp.
Long-term renewals include:
- 10,607 square feet to Pump It Up
- 9,801 square feet to Five Macs
Accordia also said Royal Box Group LLC, a long-time tenant, signed a renewal and expansion for 9,477 square feet.
“We’re not surprised by the uptick in leasing at Stow,” said Jason Bogart, principal with Fairfield-based Accordia. “Buildings with an excellent location that are well maintained will always be a draw for tenants.
“People see the work being done and recognize ownership’s commitment to the property. These transactions are proof of that.”
Accordia’s renovations included new roofs and roof repairs at all buildings, as well as repaved and/or resealed parking lots, according to a news release. All monument, building and individual suite signage was replaced, while all buildings were power washed and painted.
The firm also updated landscaping throughout the complex to address safety concerns and create a more welcoming environment.
The renovation is the third project Accordia has undertaken on behalf of Ellington Management, the news release said. The firm also said the project marks its expansion into the Cherry Hill and suburban Philadelphia market.