A Fairfield-based company has been awarded the management and leasing for two properties, including one in Elmwood Park.
Accordia Realty Ventures will restore the property at 619 River Drive, along with a 10-story office tower in Wilmington, Delaware, Ellington Management Group announced.
“We appreciate Accordia’s track record of successfully turning around underperforming properties and look forward to a long and successful relationship between our two firms,” stated Mitch Levine, Ellington’s director of loan acquisitions.
Accordia has quadrupled its portfolio, which began with 500,000 square feet in 2012.
The Elmwood Park office property is the former Langan Engineering & Environmental Services headquarters, but hasn’t seen much investment in the past 15 years. It covers 102,000 square feet.
“We have great foundations to build upon,” Accordia Principal Joe Romano said. “We are looking forward to creating premier office environments at each location.”
Accordia already launched a repositioning campaign that includes adding all-new HVAC systems, white-boxing vacant floors, freshening up vacant floor lobbies and overhauling the first floor lobby and restrooms. Completion is expected later this month.
