The commercial real estate firm, which has previously owned or managed the three-building medical campus for close to 20 years, plans for facility upgrades
FAIRFIELD, N.J. — Nearly 10 years after selling Warren Medical Campus to another firm, Accordia is once again taking the reins of the three-building medical campus, of 57,000 square feet.
“I like to describe this as a full circle moment for Accordia,” said Jason R. Bogart, the firm’s Founding Principal. “We have deep roots in the medical office commercial real estate space. To come back to one of our first properties nearly 20 years later, this time as a full-service real estate management firm, is a testament to our growth and the path ahead. We are looking forward to putting all our strengths to work on behalf of the Warren Medical Campus tenants.”
Warren Medical Campus has been a part of Accordia’s portfolio in some form since the firm’s inception in 2005. Accordia purchased the property four months into its founding and owned it until 2015. At that time, Accordia continued to manage the property post-sale. Now, as owners for the second time, the firm is making significant upgrades and improvements to the complex.
Among the expected renovations across all three buildings are:
● Updated corridors, new front glass doors, and new paint
● Renovated common area restrooms
● A new courtyard with seating and eating areas
● A manicured landscaping plan
● New signage for enhanced visitor and employee navigation
The improvements commenced immediately following Accordia’s acquisition of the complex.
“Our job as owners and managers is to add more value to each property in our portfolio, for the benefit of our tenants and their clients and visitors,” said Bogart. “These capital improvements go a long way in attracting new tenants, keeping current tenants happy, and impressing the patients and visitors who come to this complex every day.”
Situated between Interstate 78 and Route 22 in Somerset County, Warren Medical Campus is centrally located and easily accessible.
Warren Medical Campus is home to several notable tenants in the healthcare field, including Summit Health, which has over 2,500 providers and 12,000 employees in its network. Other medical tenants include JAG Physical Therapy, Smile Warren, Warren Pediatrics Associates, and Metro Vein Centers.
“Warren Medical Campus is ideal for any interested medical practice who wants to be within proximity to some of the most well-known names in healthcare in the Garden State,” said Frank Recine, Principal at Accordia, who is spearheading the renovations and lease-up of available space.
Warren boasts an above-average household income and 29% of the population is 65 and older, providing a diverse patient base for medical practices.
The acquisition of Warren Medical Campus comes at a significant moment for Accordia. Earlier this year, the firm expanded its scope of services to include acquisitions and capital markets, development, and third-party property and asset management. These changes were implemented in conjunction with the formation of the new leadership team which includes Frank Recine, Accordia Principal, and Matthew Pizzolato, Executive Vice President, both formerly of JLL Capital Markets and both of whom joined Accordia in key leadership positions earlier this year.
“As the commercial real estate market encounters some volatility, we made sure that we were well-equipped to meet the moment head on,” Recine said. “We are hands-on and entrepreneurial, which makes us an excellent fit to help owners or managers who may find themselves struggling in a downturn.”
Accordia is also in the midst of a flurry of real estate activity outside of the Garden State. The firm is currently closing on two industrial deals in North Carolina, soon to be announced.
“Our footprint is growing outside of New Jersey and into other desirable markets across the U.S.,” said Matthew Pizzolato, head of acquisitions for Accordia. “This is the launchpad for continued expansion into 2025 and beyond.”
Pre-built spaces ranging from 939 square feet to 8,056 square feet are currently available at Warren Medical Campus, Buildings A and C. For more information, contact Frank Recine at 973-244-7800 or visit www.accordiarealty.com.
About Accordia
Founded in 2005, Accordia is an entrepreneurial real estate firm dedicated to the creative and collaborative process of value creation through real estate investment and development. Accordia provides both property and asset management services to its institutional clients. The firm targets investment opportunities in undervalued, high-grade, income-producing commercial properties. Headquartered in Fairfield, New Jersey, the firm is noted for the creation and development of “smart growth,” mixed-use, urban and redevelopment projects. For more information, visit accordiarealty.com.