Accordia bolsters Carolinas portfolio with 46,400 s/f
- MAREJ
- 4 hours ago
- 3 min read
NJ-firm acquires fully leased, 2-building industrial property
Charlotte, NC — Accordia announced that it has acquired a 46,400 s/f, two-building shallow-bay portfolio in the Union County submarket of Charlotte. This marks the firm’s second acquisition in the Carolinas as it continues its strategic expansion beyond the Northeast. The off-market transaction was sourced through Foundry Commercial.
Located at 135-141 Cupped Oak Dr. in Stallings, North Carolina, the property was constructed in 1999 and 2004 and feature highly functional, flexible spaces tailored to the region’s industrial tenants. With 18-foot clear heights, 11 dock-high doors, and 9 drive-in doors, the park accommodates a variety of tenant needs. Suite sizes range from 7,000 to 16,200 s/f, offering the flexibility to scale spaces in response to market demand. At the time of sale, the property was 100% leased to five tenants.
The acquisition is strategically located in the Union County submarket, one of Charlotte’s most supply-constrained industrial areas. With a vacancy rate below 0.50% for shallow bay product, the market faces a limited supply of new development and a high percentage of owner-occupied buildings. Charlotte’s broader industrial sector has experienced record-breaking absorption, heightened transaction activity, and an 11% year-over-year rental rate increase from Q1 2023 to Q1 2024, with continued growth expected throughout the year.
“We are thrilled to add 135-141 Cupped Oak Dr. to our portfolio,” said Matthew Pizzolato, executive vice president and Head of Acquisitions and Capital Markets at Accordia. “This acquisition strengthens our foothold in the Charlotte market and aligns with our strategy to acquire highly functional, shallow-bay industrial properties in infill locations below replacement costs.”
In other news, a general and cosmetic dentistry practice with a passion for the patient experience is calling Montvale, NJ home.
Kallos Dental signed a long-term lease for 3,100 s/f at the Accordia- managed 160 Summit Ave. in Montvale, located in northern Bergen County. The practice is opening in May 2025.
Kallos Dental was represented by Nick Yanakas of CARR Realty. Accordia has managed 160 Summit Ave. since April 2024, represented the landlord.
“Kallos Dental is joining many stellar professionals in Montvale who are all focused on elevating the patient care experience,” said Frank D. Recine, principal, Accordia. “Some of the biggest names in healthcare in our region call Montvale home, like Memorial Sloan Kettering Cancer Center, Hackensack Meridian Medical Group, Valley Health, Orthopedic Specialists of New Jersey, and CityMD urgent care. Kallos Dental is adding to the impressive roster of available treatment and care options in Montvale.”
“I wanted windows, I wanted natural light — I think that’s good for the psyche,” Cocchia said. “When I saw 160 Summit, I knew immediately that it checked a lot of the boxes.”
Cocchia said she chose the Montvale location for its proximity to I-287 and the Garden State Parkway, and to be close to home in Bergen County.
“I have always been a proponent of small business and creating family-like relationships, so I think it’s important to have that sense of community in my practice,” Cocchia said. “I’m trying to foster a lot of strong positive feelings in the Bergen County community. I want it to feel like you’re coming in and you’re seeing family, to create more trusting relationships between healthcare providers and patients.”
Kallos Dental joins an impressive list of healthcare-centric professionals who call 160 Summit Avenue home, including:
● Moon Implants & Perio, which signed a long-term lease in 2024
● Rubinstein Plastic Surgery Center LLC, a state-of-the-art cosmetic surgery center led by New York’s premier facial plastic surgeon Dr. Ran Rubinstein
● Empowered Pelvic Health, LLC, specializing in pelvic floor therapy, led by Dr. Carly Gossard, and
● Center for Resiliency, LLC, specializing in transformative evidence-based psychotherapy, led by Dr. Carol Chu-Peralta.
“Montvale is the place to be for medical professionals of all specialties,” said Recine. “This area is home to some of the most impressive names in healthcare. Operating a practice close to these institutions aligns healthcare practices, both physically and philosophically. It’s also incredibly convenient for patients, who can find quality care in one area of one town.”
