Accordia Realty, a full-service real estate investment firm headquartered in Fairfield announced its largest acquisition to date: a 305,114-square-foot industrial portfolio in North Charleston, South Carolina. The firm purchased the two-building industrial park, known as Remount I & II, for $48.05 million.
This acquisition is a significant step in Accordia’s strategic expansion into the Sun Belt region, representing the company’s first commercial real estate investment in South Carolina. The move connects its growing portfolio along the eastern seaboard, a key part of its new acquisition program.
“This asset is a strategic acquisition for us, as it expands our southeast platform into a new region and state; and allows us to keep connecting the portfolio up and down the eastern seaboard,” Jason Bogart, principal at Accordia said.
The Remount Business Park is currently 90% leased and is strategically located just minutes from the Charleston International Airport, with easy access to major highways. Its proximity to the Naval Information Warfare Center’s Atlantic Base and the North Charleston Port Terminal makes it a prime location for a variety of industrial tenants, including those in the defense industry.
Frank Recine, another principal at Accordia stated, “Remount Business Park has a lot of unlocked potential. Our plan is to upgrade the entire campus and give it a brand-new reputation for both our existing and new tenants.”
The acquisition marks the sixth closing for Accordia in less than 12 months as the firm approaches its goal of $100 million in new deals by year-end. Founded in 2005, the New Jersey firm specializes in joint venture investments, asset and property management, and development.
