MONTVALE, NJ—Accordia RealtyVentures signed two small-ish leases at its buildingat 305 West Grand Ave. here recently - small, but significant onits path to repositioning the property as a medical officebuilding.

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Bergen Gastroenterology P.C. took 5,723 squarefeet and Hackensack UMC at Pascack ValleyHospital signed on for 2,273 square feet at the27,000-square-foot building.

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Accordia acquired the single-story office building in2009. The office market was anemic in general in northern NewJersey, but Accordia quickly found a medical tenant, MontvaleHealth Associates, to take 7,500 square feet at 305 West Grand andbring it to 100% occupancy.

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At that point, Accordia embarked on a strategic plan torenovate and reposition the entire building for medicaluse.

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“These new leases are a testament to the building's risingreputation as a premier medical office location in Northern NewJersey,” says Accordia's marketing director, SarahLoudon.

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The Fairfield-based owner upgradedthe HVAC system, replaced the roof and added more parking, bringingthe parking ratio to five cars per 1,000 square feet, an importantamenity for medical offices.

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Other office users began vacatingthe building earlier this year and Accordia accordingly beganbackfilling space with medical users, which remains the plan goingforward.

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