Updated Mar 2, 2026
Frank D. Recine Of Accordia Signs 76K Sq. Ft. Leases Across Northern New Jersey Office Assets
669 River Drive & 100 Passaic Avenue
Building Size
76,000 SF
Asset Type
Office
Closing
Mar 2, 2026
About this deal
AI
The transaction involves an office asset located at 669 River Drive and 100 Passaic Avenue, encompassing a total square footage of 76,000. The market spans Elmwood Park and Fairfield, New Jersey, focusing on well-located Class A office space near major commuter highways including Interstate 80 and Route 46. The properties feature upgraded amenities and managed tenant environments.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 76,000
- Address: 669 River Drive & 100 Passaic Avenue
- Market: Elmwood Park & Fairfield
- Landlord: Frank D. Recine
- Management Company: Accordia
Accordia has successfully signed nearly 76,000 square feet of leases and renewals across two office properties in Northern New Jersey. This reflects steady leasing momentum in the region, supported by the strategic location and enhanced tenant experiences at both River Drive Center II in Elmwood Park and Greenbrook Executive Center in Fairfield.
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Elmwood Park Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93