EarlyShares, a real estate crowdfunding platform that gives accredited investors direct access to commercial real estate opportunities, has announced a new venture with Accordia Realty Ventures. Their second offering on EarlyShares, Accordia debuted the Shoppes at Godwin, an equity investment opportunity in the redevelopment of a mixed-use property in Midland Park, New Jersey. Dedicated to the creative and collaborative process of value creation through real estate investment and development, Accordia formed in 2005 to focus on industrial, retail, office and residential asset classes, as well as mixed use urban redevelopment projects in Northern New Jersey. To date, Accordia has closed over $140 million in investments for 1.3 million square feet of commercial space.
The property was originally developed in the 1960s and will be redeveloped into a Class A shopping center complete with new facades, storefronts, and tenants; Accordia has signed a new 10-year lease with Domino’s for 1,350 square feet and is negotiating LOIs with other national franchises.
Already 65% leased (limiting downside risk) and showing strong leasing activity, with rental rates for new tenants now 200% higher than in-place, the property is located in affluent Bergen County, New Jersey where retail space is in high demand. The team includes Principals and Accordia cofounders Joe Romano and Jason Bogart, Senior Real Estate Manager Christopher Hayes and Director of Marketing Sarah Loudon. Other currently live EarlyShares campaigns include NYC multi-family properties, a downtown Las Vegas Redevelopment and Racquet Club Apartments in Lancaster, California.
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