KenKap: Route 46 office, restaurant properties in Parsippany trade for $4.2 million

Jan 6, 2023 | Deals, Office, Retail and Entertainment

1280 Route 46 in Parsippany — Courtesy: KenKap Realty Corp.

By Joshua Burd

A local investor has purchased the site of an office building and an adjacent restaurant property in Parsippany for $4.2 million, in a transaction arranged by KenKap Realty Corp.

The broker on Thursday said the deal spans nearly three acres across 1280 and 1300 Route 46, home to the 15,000-square-foot commercial building and an Outback Steakhouse, respectively. Shree Troy Hills LLC, a major investor in Parsippany, purchased the properties from two family investment groups with overlapping ownership.

Kenneth Kaplan of KenKap Realty Corp. represented the buyer and sellers.

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Joshua Burd

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.