959 Route 46 in Parsippany — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has acquired a more than 131,000-square-foot office building in Parsippany for $10 million, brokers with The Kislak Co. Inc. announced Friday.
The property, 959 Route 46, sits on 7.98 acres and has a diverse tenant roster that benefits from its access to interstates 80 and 27 and New York City, according to a news release. Occupants are also minutes from a concentration of corporate campuses, hotels, restaurants and retail amenities, while the 131,346-square-foot building has a two-story atrium lobby and on-site food service.
Kislak Senior Vice President Tom Scatuorchio and Managing Director Matt Weilheimer represented both parties in the off-market sale, noting that the buyer is a longtime client of the Woodbridge-based firm.
“This was a highly collaborative and creative transaction that required aligning the objectives of the buyer and seller,” Scatuorchio said. “By leveraging our longstanding relationships and market expertise, we structured a transaction that achieved a successful outcome for all parties. We value our relationships with the buyer and seller and look forward to future opportunities with them.”
With the acquisition, Kislak has completed five transactions with the buyer in deals involving nine properties totaling more than 330,000 square feet.
