8 Sylvan Way in Parsippany — Courtesy: JLL
By Joshua Burd
B&G Foods has found a new home in Parsippany after leasing 46,000 square feet at a soon-to-be-updated office building, brokers with JLL announced Monday.
According to the leasing team, the company known for brands such as B&G Pickles and Ortega is moving its corporate headquarters to 8 Sylvan Way under a deal with Orion Properties Inc. The tenant, currently based less than two miles away, is also consolidating its North American operations across the entire second floor and a portion of the third floor within the east wing of the 166,039-square-foot property.
A JLL team led by Tim Greiner and David Stifelman represented ownership in the 15.7-year lease, while the firm’s Project Development Services unit will build out the space on Orion’s behalf to include a test kitchen for B&G Foods to undertake research, new product formulation and quality control. Cushman & Wakefield’s Josh Cohen and Ben Brenner represented the tenant, which is slated to move by year-end from its current space at 4 Gatehall Drive.
“Orion is pleased to welcome another distinguished tenant to 8 Sylvan Way as we advance our property’s comprehensive redevelopment plan and continue to find innovative ways to meet the demands of today’s tenants seeking office, research or laboratory space,” said Steve Palmesi, investment manager for Orion Properties.
In announcing the deal, JLL noted that 8 Sylvan Way was extensively renovated in 2009 to house the executive offices of The Medicines Co., which was later acquired by Novartis. That lease expired at the end of 2023, prompting Orion to begin overhauling the structure as a multitenant hub for companies seeking collaborative and engaging space in a prime location.
That paid off least year when Day Pitney LLP agreed to lease 55,730 square feet at the property. The law firm will relocate to 8 Sylvan in September from 1 Jefferson Road, also in Parsippany.
Orion, meantime, is scheduled to complete its multimillion-dollar update by August, according to a news release. The work includes upgrades to the parking lot, the installation of electric vehicle charging stations and new landscaping and walking trails, while the property’s three interconnected training rooms and boardroom are also being renovated with new audio-visual technology and the ability to provide town hall capacity for up to 350 people.
Ownership is also modernizing the lobby and upgrading the fitness center with new locker rooms and showers, the news release said. Additionally, tenants will be able to use expanded health and wellness services offered by LifeTime Fitness when it opens next door.
“Orion envisioned 8 Sylvan Way as a space where top-tier tenants would want to plant their flag,” Stifelman said. “In a market flooded with outdated products, the property has been reimagined from a one-tenant asset into a superior multitenant destination. With two major leases now signed, momentum is building for the remainder of the space, and we anticipate further announcements soon.”
JLL and Orion are marketing 26,000 square feet of available space across the third floor of the east wing at 8 Sylvan Way as well as 26,000 square feet on the first floor of the west wing, which has its own entrance off the parking lot, the news release said. That includes touting a location at the crossroads of interstates 80, 280 and 287, routes 46 and 202 and other major roadways and a five-minute drive from the Morris Plains train station, in a submarket that has seen a growing divergence between obsolete office space and modernized buildings.
JLL added that 8 Sylvan sits on 15 acres with a picturesque lake, outdoor seating and walking and bike trails, while tenants have quick access to restaurants, convenience and lifestyle services such as a nearby Wegmans, Seasons 52, Ruth’s Chris Steak House, Capital Grille and Panera Bread. Morristown Municipal Airport is five miles from the campus, while Newark Liberty International Airport is 24 miles away.
