A decision by State Farm Insurance to vacate 300 Kimball Drive in Parsippany was not just an opportunity for Transwestern’s New Jersey team in 2012. It provided a roadmap for other landlords, investors and brokers to create new value within the state’s glut of suburban office stock.
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Global appeal: Foreign investors see new opportunity in New Jersey
As an investment opportunity, 800 Scudders Mill Road checked just about every box. A state-of-the-art, trophy office complex that was only three years old. A prime location just outside Princeton. And, perhaps most important of all, a net lease with a blue-chip, global pharmaceutical giant, Novo Nordisk Inc., with a longstanding presence in the market.