8 Campus Drive in Parsippany — Courtesy: Colliers International
By Joshua Burd
Accounting and advisory firm Marks Paneth LLP has signed a long-term lease for 13,823 square feet at 8 Campus Drive in Parsippany, Colliers International Group Inc. said Monday.
In a news release, the commercial real estate services firm said the move signifies Mark Paneth’s operational expansion into New Jersey. Colliers represented Marks Paneth in its lease at the Mack-Cali Business Campus.
John Cunningham of Colliers’ Parsippany office headed the assignment with Michael Cohen and Andy Roos, who are in based in New York and represent Marks Paneth regionally, the news release said. Brian Decillis served as in-house representative for Mack-Cali, which owns the 215,265-square-foot office property.
“Marks Paneth’s business in New Jersey is growing,” Cunningham said. “The firm’s senior management wanted to establish a presence in Morris County, at a well-amenitized, high-profile property.
“This building offers a great look and feel, and it is part of the Mack-Cali Business Campus, which is emerging as a true ‘downtown’ environment, with onsite hotels, daycare, restaurants, fitness centers and shuttle service to the Morris Plains train station.”
He said future improvements on the campus will include a new Wegmans supermarket, upgraded food services, expanded and upgraded fitness centers, jogging paths and walking trails, improved outdoor spaces, new restaurants and new signage. He added that the Marks Paneth lease reflects an ongoing trend of flight to quality among Morris County office users.
“Tenants in the local market are being drawn to properties that provide a first-class image and quality accommodations for servicing clients, and attracting and retaining top talent,” he said. “In the case of Marks Paneth, the company appreciated the opportunity to partner with a quality landlord at a property that can accommodate its continued growth.”
Headquartered in New York City, Marks Paneth offers a range of accounting, auditing, tax, consulting, restructuring, bankruptcy and financial advisory services to domestic and international clients, the news release said. The firm employs more than 600 people, including over 80 partners and principals, with revenues in excess of $112 million.
With roots dating back to 1907, it is the 34th largest accounting firm in the nation and the eighth largest in the Mid-Atlantic region, according to Accounting Today, the news release said.
“We’re delighted about the prospects for future growth this new office facility presents for our firm,” said Harry Moehringer, managing partner at Marks Paneth. “Over the years, Colliers has been a key partner in our expansion across the mid-Atlantic region — and, once again, with their assistance, we have secured world-class office space in Parsippany in which to work and serve our clients.”