100 Jefferson Road in Parsippany — Courtesy: Cushman & Wakefield
By Joshua Burd
The owner of a newly upgraded, 550,000-square-foot warehouse in Parsippany has tapped Cushman & Wakefield to market the complex to would-be tenants.
In a news release Tuesday, C&W said it was marketing roughly 200,000 square feet of available space at 100 Jefferson Road. The firm touted the building as one of the largest warehouse and distribution availabilities in northern New Jersey, following a $4 million overhaul by an ownership group led by Turnbridge Equities.
The C&W leasing team includes Andrew Siemsen, Jason Goldman and Michael Kimmel, touting the property’s 19-foot ceiling heights, nine loading docks and two box truck doors.
“Additionally, it provides immediate access to a residential population of more than 16 million people within a one-hour drive, making it ideal for last-mile and e-commerce distribution,” Siemsen said. “New ownership, led by Turnbridge Equities, has invested millions of dollars in improving the property and providing Class A experience for tenants. This is truly a one-of-a-kind opportunity in this highly sought-after market with very limited availability and an overall vacancy rate of only 3 percent.”
Improvements at the complex include new warehouse space, upgraded office space, restrooms and building entrances, resurfaced parking areas and new mechanical systems and lighting. C&W is hoping to capitalize on the building’s location at the nexus of interstates 80 and 287 and minutes from routes 10, 46 and 202 and downtown Morristown.
The building also has roughly 200 on-site parking spaces.
