By Real Estate NJ
Mack-Cali Realty Corp. has sold a 100,000-square-foot office building at 600 Parsippany Road in Parsippany, brokerage firm HFF announced.
In a news release, HFF said it represented Mack-Cali in the sale to a joint venture of Bukiet Building Management and Mountain Development Corp. Terms were not disclosed.
The three-story, black glass building, which sits just off Interstate 287, is less than two miles from Interstates 80 and 280 and Routes 24, 46, 10 and 202. It is 92 percent leased to tenants such as Aerotek, Level 3 Communications and Sonneborn and includes features such as a newly renovated lobby and a full-service café.
The HFF investment sales team representing the seller was led by Senior Managing Director Jose Cruz, Managing Director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and Associate Director Marc Duval.
“600 Parsippany Road is a quality asset located within the prime Morris County office market,” Cruz said. “The property provides the new owners with stable cash flow given its current occupancy and the potential upside given leasing the remaining space at higher rents.”