300 Interpace Parkway in Parsippany — Courtesy: Cushman & Wakefield
By Joshua Burd
A medical device maker has leased nearly 24,000 square feet at a Parsippany office campus, in the largest of four transactions announced Monday by Cushman & Wakefield.
Brokers for The Grand, a two-building complex just north Interstate 80, say Extremity Medical will occupy 23,753 square feet on the second floor of 300 Interpace Parkway. Meantime, NorthPointe Bank will occupy 7,157 square feet on the building’s third floor.
C&W’s William O’Keefe, Charles Parmelli, Bill Brown and Joseph Ratner represented the landlord, P3 Properties, in the transactions. The recent activity also includes a 4,481-square-foot renewal by Deerfield Management Co., a financial planner, at 300 Interpace Parkway and a 10,951-square-foot renewal by Provenir Inc., a software developer for financial institutions, at the adjacent One Upper Pond Road.
“Despite the pandemic, the New Jersey office market has experienced a modest rebound in the first quarter of 2022, as is evident from these new leases.” O’Keefe said. “Tenants are focused on best-in-class properties with high-quality amenities for their return to office. P3 Properties has done an outstanding job providing their tenants with top tier amenities by implementing capital improvements to the building including a new tenant lounge and game room as well as an outdoor dining terrace and waterside deck.”
C&W noted that The Grand is currently undergoing improvements that will result in a new tenant lounge dubbed GRAND Central. The space will include gaming areas, a café, shared conferencing and training rooms and collaborative meeting spaces, adding to existing amenities such as a fitness center, an outdoor dining terrace and a new waterside deck known as The Grove.