343 Walsh Drive in Parsippany — Courtesy: NAI James E. Hanson
By Joshua Burd
Two health care and life sciences companies have found new homes in Morris County, following a set of leases brokered by NAI James E. Hanson.
The real estate services firm said that Multi-Pak, a pharmaceutical packaging business, has leased 27,169 square feet at 343 Walsh Drive in Parsippany. The second deal brought Allied Innovative Systems, a health care research and development firm, to 1,560 square feet at 13 Watchung Ave. in Chatham.
NAI Hanson represented the landlords at both locations, the firm said in a news release. Scott K. Perkins and Chris Todd represented Cranberry Realty, the landlord at 343 Walsh Drive, while Thomas W. Ryan represented 13 Watchung Avenue LLC in the Chatham deal.
“These deals highlight the trend of continued high demand from health care companies for prime office and industrial space in Morris County,” Perkins said. “Morris County’s highly-educated workforce and proximity to several leading international pharmaceutical companies and renowned hospitals has made it the center of New Jersey’s continued health care resurgence.
“The addition of these companies further reinforces this position for the county and has enabled landlords to secure a premium price per square foot for their properties.”
The Parsippany building is part of the Fox Hill Industrial Park and is fully air-conditioned with 22-foot ceilings, NAI Hanson said. Located minutes from Interstate 80 with direct access to New York City via the George Washington Bridge, the property will allow Multi-Pak to meet the high safety and production standards demanded by its industry.
Allied Innovative Systems’ new space sits within an 8,908-square-foot flex property at 13 Watchung Ave., the news release said. The modern office space provides close proximity to Route 24 with access to interstates 287 and 78.
“The location and modern amenities offered by these two locations made these properties highly-desirable for health care companies seeking office and industrial space in Morris County,” Ryan said. “The properties will allow the tenants to continue to make valuable contributions to healthcare research and production in New Jersey.”