9 Entin Road in Parsippany — Courtesy: Newmark
By Joshua Burd
American Equity Partners has completed a major renovation of a Parsippany office building, where it’s reaping the benefits with nearly 91,000 square feet in recent leasing activity.
According to Newmark, the agency team at 9 Entin Road, the deals include a long-term, 19,785-square-foot commitment by Aetna Life Insurance/CVS Health. The health services and insurance provider will occupy part of the second floor, in a deal that involved relocating and expanding the tenant’s footprint at the building.
Newmark also represented AEP in a 42,342-square-foot renewal and expansion with HNTB Corp., an American infrastructure design firm, on the second floor of the 200,000-square-foot building. Meantime, Wireless Telecom Group Inc. has signed a new long-term lease to occupy 28,477 square feet on the first floor for a business that designs and manufactures radio frequency and microwave-based products for wireless and advanced communications industries.
The deals have closed within the last six months, with Newmark Senior Managing Director Jamie Drummond and Associate Director Andrew Perrotti leading the brokerage team.
“With the implementation of ownership’s robust capital improvement program, we continue to witness leasing demand at 9 Entin Road,” Drummond said. “This latest momentum at the property illustrates how Class A properties are a top choice for office users.”
The deals follow AEP’s recent completion of its multimillion-dollar update of the three-story building, which sits just off Interstate 287. Upgrades included the addition of a modern conference center and tenant lounge, new food service, modernized lobbies and restrooms, a fitness center with locker room and shower facilities and updated landscaping.
Newmark is still marketing up to 22,000 square feet at the property.
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