3 Sylvan Way in Parsippany — Courtesy: Onyx Equities
By Joshua Burd
Onyx Equities has leased more than 43,000 square feet in Parsippany to Acrisure, a major fintech insurance firm, inking its latest deal at a revitalized five-building office campus.
The tenant, which is based in Grand Rapids, Michigan, will use the space at 3 Sylvan Way to consolidate several New Jersey offices. It joins a fast-growing list of prominent tenants at what’s known as The Arbors @ Parsippany, following Onyx’s investment in upgraded common spaces and amenities that have helped drive new leasing activity across the 750,000-square-foot portfolio.
JLL’s Blake Goodman, Adam Karafiol and Chris Romano represented ownership in the 43,176-square-foot deal, while Newmark’s Jared Horowitz and Jamie Ragucci Clark represented Acrisure. Rock Brook is the MEP/FP engineer for the project.
“Acrisure takes great pride in being a global fintech leader and being seen as trusted advisers to our clients,” said Michael Iannaconi, a senior vice president for the company’s east division. “Our 800 professionals across New Jersey — comprised of experienced fintech and insurance experts — bring exceptional depth, talent and industry expertise to serve our diverse client base with global solutions across insurance, reinsurance, payroll, benefits, cybersecurity and mortgage services. This move reinforces our commitment to innovation, collaboration and excellence in the industry allowing us to grow and expand our strategic campus at The Arbors @ Parsippany providing an excellent environment for our employees and clients.”
Founded in 2005, Acrisure employs more than 21,000 people worldwide and boasts global revenues approaching $5 billion annually, according to a new release. The company said it integrates high-level human support with advanced technology and artificial intelligence to provide insurance for consumer and business customers, while it has expanded its core businesses and raised its profile by sponsoring the home field of the NFL’s Pittsburgh Steelers.
Its future home at The Arbors has amenities such as a modern 5,200-square-foot fitness center, three cafes, conference facilities, multiple social lounges, outdoor dining areas and recreational spaces for relaxation and entertainment, Onyx said. Surrounding the campus is abundant green space that includes 1.5 miles of walking, biking and hiking paths, while the landlord provides shuttle service to NJ Transit’s Morris Plains station.
“We are thrilled to welcome Acrisure to The Arbors @ Parsippany. Their presence not only enriches our campus community but also reflects a growing trend among companies to centralize in modern, amenity-rich locations that offer convenient access,” said Jonathan Schultz, cofounder and managing principal of Onyx Equities. “The office culture we’ve cultivated at The Arbors, along with our other properties, has driven increased demand from exceptional companies like Acrisure, who seek an engaging campus atmosphere that fosters collaboration and creativity.”
Onyx has attracted other sizable tenants in recent months, including law firms Porzio, Bromberg & Newman and Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno PC, which committed to spaces of 43,101 and 26,693 square feet, respectively. The deals and many others follow an investment that also resulted in newly designed entries and lobbies and upgraded roofs and rooftop HVAC systems, augmenting a location at the crossroads of routes 10 and 202 and minutes from many other highways.
Onyx, NJM ink 53,000 sq. ft. lease for insurer’s new home in Parsippany
