10 Waterview Blvd. in Parsippany — Courtesy: Avison Young
By Joshua Burd
A global printing equipment company has moved its North American headquarters to Parsippany, where it’s leasing nearly 35,000 square feet as part of a newly announced transaction by Avison Young.
The tenant, Bobst, has taken 33,910 square feet at 10 Waterview Blvd. after recently relocating from Roseland, Avison Young said. The company occupies the first floor of the three-story, 211,879 square-foot building just west of Route 202, which has benefited from recent upgrades.
“We are pleased to continue our representation of ownership at 10 Waterview Boulevard,” said Jeff Heller, an Avison Young principal and managing director of its New Jersey office. “Waterview Investors completed a number of significant building improvements that were key in securing Bobst’s relocation to the building, including a new roof, a best-of-class tenant conference center and extensive lobby upgrades.”
Heller represented the landlord, Waterview Investors LLC, alongside Senior Vice President Steven Geltzeiler. CohnReznick Real Estate Managing Member represented Bobst, one of the world’s leading suppliers of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries.
The manufacturer, which was founded in 1890, has a presence in more than 50 countries.
“Our new long-term lease at 10 Waterview Boulevard represents the next chapter in the growth of our organization,” said Peter Ligotti, chief financial officer at Bobst North America Inc. “We were initially attracted to the property based on ownership’s commitment to making 10 Waterview Boulevard a beautiful Class-A modern environment. But the decision to move our headquarters to 10 Waterview Boulevard has been further validated by the ease of working with ownership and the exceptional support we’ve been receiving from the building personnel during our recent transition.”
In announcing the deal, Avison Young noted that ownership has upgraded 10 Waterview with new exterior signage and outdoor tenant seating areas, along with renovated bathrooms, updated mechanicals and a modern child-care facility on an adjoining property. The landlord has sought to capitalize on the property’s location, which provides quick access to highways such as interstates 287 and 80, and its views of the 775-acre Boonton Reservoir.
“10 Waterview Boulevard continues to generate remarkable interest for a variety of businesses in the northern New Jersey region,” Geltzeiler said. “Ownership’s commitment to upgrading the property along with its fantastic location is attracting several great potential tenants throughout the market.”A global printing equipment company has moved its North American headquarters to Parsippany, where it’s leasing nearly 35,000 square feet as part of a transaction by Avison Young.