222 New Road in Parsippany — Courtesy: Saddleback Real Estate Developers
By Joshua Burd
Saddleback Real Estate Developers has leased more than 30,000 square feet in Parsippany to a bearing products distributor, the investment and management firm said this week.
The tenant, AST Bearing LLC, committed to 30,809 square feet at 222 New Road. The deal gives the company a location minutes from Route 46 and interstates 80 and 280.
Matthew Turse of Avison Young represented the tenant, while Saddleback was represented in-house by Salvatore Frassetto.
“Saddleback is known to have an extremely low vacancy rate due to our high level of property management and maintenance,” Terry Frassetto, president of the Fairfield-based firm, said in a prepared statement. “Our tenants stay with us long term so we really see very little turnover in our portfolio.”
