A well-known office complex in Parsippany is on the market for sale, brokers with HFF said, touting the chance to make additional upgrades and lease up more than 180,000 square feet.
Redevelopment of ‘white elephant’ in Parsippany is moving ahead, anchored by plans for downtown-style shopping and dining
Four years after acquiring a defunct office complex in Parsippany, Stanbery Development Co. is on a clearer path toward fulfilling its plans for a high-end, downtown-style destination at the 17-acre site, which includes about five acres in neighboring Hanover. Known as The District at 1515, the project calls for 100,000 square feet of retail space, 441 residential units and a hotel.
Breaking through
As you’ll read in this month’s cover story, Stanbery Development Co. has spent more than four years navigating local politics and state regulations in its quest to redevelop a vacant office complex in Parsippany. But the firm is now on a path toward fulfilling its vision, which calls for a mixed-use, downtown-style development anchored by high-end restaurants and retail.