2 Hilton Court in Parsippany — Courtesy: Transwestern
By Joshua Burd
Brokers with Transwestern are marketing a nearly 182,000-square-foot office building for sublease in Parsippany, in what they say is the largest block of such space in the submarket.
The firm said last week that it had been retained as the leasing agent for the property at 2 Hilton Court, which sits within the Mack-Cali Business Campus. The brokers are touting recent renovations to the building, the availability of naming rights and improvements to the surrounding area.
Transwestern Partner and City Leader James Postell and Vice President Dan Ligorner will market the sublease opportunity within the four-story building.
“In recent years, Parsippany has re-emerged as one of New Jersey’s preeminent office markets, with major corporate tenants moving their headquarters here,” Postell said. “We expect that trend to continue in the coming years as companies remain hyper focused on finding the right combination of amenities and location.
“As such, this opportunity to occupy and secure the branding rights for an entire building in the market’s premier business park is extremely rare.”
Transwestern noted that, at the end of the second quarter this year, 14 of the 19 suburban submarkets in the northern and central parts of the state had experienced increased occupancy during the previous 12 months. This includes the Parsippany region, which has experienced nearly 500,000 square feet of positive net absorption during that period, the most among all New Jersey submarkets.
The property at 2 Hilton Court includes a grand sky-lit atrium and comprises flexible and space-efficient floorplates that could support a single user or multiple tenants, the firm said. The building has a newly renovated fitness center, a group training room and shower facilities, along with an on-site, full-service cafeteria and plug-and-play conference and training centers with videoconferencing capabilities.
The building is one of 17 within the well-known Mack-Cali Business Campus. Tenants have access to campus amenities such as banking, childcare and the Hilton Parsippany.
The campus is immediately off Interstate 287 and routes 10 and 202, offering access to interstates 80 and 78, the New Jersey Turnpike and other highways.
“The factors that established Parsippany as a hotbed for corporate headquarters decades ago are the same things driving leasing activity in the market today: a centralized location amid major highways and a population that boasts an extremely talented pool of workers,” Ligorner said. “That paradigm has only been further cemented in recent years as the quality shopping, dining and business services in the area have expanded.”