Northpoint at 20 Waterview in Parsippany — Courtesy: Vision Real Estate Partners
By Joshua Burd
An insurance firm has leased nearly 7,000 square feet at a Parsippany office building, one of the latest suburban properties to be upgraded and modernized by Vision Real Estate Partners.
The tenant, New Agency Partners, is taking 6,600 square feet at what’s known as Northpoint at 20 Waterview. The full-service agency is relocating its headquarters from 99 Cherry Hill Road, also in Parsippany, and will move into the fourth floor of the 225,000-square-foot complex.
Resource Realty represented NAP in the transaction, while Colliers International represented Vision.
“Northpoint at 20 Waterview meets tenants’ demands for quality and value unique to the marketplace,” Sam Morreale, founder and managing partner of Vision Real Estate Partners, said in a prepared statement. “Every Vision property is designed to provide our clients with the best possible services and most desirable indoor and outdoor spaces to ensure that companies and their employees are able to thrive and reach their full potential.”
The deal follows Vision’s 2018 acquisition of the building from Mack-Cali Realty Corp. The landlord recently completed a multimillion-dollar renovation that included a redesign of the building’s lobby, amenities and common areas, with additional upgrades still to come.
To date, Vision has added built-in seating that wraps around the lobby’s structural columns and has integrated designated gaming areas that feature a full-sized pool table and a chessboard with four-foot-high pieces, according to a news release. The building also boasts features such as private phone booths and collaborative work areas with WiFi and power ports.
Elsewhere, Vision completed a full roof replacement and renovated the building’s restrooms, the news release said. The third phase of its capital plan will include enhanced landscaping, outdoor dining area improvements and renovations to the café and fitness center.
“Just like insurance isn’t a one-size-fits-all solution, neither is that perfect office space,” said Steve Peck, managing partner of New Agency Partners. “But thanks to Vision’s completely in-house, local property management team, we’re confident that we’ve found the perfect new home at Northpoint. My team and I are thrilled to start this exciting new chapter of our agency.”
