A rendering of an amenity space at Latitude, a two-building, 700,000-square-foot office campus in Parsippany owned by Vision Real Estate Partners and Rubenstein Properties LP — Courtesy: Vision Real Estate Partners/Nelson
By Joshua Burd
One of the state’s top accounting firms will debut its new headquarters this summer, when it moves to a soon-to-be-transformed, two-building office campus in Parsippany.
The property’s ownership, affiliates of Vision Real Estate Partners and Rubenstein Partners LP, on Tuesday detailed a new 39,810-square-foot lease with Sax LLP. The firm is slated to relocate in August to the campus known as Latitude, which spans 700,000 square feet and is in the midst of a high-profile, hospitality-themed overhaul by the landlords.
Tim Greiner and Brendan McBride of JLL represented Sax in the transaction.
“Latitude is designed to transcend the traditional work routine,” said Sam Morreale, founder and managing partner of Vision Real Estate Partners. “At Latitude, you don’t just come to the office to work — you come here to share experiences across disciplines and companies to become the most successful version of yourself. We look forward to being a part of this exciting new chapter in the future of Sax LLP.”
The upgrades at Latitude will transform the 35-acre campus into a modern, all-encompassing workplace that features common spaces inspired by U.S. cities — from New York to Denver to Los Angeles. The new design will channel the straight line, east-to-west layout of the mirror-image buildings, which sit along Interpace Parkway and just north of Interstate 80.
Sax, which is currently based in Clifton, is the first new tenant to commit to the redesigned space. The lease with comes alongside a recent 187,000-square-foot renewal and expansion by Reckitt Benckiser, a British consumer good company that was an existing tenant.
“As our firm has succeeded and rapidly grown over the years, we’ve paid close attention to the ever-changing needs of our employees and clients,” said Joseph Damiano, managing partner at Sax LLP. “With that, we’ve worked to find an environment that brings our capabilities to the next level and strengthens us for the future. Latitude provides us with world-class services, amenities and an environment that will help us attract the next generation of our workforce. Combined with the building’s innovative design, one can’t help but feel energized working at Latitude.”
Vision and Rubenstein acquired the two buildings, formerly known as Morris Corporate Center IV east and west, in early 2018 in separate transactions. They are now integrating the buildings and treating them as two symmetrical five-story wings comprised of offices, meeting spaces and lifestyle services and experiences.
The wings will connect through a new central glass atrium built by Vision and Rubenstein, featuring multiple dining options and multiple fitness spaces reflecting different regions of the U.S., depending on whether they are on the east or the west side of the campus.
“We believe that the continued leasing momentum at Latitude reflects our ability to consistently create the most desirable product in the best locations,” said Stephen Card, Director of Investments and Principal at Rubenstein. “Together with Vision we have made a place for modern businesses, and tenants are embracing it. Latitude is centrally located in Morris County among a community of top corporate neighbors with direct access to retail and services.”
