A rendering of an upgraded common space at 4 and 6 Campus Drive in Parsippany — Rendering by Ware Malcomb/Courtesy: Onyx Equities/Cushman & Wakefield
By Joshua Burd
A wealth management firm is staying in place in Parsippany after renewing its lease for more than 36,000 square feet, brokers with JLL announced.
The tenant, Summit Financial, has signed the long-term extension at 4 Campus Drive amid the landlord’s plan to modernize the 147,475-square-foot building. The upgrades by Onyx Equities, which acquired the campus last year as part of a 10-building, 10.5 million-square-foot portfolio, are now underway.
JLL Executive Vice President Christopher Conklin and Associate Chris Masi represented Summit Financial in the 36,470-square-foot deal. Cushman & Wakefield represented ownership.
“4 Campus Drive was always a great location for the clients and employees of Summit Financial,” Conklin said. “The fact that Onyx committed to bring these buildings up to a modern Class A standard further appealed to our client. The property offers a powerful mix of amenities, best-in-class retail and accessibility that made it the ideal solution for Summit’s long-term needs.”
In a news release, JLL noted that 4 Campus Drive is part of the office and retail park known as The Arbors. The property offers quick access to highways such as interstates 287 and 80 and routes 10 and 24, with proximity to downtown Morristown, Morristown Airport and the Morris Plains train station.
Plans for The Arbors call for renovating the building entranceways, lobbies, cafeteria, conference room, hallways and the courtyard connecting 4 and 6 Campus Drive. Ownership has also recently installed new rooftop HVAC units with ultraviolet light air filtration.