PARSIPPANY — Cushman & Wakefield has been appointed to market 11 Waterview Boulevard as a headquarters opportunity for sale or lease. The 120,000-square-foot office asset sits immediately off Route 46, at the intersection of Interstates 287 and 80, and represents the largest, Class A user-purchase opportunity in the immediate market.

“This is an outstanding offering for a company that wants to own its headquarters space and, therefore, control its real estate destiny,” noted Cushman & Wakefield’s Jeffrey Prezant, who is heading the assignment with James Frank and Dan Johnsen, based in the commercial real estate services firm’s East Rutherford office. “And because the building is newly improved from top to bottom, it requires no immediate capital infusion. It is gorgeous space, in move-in condition.”

The three-story building features a stately pre-cast concrete façade and a full-height ceremonial staircase connecting its three stories. Each floor is finished with perimeter offices, an open-format collaborative core with work pods, and a bistro-style kitchenette with high-top tables and lounge seating. Building amenities include a full-service, 200-seat cafeteria, fitness center with lockers and showers, and multiple conference rooms. Its future occupant will also benefit from Category six wiring, multiple fiber carriers and an IT room with dedicated cooling.

According to Frank, 11 Waterview Boulevard’s visibility and location also makes it a strong branding play. “The property sits high on the north side of Route 46 and I-287, enabling prominent building signage,” he said. “The entire site projects a corporate headquarters-quality image. And the surrounding neighborhood creates a truly walkable environment that lends work/play balance, with nearby dining, shopping and recreation.”

11 Waterview Boulevard is coming available this summer. Office, conference room and cafeteria furnishings are available for its future buyer or tenant.

11 Waterview Boulevard marks the third assignment Cushman & Wakefield has spearheaded for the current ownership – a private, family-owned real estate investment firm. The team recently closed on the disposition of a 14-acre land site on Route 23 in Wayne, which CarMax purchased.

Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more click here.

PARSIPPANY — Arcadian Capital Group purchased 35 Waterview Boulevard from Mack-Cali Realty Corp for $29 million.

The 172,490-square-foot 35 Waterview Boulevard is located on approximately 12.9 acres of land and features 600 parking spaces. The building was constructed in 1990. The four-story office building had 15 tenants and was 95.7 percent occupied when bought by Arcadian Capital Group.

The Waterview Corporate Center is a six-building, Class A office complex totaling approximately one million square feet. The center is located at the intersection of Route 46, Route 202 and Interstate 287 and is less than a half-mile from I-80. The stretch of Route 46 three miles east and west of Waterview Corporate Center is one of northern Morris County’s most active retail corridors, including numerous restaurants, grocery stores, major retailers, hotels, bank branches and more.

Jones Lang LaSalle, (JLL), also arranged a joint venture partnership between PGIM Real Estate and developers JMF Properties, RD Management LLC and Ripco Real Estate Corp. for the development of Waterview Marketplace, a 150,150-square-foot shopping center that will be anchored by a 47,558-square-foot Whole Foods supermarket.

PARSIPPANY — Vision Real Estate Partners continues the expansion of its northern New Jersey office footprint with the acquisition of a 226,317-square-foot, Class A office building. The four-story property at 20 Waterview Boulevard is situated within the Waterview Corporate Center. The building was purchased for $13 million from Mack-Cali Realty Corp.

20 Waterview Boulevard, which is the largest of the premier office park’s buildings, and is suitable for small and large users alike, features flexible floor plates that allow for contiguous suites from 10,000 to 100,000 square feet.

Morris County’s central location and extensive transportation network continue to play an important role in the continued growth and development of the region’s office market as does its deep, educated talented pool. The Parsippany submarket is one of the largest Class A submarkets in New Jersey.

“20 Waterview Boulevard was particularly attractive to us and will undergo extensive redevelopment and rebranding as it combines future core-plus stability with a current value-add component on the leasing side,” said Vision Real Estate Partners’ Sam Morreale, founder and managing partner. A full-service real estate owner/operator, Vision Real Estate Partners is recognized for accommodating the needs of corporate space users of all sizes in the Garden State.

JLL served as the exclusive sales agent in the transaction. Colliers International will be handling the leasing.

“We are planning extensive renovation projects to transform 20 Waterview Boulevard into a fully-amenitized building, providing current and future tenants with an enhanced corporate environment,” added Morreale. Renovations will include an updated lobby with collaborative space and exterior upgrades as well as creative amenity facilities.

20 Waterview Boulevard is immediately adjacent to the complex, Waterview Marketplace, a Whole Foods-anchored retail center, including a Shake Shack and other retail amenities that is under construction, and is nearby one of the area’s most active retail corridors with a variety of retail and dining options. It is ideally situated at the intersection of Route 46, Route 202 and Interstate 287 and is within less than one mile of Interstate 80.

The Waterview Corporate Center is a six-building office complex totaling approximately one million square feet, at the intersection of Route 46, Route 202 and Interstate 287 and less than a half-mile from I-80. The stretch of Route 46 three miles east and west of Waterview Corporate Center is one of northern Morris County’s most active retail corridors, including numerous restaurants, grocery stores, major retailers, hotels, bank branches and more.

Constructed in 1988, the 225,550-square-foot 20 Waterview Boulevard occupies about 16.8 acres of land and features 778 parking spaces. The four-story office building had five tenants and was 43.9-percent occupied when acquired by Vision Real Estate Partners.

Vision Real Estate Partners is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its pioneering creation of “experiential” suburban campus environments combining work, play, well-being and sustainability – designed for today’s cross-generational workforce. The company currently operates, is constructing or redeveloping more than 5 million square feet of space in its local market. Vision Real Estate Partners has over 150 acres of land parcels available for mixed-use and build-to-suit opportunities. Vision’s in house property management team also oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners.