PARSIPPANY — Transwestern announces it has been retained to serve as exclusive leasing agent for the largest block of office space currently available in the Parsippany submarket. Transwestern Partner and City Leader James Postell and Vice President Dan Ligorner will market the opportunity to sublease the entirety of Two Hilton Court, a 181,592-square-foot, Class A property within the prestigious Mack-Cali Business Campus.
A four-story building featuring a reflective glass façade, Two Hilton Court is centered by a grand, sky-lit atrium and comprises flexible and space-efficient floor plates that are ideal for companies of all types and sizes and suitable for either a single user or multiple tenants.
The sublease opportunity, which includes building naming rights, comes at a time when tenants are showing renewed interest in New Jersey’s suburban office properties. 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 levels 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.
“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.”
At Two Hilton Court, occupants enjoy a newly renovated fitness center with top-of-the-line equipment, a group training room and shower facilities; an on-site, full-service cafeteria; and plug-and-play conference and training centers with video-conferencing capabilities. The building features state-of-the-art technology and building systems, including fiber-optic risers for high-speed voice and data transmission, roving security, CCTV and 24/7 card access. Two Hilton Court is one of the 17 office buildings within Mack-Cali Business Campus’ 600 acres of meticulously landscaped grounds that feature ponds, fountains, and outdoor seating.
Additionally, tenants have access to a host of campus amenities including banking, childcare, and the four-star Hilton Parsippany, which is home to Ruth’s Chris Steak House and features heated indoor and outdoor pools and complimentary shuttle service to the NJ Transit Morris Plains train station with direct service to Midtown Manhattan.
Located immediately off Interstate 287 and Routes 10 and 202 in Morris County – home to numerous Fortune 500 companies and one of the region’s most highly educated labor forces – Mack-Cali Business Campus is proximate to a large network of major highways that includes interstates 80 and 78, the New Jersey Turnpike, and the Garden State Parkway. The location puts tenants just 45 minutes from Manhattan and a short drive from Newark Liberty International Airport, Morristown Airport and many of New Jersey’s most sought-after residential areas.
“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.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.