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Former Capital One Bank Building Sold

PARSIPPANY — The building that once housed Capital One Bank at 1295 Route 46 has found a new owner in Shree Developers.

During conversations with the developer, he expressed strong assurance to Parsippany Focus regarding the upcoming tenant, a detail kept under wraps for now, emphasizing their seamless integration with the burgeoning developments along Route 46. The property is adjacent to the office complex, which is marked for demolition to make way for the new Top Golf.

Redevelopments of this scale generate job opportunities, both temporary (construction, renovation) and permanent (staffing for new establishments), which is beneficial for the local economy.

In related news, the nearby Empire Diner has changed hands and currently sits idle, with its future hanging in the balance. While there’s a conspicuous absence of signage indicating any forthcoming ventures, behind-the-scenes negotiations are actively seeking to fill the vacancy.

In a development across the street from where Capital One once operated, preparations are underway to welcome a Chick-fil-A outlet to the neighborhood.

The financial particulars of the recent sale have come to light, revealing a $3 million price tag for the property.

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Frank L. Cahill
Frank L. Cahill
Publisher of Parsippany Focus since 1989 and Morris Focus since 2019, both covering a wide range of events. Mr. Cahill serves as the Executive Board Member of the Parsippany Area Chamber of Commerce, President of Kiwanis Club of Tri-Town and Chairman of Parsippany-Troy Hills Economic Development Advisory Board.
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