PARSIPPANY — A prominent Class A office building located at 600 Parsippany Road is heading to a highly anticipated online auction from May 19 through May 21, 2025. The ±100,035-square-foot, three-story property is currently 69% leased and has already generated over 380,000 total views on the auction platform — a clear signal of strong investor interest in Parsippany’s evolving commercial landscape.
In Morris County’s prime business corridor, the property enjoys direct access to Interstates 287 and 80, Routes 46, 10, and 202, and features over 1,100 feet of combined frontage along I-287 and Parsippany Road. Tenants include nationally recognized companies such as Truist Bank (NYSE: TFC), Lumen Technologies (NYSE: LUMN), and local legal powerhouse Inglesino Taylor LLC, known for its influential role in land use and redevelopment law throughout the region.
The site includes 312 surface parking spaces on 8.34 acres zoned for Specialized Economic Development (SED-3A). With a current Net Operating Income (NOI) of approximately $600,000 and a Weighted Average Lease Term (WALT) of over three years, the building also benefits from an average tenancy length exceeding 13 years.
The auction occurs as Parsippany continues repositioning obsolete office properties into residential and mixed-use developments. Major nearby projects include PARQ Parsippany, The District at 15Fifteen, the Whole Foods-anchored Parsippany Marketplace, and the upcoming Topgolf complex, all enhancing area vibrancy and tenant appeal.
Ten-X is hosting the auction, with a starting bid of $1,750,000. The building is valued at $7,000,000.
