PARSIPPANY — Parsippany continues solidifying its status as a premier business destination, with another notable tenant relocating to The Arbors @ Parsippany.
Woodbridge-based Onyx Equities has announced a significant new lease with Porzio, Bromberg & Newman PC. This marks the second major law firm in recent months to shift its headquarters from Morristown to Parsippany.
On January 17, Woodbridge-based Onyx Equities announced that Porzio, Bromberg & Newman PC inked a 16-year lease for 43,101 square feet at 5 Sylvan Way. The firm, which has called Morristown home since its founding in 1962, is moving its headquarters from 100 Southgate Parkway to the newly upgraded Parsippany campus.
“Our firm has been in Morristown for its entire existence, so it took something spectacular to lure us to a new location, admittedly only a few miles away,” said Porzio Managing Principal Vito Gagliardi Jr. “The attraction to us goes beyond the physical office and includes the entire campus and the extraordinary professionals at Onyx. I thank my colleagues Carmen Andrade, Diane Averell, Nick Drappi, and Phil Siana for capably leading the team that negotiated our new lease. We look forward to moving our headquarters to The Arbors.”
“Parsippany has established itself as a premier location for businesses in New Jersey, and the decision by Porzio, Bromberg & Newman PC to relocate their headquarters here is a testament to our town’s appeal,” said Frank Cahill, Chairman of Parsippany-Troy Hills Economic Development. “With outstanding amenities, accessibility, and a thriving business community, Parsippany continues to be the ideal destination for companies looking to grow and succeed.”
The relocation reflects the ongoing appeal of The Arbors @ Parsippany, which recently underwent a $15 million capital improvement campaign completed by Onyx Equities in 2023. The updates transformed the bucolic, 60-acre, five-building campus into a modern, amenity-rich professional hub.
The Arbors now offers an array of in-demand features, including a 5,200-square-foot fitness center, three cafés, conference centers, social lounges, outdoor dining spaces, and recreational areas. The campus also hosts regular event programming and provides 1.5 miles of walking, biking, and hiking trails. Accessibility is another major draw, with the property connected to nearby Interstates 80, 280, and 287, U.S. Routes 46 and 202, and New Jersey Routes 10 and 53. Additionally, a NJ Transit shuttle service provides convenient access to train lines, making it easy for employees to commute.
“The Arbors has become a highly sought-after destination for businesses looking to upgrade their facilities,” said a representative from Onyx Equities. “The combination of modern amenities, scenic grounds, and unmatched accessibility continues to draw top-tier tenants.”
The Porzio lease brings the total influx of new tenants to The Arbors to 89,000 square feet, further cementing the property’s reputation as a preferred location for companies in Parsippany. Cushman & Wakefield Executive Director Josh Cohen represented Porzio, while JLL represented Onyx Equities in the deal.
This latest lease highlights Parsippany’s growing stature as a commercial hub in northern New Jersey. It combines prime real estate opportunities with the town’s strategic location and excellent infrastructure.
