PARSIPPANY — Investment adviser Summit Financial is deepening its roots in Parsippany with a newly signed long-term lease extension and expansion at 4 Campus Drive, part of the modernized office park known as The Arbors.
The firm, a longtime tenant at the property, will now occupy 42,000 square feet at the 147,475-square-foot building — representing a 15 percent expansion. The deal underscores continued leasing momentum along the Campus Drive corridor and within Parsippany’s competitive office market.
The tenant was represented by Cresa brokers Dan Foley and Chris Masi. The lease extension comes nearly five years after Summit Financial last renewed at the property, during which time ownership completed significant capital improvements to the three-story building.
Landlord Onyx Equities was represented internally by John O’Hearn alongside brokerage support from Cushman & Wakefield’s Patrick Dean, David DeMatteis and Mark Zaziski.
Continued Investment in The Arbors
4 Campus Drive is part of a five-building, 750,000-square-foot portfolio that Onyx has repositioned in recent years. The firm invested approximately $15 million to upgrade the campus, creating new amenity-rich environments designed to attract and retain tenants.
Enhancements include:
- A 5,200-square-foot fitness center
- Three cafés
- Modernized conference facilities
- Upgraded lobbies and entranceways
- Outdoor dining and recreational areas
- A redesigned courtyard connecting 4 and 6 Campus Drive
Recent leasing activity at the building also includes a new 24,947-square-foot commitment by Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno PC, which relocated from its longtime home in Denville.
Strategic Location
Located just off Route 202 and north of Route 10, the Campus Drive corridor continues to benefit from highway accessibility, proximity to restaurants and retail, and the amenity-driven upgrades that have helped reposition the portfolio.
Summit Financial’s expansion further reinforces Parsippany’s ongoing appeal to professional services firms seeking upgraded suburban office space with modern amenities.
