PARSIPPANY — As New Jersey continues to experience a surge in film and television production, Parsippany-Troy Hills is emerging as a prime candidate to benefit from the state’s expanding entertainment industry through participation in the New Jersey Motion Picture and Television Commission’s Film Ready Program.

The Film Ready initiative is designed to prepare municipalities to effectively attract and support film and television productions. By becoming Film Ready certified, communities like Parsippany signal to producers that they are organized, welcoming, and capable of accommodating the unique needs of the industry.

The economic potential is substantial.

According to the New Jersey Motion Picture and Television Commission, Steven Spielberg’s latest film, Disclosure Day, generated an estimated $34 million in qualified production spending during just 23 days of filming in New Jersey while employing more than 1,800 crew members. The production filmed in 10 municipalities across six counties, including several locations in Morris County. Statewide, New Jersey recorded an estimated $834 million in film production spending in 2024, with 556 productions hiring more than 31,000 crew members.

Film productions bring direct economic activity into a community. Crews require hotel accommodations, dining, transportation, equipment rentals, and a variety of local services. With Parsippany’s strong hospitality sector, major hotel corridors, corporate campuses, and convenient access to interstate highways, the township is ideally positioned to capture this spending. Local businesses—from restaurants and caterers to dry cleaners and transportation providers—stand to benefit when productions are in town.

Participation in the Film Ready Program also opens the door for local residents to access employment opportunities, both directly on productions and through supporting industries. From set construction and security to catering and logistics, film projects create a wide range of temporary and repeat job opportunities.

“Parsippany is uniquely positioned to take full advantage of New Jersey’s growing film industry,” said Mayor Pulkit Desai. “Our central location, diverse landscapes, and business-friendly environment make us an ideal destination for film and television production. By embracing the Film Ready Program, we are opening the door to new economic opportunities, increased visibility, and meaningful partnerships that will benefit our residents and local businesses.”

Parsippany offers a diverse landscape of corporate campuses, suburban neighborhoods, historic sites, parks, lakes, and roadways that can double for a variety of filming locations. When featured in film or television, these locations can elevate the township’s profile, attracting visitors and future investment. Municipalities across the state have seen increased tourism and recognition after appearing in major productions.

“Becoming Film Ready is about more than just attracting film crews. It’s about positioning Parsippany as a forward-thinking community that welcomes innovation and opportunity,” said Frank Cahill, Chairman of the Parsippany-Troy Hills Economic Development Committee. “The ripple effect on our local economy—from hotels and restaurants to small businesses—can be significant. We are currently in the application process to bring this program to Parsippany. This initiative will create growth, visibility, and new opportunities right here in our community.”

New Jersey has made significant investments in becoming a national hub for film production, including major studio developments such as Netflix’s planned facility at Fort Monmouth and Lionsgate’s studio in Newark. As production activity continues to increase statewide, Film Ready communities are positioned to capture growing demand for filming locations and support services.

Film projects often generate excitement among residents, offering opportunities to see productions firsthand and even participate as extras. This fosters community pride while connecting residents to one of New Jersey’s fastest-growing industries.

Parsippany’s leadership, including its Economic Development Committee, has consistently focused on initiatives that drive business growth and visibility. Becoming Film Ready aligns with that mission, reinforcing the township’s reputation as a business-friendly, forward-thinking community.

As New Jersey’s film industry continues to expand, Parsippany is well-positioned to leverage its strategic location, infrastructure, and community support to become a destination for production companies seeking their next set.

With the right preparation and partnerships, the cameras may soon be rolling right here in Parsippany.

For additional information contact Frank Cahill, Chairman of Parsippany-Troy Hills Economic Development, at (973) 559-6000.

PARSIPPANY — Valley Bank, located in Arlington Plaza, celebrated its 50th anniversary of serving the community, showcasing how the bank makes a difference through exceptional service and lasting relationships. Valley Bank has two locations in Parsippany serving the community.

The celebration featured a ribbon-cutting ceremony led by CEO Ira Robbins, Parsippany-Troy Hills Mayor Pulkit Desai, Parsippany-Troy Hills Economic Development Chairman Frank Cahill, Ildiko Peluso, Elizabeth Haywood, the Valley Bank team, customers, community members and Chamber representatives, commemorating five decades of service in Parsippany.

Representing the Parsippany Area Chamber of Commerce were President Robert Peluso and board members.

Food was catered by Parsippany’s Best Pizza and Gourmet Cafe Italian Restaurant.

With more than 85 guests in attendance, the event brought together Valley Bank leaders, including Ira Robbins, Mark Beausoleil, Paul Roberts, Ildiko Peluso and the Parsippany team, along with local officials. Mayor Pulkit Desai, Councilman Paul Carifi Jr., Parsippany-Troy Hills Economic Development Chairman Frank Cahill and committee members presented Valley Bank with a commemorative plaque honoring its 50 years of service to the township.

Entertainment was provided by Parsippany High School student PJ Patrick Cameron on saxophone, while fellow student volunteer Daniel Montez captured the evening through photography.

The evening celebrated 50 years of Valley Bank serving the Parsippany community and looked ahead to many more years of building relationships. As Valley Bank approaches its 100th anniversary, having been established in 1927, the celebration honored both its rich history and its continued commitment to the communities it serves.

“Congratulations Valley Bank on the occasion of your 50th anniversary,” said Frank Cahill, Chairman of the Parsippany-Troy Hills Economic Development Committee. “For fifty years, Valley Bank has been a trusted financial partner, supporting businesses, families, and community organizations while helping shape the success and growth of Parsippany and the surrounding region.”

“Valley Bank has been an important part of the Parsippany community for five decades, supporting local businesses, residents, and organizations through every stage of growth,” said Mayor Pulkit Desai. “We are proud to celebrate this milestone and thank Valley Bank for its continued investment in our township and its commitment to building strong relationships that help our community thrive.”

PARSIPPANY — The Parsippany-Troy Hills Township Council is set to vote Tuesday on Resolution R2026-145, which would rescind Resolution R2025-200 and revoke the township’s support for Fresh Dispensary Parsippany, LLC’s application to the New Jersey Cannabis Regulatory Commission for a Class 5 recreational dispensary license.

The Council originally endorsed Fresh Dispensary’s application in November 2025, when it unanimously approved the company’s bid to open at 3159 Route 46 East, a location shared with A2B Indian Veg Restaurant, Fuddruckers and Days Inn. The endorsement followed a review by the township’s Cannabis Advisory Committee.

The agenda item does not specify the township’s reasoning for the reversal. The action follows a similar move in February, when the Council rescinded its support for Cypher Dispensary, LLC’s application for a Route 46 location after determining the site did not meet the township’s 100-foot residential setback requirement under Section 430-88(F)(11) of the Township Code.

The resolution is listed on the Council’s consent agenda for its June 23 regular meeting. Parsippany Focus will provide an update following the meeting.

PARSIPPANY — A joint venture is preparing to break ground on more than 281,000 square feet of new industrial space in Parsippany, in a project that will redevelop a former office property at 169 Lackawanna Avenue.

Greek Real Estate Partners said it is preparing for vertical construction at the site as part of a newly formed partnership with The Hampshire Cos. and third-party capital advised by Principal Asset Management. The move follows a $49 million recapitalization announced last week, along with a $30 million construction loan from Provident Bank.

The 281,215-square-foot warehouse will mark a new chapter for a site with a varied history, having served nearly a century ago as a candy and chocolate plant before becoming a data center for New York Life and, most recently, operating as a multitenant office building.

“We are excited to continue growing our presence in the Parsippany market and to redevelop this property alongside outstanding new partners,” said Alex Motiuk, director of acquisitions for Greek Real Estate Partners. “Few sites tell a story like 169 Lackawanna Ave. We are proud to carry it into its next chapter as a modern, highly functional industrial facility built for the users driving demand across the region.”

GREP acquired the then-occupied office building in 2023 and guided it through redevelopment and re-entitlement. The firm’s Greek Design|Build affiliate, serving as general contractor, has completed demolition and site clearing, putting the project on track for substantial completion in the first quarter of 2027.

Plans call for 40-foot clear heights, a 2,500-square-foot speculative office, 39 loading docks, two drive-in ramps and 3,000-amp, three-phase, 480/277-volt electrical service, along with parking for 144 cars and 30 trailers. The features are intended to support a range of industrial users, including those focused on regional distribution, last-mile delivery and supply chain operations, amid limited availability of modern Class A industrial space in that size range.

“We are pleased to partner with Greek Real Estate Partners and Principal Asset Management on the redevelopment of 169 Lackawanna Avenue, a project that reflects our continued conviction in northern New Jersey’s industrial market,” said Christopher Jon Imperatore of The Hampshire Cos. “It is especially exciting to collaborate with Greek, as both Greek and the Hanson families have been doing business in New Jersey for over 100 years.”

Imperatore added that with new supply constrained and demand for modern logistics space remaining strong, the partners believe the project is well-positioned to deliver a high-quality facility and long-term value in a tightening market.

Ryan Greer, vice president of commercial lending at Provident Bank, said the bank is pleased to support an experienced ownership and development group as it advances a market-leading Class A project.

Cushman & Wakefield’s John Alascio, TJ Sullivan, Chuck Kohaut and Nick Scibelli sourced the joint venture equity and debt for the transaction. KBC Advisors’ Marc Petrella, Andrew Siemsen and Sean Kelly are leading the leasing team for the property, which sits minutes from interstates 80 and 287 and routes 46 and 10.

The site is within a one-hour drive of more than 11 million consumers and benefits from proximity to Newark Liberty International Airport and the Port of New York and New Jersey, positioning it to serve last-mile, regional and national distribution users across northern New Jersey, New York City and the broader Northeast.

“We are proud to have arranged the full stack of financing for this exciting project on behalf of the outstanding Greek Real Estate Partners organization,” said Alascio, executive vice chair at Cushman. “169 Lackawanna Ave. will offer state-of-the-art industrial space in an infill, labor-dense northern New Jersey submarket.”

PARSIPPANY — The residual effects of COVID-19 are still negatively affecting the commercial market. During the three-year period from March 2020 to May 2023 most employees were forced to work from home. The pandemic forced business meetings to be held virtually through multiple online platforms. In the years leading up to COVID-19, many real estate professionals and appraisers predicted a virtual workforce, but COVID-19 seemed to make it occur overnight. Due to this, many office buildings remained unoccupied, and some have already been demolished for apartments and warehouse buildings.

Prior to COVID-19, Parsippany-Troy Hills Township had a very active 12,000,000 square feet of office space, second only to the City of Newark, with many companies having their corporate headquarters located in Parsippany. During the last two years, 20 office buildings containing over 3,000,000 square feet of office space were scheduled or already have been demolished. One of these buildings, 8 Wood Hollow Road, was recently converted into a 101-room boutique hotel – Troy Hotel. In addition, over 2,000 new luxury apartments including PARQ, The Lexica, The Lawrence, District 1515, Ballentine Greens and Avalon Bay have either been completed or are under construction on vacant sites where office buildings once stood. There are seven warehouse buildings containing over 1,100,000 square feet, that are also planned or nearing completion on sites previously used as office space. There is even a Topgolf under construction which is scheduled to open July 2026, on Route 46 East where three office buildings once stood. In addition, over the last 12 months the Township Council approved numerous properties to be “In Need of Redevelopment”, eight of which were buildings containing over 600,000 square feet of office space.

This reduction in office space has also had a direct effect on the hotel market. With most meetings now being held virtually, in-person meetings have been reduced significantly, therefore there is less reason for business travelers to rent hotel rooms. Hotel occupancy rates have seen an increase since 2020 but they are still lower than pre-COVID-19 occupancy rates.

During the past year many companies have been requiring their employees to Return-To-Work (RTW). Some private companies are also beginning a hybrid schedule, with employees working 3 to 4 days in the office and one or two days from home. As of today, most New Jersey State office employees are required to work three days in the office and two from home. Companies like AT&T, Goldman Sachs, JP Morgan, Tesla, Amazon, Home Depot, PNC Bank and others are going a step further requiring their employees to return to the office for the full five-day work week. Company executives feel that a return-to-work policy will help boost employee productivity, while also allowing longer term employees the chance to mentor new employees. This new work schedule will eventually have a positive effect on the office market.

During COVID-19 (March 2020 to May 2023) the retail market was also hit hard since most of the retail shopping was done online. Many regional malls have already been forced to close and many more are having problems. This has led to the rise in the warehouse market, which explains why so many new warehouse buildings are being built. Major retail companies use local warehouses to store popular inventory closer to consumers. This is where the term “Last mile Delivery” came from. Some warehouses are being branded as Modern Logistic Facilities. They begin as National warehousing, then Regional warehousing and finally Urban warehousing which are located near consumers for the final delivery point. Many retailers are now guaranteeing overnight delivery, so it is very important that they have storage facilities in close proximity to consumers. New planned or under construction warehouse buildings, located in Parsippany, having a total square footage of over 1,114,000 are listed below on sites where over 1,101,000 square feet of vacant office buildings once stood.

2 Hilton Court was a 172,000 square foot office building constructed in 1990 and was occupied by Diachii Sanko pharmaceutical company. It has been demolished, and a new 122,664 square foot warehouse building is completed, now occupied by US Auto Force.

7 Campus Drive was a 154,395 square foot office building constructed in 1982 and was occupied by Nabisco Brands in the 1990’s. It has now been demolished for a new 128,150 square foot warehouse building.

9 Sylvan Way was a 60,111 square foot office building constructed in 1983. It has been demolished for a new 67,219 square foot warehouse building.

3 Century Drive was a 71,941 square foot office building constructed in 1981. It has been demolished for a new 64,800 square foot warehouse building.

8 Lanidex Plaza was a 56,230 square foot office building constructed in 1980 and was previously occupied by Silox. It has been demolished for a new 140,031 square foot warehouse building.

169 Lackawanna Avenue was a 256,750 square foot office building constructed in 2001 and was originally occupied by New York Life Insurance. It has been demolished for a new 281,198 square foot warehouse building.

5 Wood Hollow Road is a 329,940 square foot office building constructed in 1980 that was granted approval to demolish the building and build a new 310,168 square foot warehouse building.

In Parsippany-Troy Hills Township there have been a few bright spots in the office market with companies leaving older office buildings and moving into office buildings that offer employee amenities such as fitness centers, cafes etc. This trend is known as renovation driven leasing. These moves have accounted for the recent leasing of over 330,000 square feet of office space.

Some examples of these are:

8 Sylvan Way – B & G Foods leased 31,000 square feet and Day Pitney leased 56,000 square feet

3 Sylvan Way – Acrisure Insurance leased 42,800 square feet

5 Sylvan Way – Porzio, Bromberg, & Newman leased 39,600 square feet.

4 Campus Drive – Einhorn, Barbarito, Frost & Botwinik leased 26,700 square feet and Summit Financial expanded their office area to a total occupancy of 42,000 square feet.

1 Sylvan Way – PBF Holding Company expanded their lease to include a total of 69,200 square feet

9 Entin Road – Provident Bank leased 23,000 square feet.

Other highlights include:

1269 Route 46 – a new 67,000 square feet Topgolf facility is scheduled to open in July of this year.

8 Wood Hollow Road – was once a 50,700 square-foot office building and it has now been converted into a 101-room boutique hotel to be branded as Troy Hotel by Wyndham.

6A Sylvan Way – was once a 215,535 square foot office building occupied by Avis/Budget. The site received approvals to demolish the office building and construct a 100,000 square foot Lifetime Athletic Club; which is currently under construction and is scheduled to open in the second quarter of 2027.

4 Gatehall Drive is a 247,579 square foot office building constructed in 1989. On June 1, 2026, Toll Brothers was granted approvals to demolish the existing four-story office building and build 178 stacked and non-stacked luxury townhomes for sale (142 Market units and 36 Affordable housing units).

It is my professional opinion that after taking into consideration all the repositioning of existing vacant office buildings into apartment and warehouse buildings and all the future Township approved repositioning of existing vacant office buildings, I feel that the stabilized office vacancy rate for Parsippany-Troy Hills Township is 12.5%.

Within the 25 square mile area of the Township, major highways intersect throughout the Township including Interstate 80, Interstate 287, Route 46, Route 10, Route 202 and Route 53. The Township offers easy access to major highways for companies looking to move to Parsippany-Troy Hills which has resulted in recent commercial growth.

Daniel S. Cassese is tax assessor of Parsippany-Troy Hills Township, is a professional, with over 47 years of experience in the field of tax assessment and real estate appraisal.

PARSIPPANY — Topgolf will open its newest New Jersey location in Parsippany on July 3, bringing the sports and entertainment company’s latest venue design to Morris County just in time for the Fourth of July holiday weekend.

Located at 1269 Route 46 near the intersection of Interstate 80 and Interstate 287, the three-level facility will be Topgolf’s third New Jersey location, joining existing venues in Edison and Mount Laurel. The Parsippany site will also be the company’s 102nd venue nationwide.

The venue is expected to employ approximately 350 to 400 people and will serve as the first location to showcase Topgolf’s newest prototype design, featuring enhanced entertainment options and personalized technology.

“We’re thrilled to debut the latest Topgolf sports and entertainment concept to Parsippany, expanding our presence in New Jersey,” said David McKillips, Topgolf CEO. “As the ultimate sports and entertainment leader, Topgolf is a gateway to golf for many first-time players, and we’ve now expanded our entertainment offering and technology personalization to welcome guests and players of all ages and skills.”

Among the new features is “My Bay, My Way,” a personalized experience available through the Topgolf mobile app. Guests will be able to customize their visit by ordering food directly to their bay, selecting television channels and saving game highlights.

The Parsippany venue will feature 102 climate-controlled hitting bays spread across three levels, along with lounge-style seating, a full-service restaurant and bar, private event spaces, a rooftop terrace and outdoor social areas.

Additional attractions include 20 arcade games, reimagined outfield targets and slopes, and more than 250 television screens throughout the facility.

The location will also include 24 dedicated game-day suites, significantly more than the typical number offered at other Topgolf venues. Each suite is designed to provide an immersive sports-viewing experience with multiple large-screen displays.

To celebrate the opening, Topgolf is offering several promotions. Guests who book and complete a one- or two-bay reservation between July 3 and July 17 will automatically be entered for a chance to win one year of free game play at the Parsippany location. In addition, the first 100 guests to visit on opening day will receive a $50 Topgolf gift card courtesy of Honda and Acura.

Topgolf officials said the new venue is designed to appeal to golfers of all skill levels, from first-time players to experienced golfers. The company’s Toptracer technology tracks each shot’s flight, distance and accuracy in real time, creating a competitive and interactive experience.

Reservations and additional information are available through the Topgolf website at topgolf.com/parsippany and the Topgolf mobile app.