Onyx Equities selects JLL to market and lease five Class-A buildings in its nine-property office complex
JLL has been selected to exclusively market five buildings-- 1, 3, 5 and 7 Sylvan Way, and 8 Campus Drive-- within Onyx Equities’ newly-purchased nine-building office complex in Parsippany, New Jersey.
JLL will lease a total of 810,429 square feet at The Arbors @ Parsippany, previously known as Mack-Cali Business Campus. The firm will lead marketing and leasing for the 150,557-square-foot 1 Sylvan Way, the 147,241-square-foot 3 Sylvan Way, the 151,383-square-foot 5 Sylvan Way, the 145,983-square-foot 7 Sylvan Way and the 215,265-square-foot 8 Campus Drive. Availabilities range from 3,500 square feet up to 100,000 square feet of contiguous space. The buildings were all recently renovated, including new fitness centers, a golf simulator, game room, conference centers, training rooms and cafeterias. The campus features best in class outdoor space which Onyx plans to renovate and upgrade to enhance the tenant experience.
The JLL team recently closed a 41,269-square-foot, long-term lease with the Blue Foundry Bank for a portion of the second floor of 7 Sylvan Way at The Arbors complex. Blue Foundry Bank is relocating from 25 Orient Way in Rutherford, NJ. JLL also completed a lease with VentureX, a co-working firm, for 15,438 square feet at 8 Campus Drive.
The Arbors @ Parsippany is located on 600 acres in Parsippany, N.J. and includes 12 Class-A office buildings totaling approximately 2.1 million square feet. The campus includes a 134,000-square-foot Wegman’s, which opened this past year, along with Panera, Seasons 52 and The Capital Grille both under construction, expected to open 1Q2021, as well as extensive walking and biking trails. The Arbors has prime accessibility sitting at the crossroads of major roadways including Interstate 80, 280, 287, U.S. Routes 46 and 202, and New Jersey Routes 10 and 53. The complex is also 5 minutes from Morris Plains Station, which provides direct service to NY Penn Station, accessible via on-campus shuttle service. There is also on-site bus service to Newark and Manhattan via NJ Transit and Lakeland Bus Lines.
The JLL project team includes executive managing director Tim Greiner; managing director David Stifelman, senior vice president Chris Conklin and brokerage coordinator Maria Casaliggi.
“We are excited to work with Onyx Equities on The Arbors @ Parsippany, a dynamic, accessible office destination with a diverse tenancy and extraordinary on-site amenities” said Stifelman. “The unique campus and convenient location offer companies an employee-focused environment that is critical in the current environment.”
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,260 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets debt and equity services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from five full-service offices in Parsippany, Iselin (Metropark), Princeton, Morristown and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. NJBiz ranked JLL’s New Jersey operations as the No. 1 commercial real estate brokerage in the Garden State in 2020.
