Parsippany, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the $2.8M sale of a Parsippany Boulevard Commons Office Center, a 22,798-square-foot office building at 1160 Parsippany Boulevard in Parsippany, N.J. NAI James E. Hanson’s Josh Levering, SIOR, represented the seller, Genelle ll, LLC, in the transaction with the buyer, The Mental Health Association of Essex and Morris County, who was represented by Colliers International’s Chris Hovanec.
Parsippany Boulevard Commons is a 45,972-square-foot twin-building office complex. 1160 Parsippany Boulevard is a two-story 22,798-square-foot office building with a modern design and first-class finishes that has recently undergone substantial renovations and upgrades to all common areas, flooring, lighting and bathrooms as well as the parking lot. In addition, Parsippany Boulevard Commons has exceptional and immediate access to many major New Jersey roadways including Interstates 80, 280 and 287 as well as Routes 10, 46 and 202.
As the exclusive brokerage firm of the property, NAI James E. Hanson implemented a marketing strategy to attract reputable customers to the property. The Mental Health Association of Essex and Morris County, a community-based organization focused on improving the care and treatment of individuals with mental illnesses throughout the region, will use the space as a new headquarters.
“While the office market has experienced challenges over the past few years, we continue to see good demand in the market for well-located and modern buildings,” said Levering. “It’s more important than ever for owners to continue to invest in their properties to ensure they can stand out in today’s market and attract interested parties like The Mental Health Association of Essex and Morris County.”