JLL Capital Markets said Monday it closed the sale of Morris Corporate Center 1 and 2 (MCC), a two-building, Class A office complex totaling 550,000 square feet in Parsippany.

JLL represented the seller, an affiliate of Brookwood Financial Partners LLC, and procured the buyer, P3 Properties.The properties are located at 300 Interpace Parkway and 1 Upper Pond Road within the larger Morris Corporate Center master-planned development in the Parsippany submarket of New Jersey.

The 31-acre site is less than a mile from Interstate 80 and in close proximity to Route 46. It features four full-height atrium lobbies, two full-service cafes, a 5,000-square-foot fitness center with locker rooms and a yoga studio, two conference areas including an executive boardroom, covered and surface parking, and a central pond with trellis seating areas and walking path.

The four-story properties are currently 67 percent leased to a variety of tenants including Zurich Insurance, York Risk Services, Ipsos, ICAP and Wallenius Wilhelmsen.

“Great things are happening at Morris Corporate Center – MCC IV has been rebranded (now known as Latitude) and is currently being upgraded, which has already shown results in the recent signing of Sax LLP to a new lease, MCC III (now known as MCC Blue) is fully occupied, including Teva’s new headquarters lease, and now Morris Corporate Center 1 & 2 is slated for a significant rebranding and upgrade, which will reposition it to better compete within the submarket,” JLL Senior Managing Director Kevin O’Hearn said.

The JLL Capital Markets team representing the seller included Senior Managing Directors Jose Cruz and Kevin O’Hearn, Director Mark Mahasky, Senior Directors Michael Oliver and Steve Simonelli and Associate Nick Stefans.