JLL said July 20 it completed a 36,470-square-foot, long-term lease extension for Summit Financial’s headquarters at 4 Campus Drive in Parsippany.
Executive Vice President Christopher Conklin and Associate Chris Masi represented Summit Financial, while Cushman & Wakefield represented property owner Onyx Equities LLC in the transaction.
Located at 4 Campus Drive, the asset is a 147,475-square-foot, Class-A building at The Arbors business campus.
The office/retail park is home to major corporations and high-end retail such as Wegman’s, Capital Grille, Seasons 52 and Ruth’s Chris Steakhouse. The campus is at the crossroads of major highways including Routes 10, 287, 24 and 80, near downtown Morristown and Morristown Airport and is approximately five minutes from the Morris Plains train station, accessible via campus shuttle service.
The new owner of The Arbors, Onyx Equities is further enhancing the campus with a major capital improvement program for 2021. New initiatives include renovation of building entranceways, lobbies, cafeteria, conference room, hallways and the courtyard connecting 4 and 6 Campus. Ownership has also recently installed new rooftop HVAC units with UV light air filtration.
“4 Campus Drive was always a great location for the clients and employees of Summit Financial. The fact that Onyx committed to bring these buildings up to a modern Class A standard further appealed to our client,” said Conklin. “The property offers a powerful mix of amenities, best in class retail and accessibility that made it the ideal solution for Summit’s long-term needs.”