Cushman & Wakefield secured four leases — two new agreements and two renewals — totaling 46,342 square feet at The Grand in Parsippany.
The real estate services firm announced the transactions for the office building campus located at 300 Interpace Parkway and One Upper Pond Road on May 9, with William O’Keefe, Charles Parmelli, Bill Brown and Joseph Ratner representing the landlord, Clifton-based P3 Properties.
“Despite the pandemic, the New Jersey office market has experienced a modest rebound in the first quarter of 2022, as is evident from these new leases. Tenants are focused on best-in-class properties with high-quality amenities for their return to office,” O’Keefe said in a statement.
That recovery is evident: The same day The Grand’s latest transactions were made public, Colliers also announced securing four office-space tenants for a building in East Hanover.
At The Grand, Cushman & Wakefield arranged deals with:
- Medical device manufacturer Extremity Medical, which will occupy 23,753 square feet on the second floor;
- NorthPointe Bank, which will occupy 7,157 square feet on the third floor;
- Provenir Inc., a software developer for financial institutions that renewed its 10,951-square-foot lease on the fourth floor; and
- Financial planning firm Deerfield Management Co., which renewed its lease to occupy 4,481 square feet on the third floor.
“P3 Properties has done an outstanding job providing their tenants with top tier amenities by implementing capital improvements to the building including a new tenant lounge and game room as well as an outdoor dining terrace and waterside deck,” O’Keefe added.
According to Cushman & Wakefield, the improvements at The Grand are ongoing; the new tenant lounge — “GRAND Central” — is set to offer gaming areas, a café, shared conference and training rooms, and other collaborative meeting spaces. Already boosting The Grand’s appeal are a fitness center, and two-tiered pond with a pergola and seating. The office building is conveniently located near Interstates 287 and 80.
Cushman & Wakefield was appointed exclusive leasing agent for The Grand, formerly Morris Corporate Center 1 and 2, in 2020.