The four properties are part of a multigenerational family estate.

The professional services firm plans to relocate its Parsippany operations.

The company joined forces with the founding members of real estate investment firm 3P Equity Capital Inc. to form PRC Capital Markets.

Patrick Jeffery was also added to the company's board of directors.

The firm will occupy part of the second and the entire third floor of the 75,049 square-foot office building.

“This is a planned transition to our leadership team,” the business's founder Richard Maser said. “I’m not reducing my commitment to the company and will continue seeking opportunities that will strengthen and provide long term stability while driving the company toward success.”

“We’re excited to complete our second acquisition in New Jersey and look forward to the opportunity to maintain the historically strong performance of this shopping center,” KPR Managing Director of Acquisitions Eric Wolf said. “The Mid-Atlantic continues to be a focal point of our portfolio, and this acquisition deepens our ties to the region.”

1025 Laurel Oak Road has sat vacant since the water utility moved to Camden.

Treetop Development said it plans to redevelop the site to create an approximately 200,000-square-foot cross dock facility.

“This is a mess in five different ways, including that it deprives every ... municipality of home rule over its property rights," said Jersey City Property Owners Association Executive Director Ron Simoncini.

1945 Route 70 E. is situated along the “Health Care Corridor” in the city's Central Business District.