Transwestern Relocates, Expands NJ Office
- Oct 10, 2018
Transwestern signed a 7,211-square-foot lease with Lone Star Funds to relocate its New Jersey offices to a 370,000-square-foot, two-building office campus in Florham Park, N.J. The firm moved to the largest building’s first floor at 180 Park Ave. from 300 Kimball Drive in Parsippany, N.J., where it had occupied approximately 6,000 square feet since 2011.
Located on 27 acres, the asset was completed in 2001 and encompasses 221,706 square feet and a 3,000-square-foot retail component across four stories. Amenities include a fitness center, conference center, on-site café and lounge area. Additionally, the LEED Gold-certified building is undergoing a capital improvement program.
Poised for future growth
The property is adjacent to the 286-acre The Green at Florham Park master-planned campus. Plans call for additional office space, a residential community and an ARCHER hotel in the area. The New York Jets’ headquarters, BASF’s North American Headquarters, the AVE Florham Park community and Summit Medical Group are all in the asset’s immediate vicinity.
Nearby amenities include parks and golf courses, coffee shops and accommodation options. Downtown Morristown, N.J., is a nine-minute drive away, while routes 24 and 10 and interstates 287, 78 and 80 provide easy access throughout the area.
According to Yardi Matrix, Transwestern Partner & City Leader Jim Postell, Managing Director Matt McDonough and Vice President Dan Ligorner have been handling the leasing services for the property since 2018. The company is also in charge of property management. In a similar deal, Konica Minolta relocated and consolidated its U.S. operations in a nearby location.
“As we continue to expand our presence in New Jersey, we saw this as the perfect time to establish long-term roots in Florham Park, which has become one of the state’s most coveted regional hubs for top-quality, amenity-rich office space,” Postell said in a prepared statement.
Image courtesy of Transwestern