Provident Bank Leases 23000 Square Feet Office Space At 9 Entin Road In Parsippany
9 Entin Road
Building Size
23,000 SF
Asset Type
Office
Closing
Feb 26, 2026
AI
The asset involved in this transaction is an office space located at 9 Entin Road in Parsippany, consisting of 23,000 square feet. The lease transaction was arranged between the landlord, American Equity Partners, and the tenant, Provident Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 9 Entin Road
- Market: Parsippany
- Landlord: American Equity Partners
- Tenant: Provident Bank
- Landlord's Representative: Jamie Drummond, Andrew Perrotti & Luke Reid - Newmark
- Tenant's Representative: Jeffrey Babikian & Marc Trevisan - CBRE
The deal involved significant representation from brokers specializing in the market. The tenant was represented by Jeffrey Babikian and Marc Trevisan from CBRE, while the landlord was represented by Jamie Drummond, Andrew Perrotti, and Luke Reid from Newmark.
Players
Parsippany Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93