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9 Entin Road

Provident Bank Leases 23000 Square Feet Office Space At 9 Entin Road In Parsippany
LEASEDOffice

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:

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

Jamie Drummond

Newmark

Broker

$88M

vol

7 deals

Broker
AP
American Equity PartnersLandlord

Parsippany Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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