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Cushman & Wakefield Arranges 50,000 SF Office Leases In Parsippany, NJ

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LEASED

New Jersey

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Office150,000 SF
Leased 02/26/2024
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LEASED

Cushman & Wakefield Arranges 50,000 SF Office Leases In Parsippany, NJ

99 Cherry Hill Road, 119 Cherry Hill Road & 119 Cherry Hill Road

See Similar Deals
Office150,000 SF
Leased 02/26/2024
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:150,000 SF
Transaction Type:Lease

The office property located at 99 & 119 Cherry Hill Road in Parsippany, NJ, spanning 50,000 square feet, was recently leased out. The property is managed by The Birch Group and offers amenities like a pond, ample parking, and plug-and-play suite availability, with enhancements planned through a capital improvement program overseen by property manager AMI Management.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 99 & 119 Cherry Hill Road, Parsippany, NJ
  • Market: Parsippany
  • Landlord: Mark Meisner - The Birch Group
  • Tenants: Business Credentialing Services, Westguard Insurance Group, H2M, Monte Nido, Royal Coachman, American Day CD Centers, Newbridge Services
  • Brokers: Courtney Rosenkrantz & William O’Keefe - Cushman & Wakefield

Cushman & Wakefield facilitated seven leases totaling over 50,000 square feet at the property on behalf of landlord The Birch Group. The transactions were led by brokers William O’Keefe and Courtney Rosenkrantz. The Birch Group's investment in enhancing the property reflects a commitment to providing a high-quality working environment for the tenants, further establishing its presence in the Parsippany market.

Players

William 'Bill' O’Keefe
5 deals(973) 908-6101
BROKER

Details

LEASED
IMAGE: Mark Meisner, Courtney Rosenkrantz & William O’Keefe DATE: 02/26/2024 ADDRESS: 99 & 119 Cherry Hill Road MARKET: Parsippany ASSET TYPE: Office ~ SF: 50,000 LANDLORD: Mark Meisner (@Mark.Meisner) - The Birch Group (@TheBirchGroupny) TENANT: Business Credentialing Services; Westguard Insurance Group; H2M; Monte Nido; Royal Coachman; American Day CD Centers; Newbridge Services BROKERS: Courtney Rosenkrantz (@Ccourtneyy_) & William O’Keefe - Cushman & Wakefield (@CushWake) NOTE: Cushman & Wakefield arranged seven leases totaling over 50,000 square feet at 99 & 119 Cherry Hill Road in Parsippany, NJ, on behalf of landlord The Birch Group, with William O’Keefe and Courtney Rosenkrantz leading the transactions. The Birch Group is enhancing the property with a capital improvement program overseen by new property manager AMI Management, offering amenities such as a pond, on-site management, ample parking, and plug-and-play suite availability.

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Deal Type
Effective Rent (Annual)

$8,597,909.48

Total Lease Value

$85,979,094.84

Net Landlord Cash Flow$8,597,909.48