PARSIPPANY, N.J., May 8, 2018 - Cushman & Wakefield has been appointed to market 11 Waterview Boulevard in Parsippany as a headquarters opportunity for sale or lease. The 120,000-square-foot office asset sits immediately off Route 46, at the intersection of Interstates 287 and 80, and represents the largest, Class A user-purchase opportunity in the immediate market.
"This is an outstanding offering for a company that wants to own its headquarters space and, therefore, control its real estate destiny," noted Cushman & Wakefield's Jeffrey Prezant, who is heading the assignment with James Frank and Dan Johnsen, based in the commercial real estate services firm's East Rutherford, N.J., office. "And because the building is newly improved from top to bottom, it requires no immediate capital infusion. It is gorgeous space, in move-in condition."
The three-story building features a stately pre-cast concrete façade and a full-height ceremonial staircase connecting its three stories. Each floor is finished with perimeter offices, an open-format collaborative core with work pods, and a bistro-style kitchenette with high-top tables and lounge seating. Building amenities include a full-service, 200-seat cafeteria, fitness center with lockers and showers, and multiple conference rooms. Its future occupant will also benefit from Category 6 wiring, multiple fiber carriers and an IT room with dedicated cooling.
According to Frank, 11 Waterview Boulevard's visibility and location also makes it a strong branding play. "The property sits high on the north side of Route 46 and I-287, enabling prominent building signage," he said. "The entire site projects a corporate headquarters-quality image. And the surrounding neighborhood creates a truly walkable environment that lends work/play balance, with nearby dining, shopping and recreation."
11 Waterview Boulevard is coming available this summer. Office, conference room and cafeteria furnishings are available for its future buyer or tenant.
11 Waterview Boulevard marks the third assignment Cushman & Wakefield has spearheaded for the current ownership - a private, family-owned real estate investment firm. The team recently closed on the disposition of a 14-acre land site on Route 23 in Wayne, which CarMax purchased.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.