A long-term investor acquired a 29,500-square-foot office building in Parsippany for $5 million in a deal brokered by Newmark Associates CRE.
Newmark Associates has finalized the $5 million sale of 629 Parsippany Road, a fully leased office asset situated in a key business corridor of Parsippany. The property was acquired by an unnamed purchaser seeking a long-term investment, supported by a stable income stream from an established law firm currently occupying the entire building.
Nancy Stanton Tuckman of Newmark Associates represented the transaction, highlighting the deal as evidence of ongoing demand for income-producing suburban office assets. The building’s prime location offers strategic access to Northern New Jersey’s primary transportation routes and corporate infrastructure.
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