Vision Real Estate acquires Morris County office building

Vision Real Estate Partners is continuing the expansion of its northern New Jersey office footprint with its recent acquisition of a Class A office building in Morris County, it announced Thursday.

The four-story, 226,317-square-foot property located at 20 Waterview Blvd. in Parsippany is located within the Waterview Corporate Center. The property is the largest of the office park’s building and is suitable for small and large tenants, with flexible floor plates that allow for suites from 10,000 to 100,000 square feet.

“20 Waterview Blvd. was particularly attractive to us and will undergo extensive redevelopment and rebranding as it combines future core-plus stability with a current value-add component on the leasing side,” said Vision Real Estate Partners’ Sam Morreale, founder and managing partner.

JLL served as the sales agent in the transaction. Colliers International is serving as the leasing agent.

“We are planning extensive renovation projects to transform 20 Waterview Boulevard into a fully-amenitized building, providing current and future tenants with an enhanced corporate environment,” Morreale said.

Renovations, he said, will include an updated lobby with collaborative space, exterior upgrades and creative amenity facilities.

The property is right next to the Waterview Marketplace, a Whole Foods-anchored retail center. It is within proximity to Routes 46 and 202, and Interstates 287 and 80.