C&W to market 120K sq.ft. Parsippany office property

The owners of a 120,00-square-foot office building in Parsippany have chosen Cushman & Wakefield to market the property for sale or lease, the real estate services firm announced.

C&W said the three-story, headquarters-type property at 11 Waterview Blvd. represents the largest Class A user-purchase opportunity in the immediate market. The building sits off Route 46 near the intersection of Interstate 287 and I-80.

“This is an outstanding offering for a company that wants to own its headquarters space and, therefore, control its real estate destiny,” Jeffrey Prezant of C&W’s East Rutherford office said in a prepared statement. “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.”

Prezant is heading the assignment, along with colleagues James Frank and Dan Johnsen.

“The property sits high on the north side of Route 46 and I-287, enabling prominent building signage,” Frank said in a statement. “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.”

The property will be available this summer, C&W said. It is the third assignment the firm has led for the undisclosed private, family-owned real estate investment firm.