CBRE arranges $9M sale of office property in Parsippany

By Emily Bader
New Jersey | Jun 8, 2020 at 10:08 am

Commercial real estate firm CBRE announced on Monday the $9 million sale of an office property in Parsippany to MSM Equities.

The 75,049-square-foot three-story property at 10 Lanidex Plaza West is located just off Parsippany Road on Interstate 80.

CBRE’s Tri-State Investment Properties team of Charles Berger, Elli Klapper and Mark Silverman, as well as A&T Services’ Thomas Mallaney, represented the seller, Lincoln Property Co., in the deal.

“During these historic, unprecedented economic times, there was tremendous collaboration among ownership, the buyer and all the sales professionals involved to ensure a timely and efficient closing,” Berger, senior vice president, CBRE, said. “In addition, MSM Equities exhibited tremendous fortitude and attention to detail in acquiring a multi-tenant property with a stable, long-term tenant base and with the opportunity to add value as the remaining space is leased.”

The property features a three-story atrium with a waterfall, new landscaping and onsite parking.

Emily Bader | ebader@roi-nj.com | @emilybader