Four-building office complex in Parsippany sells for $10.5M

A Parsippany office complex has sold for $10.5 million, according to real estate firm the Kislak Co. Inc.

Troy Office Center, located at 1259-1269 U.S. Highway 46, includes four buildings totaling about 126,000 square feet. The property was sold by an undisclosed private investor to Shree Parsippany Developers LLC, Kislak said in a news release.

Tom Scatuorchio, vice president, handled the exclusive assignment on behalf of the seller, and procured the buyer.

“This was an extremely complex property to sell and finance, given the current state of the office market,” he said in a prepared statement. “The transaction began in the early months of the COVID-19 crisis, in May 2020, and took a tremendous amount of effort from all parties involved to close nearly a year later.”