Newmark secures over 90K sq. ft. of Class A office leasing activity in Parsippany

More than 90,604 square feet of office leases have been secured by Newmark at its Class A office building, 9 Entin Road in Parsippany, according to a Wednesday announcement. The leasing momentum transpired over the last six months and includes 62,127 square feet of extensions and expansions with tenants Aetna Life Insurance Co./CVS Health and HNTB Corp., as well as Wireless Telecom Group’s new 28,477-square-foot lease.

Newmark Senior Managing Director Jamie Drummond and Associate Director Andrew Perrotti facilitated the transactions on behalf of ownership, the real estate investment and management company, American Equity Partners.

“With the implementation of ownership’s robust capital improvement program, we continue to witness leasing demand at 9 Entin Road,” Drummond said. “This latest momentum at the property illustrates how Class A properties are a top choice for office users.”

The property is a three-story, 200,000-square-foot office building located directly off Interstate 287 in the Parsippany Route 10 corridor. Ownership recently implemented and completed a multimillion-dollar capital improvement project at the property, delivering upgrades such as a state-of-the-art conference center, tenant lounge, food service, new modern lobbies and restrooms, a fitness center with locker room and shower facilities and updated landscaping. The remaining available at the property can accommodate users ranging from approximately 5,000 to 22,000 square feet.

Aetna Life Insurance/CVS Health, among the most recognized health services and insurance providers in the U.S., signed a long-term lease to occupy 19,785 square feet on the second floor. This transaction included relocating and expanding the tenant’s footprint at the building.

HNTB Corp., an American infrastructure design firm, signed a long-term renewal and expansion to occupy 42,342 square feet on the second floor of the building.

Wireless Telecom Group, a global designer and manufacturer of radio frequency and microwave-based products for wireless and advanced communications industries, signed a new, long-term lease to occupy 28,477 square feet on the building’s first floor.