Newmark Group Inc. said Jan. 12 that it has secured 58,000 square feet of office leases on behalf of ownership at its Class A office building, 9 Entin Road, in Parsippany.
Newmark Senior Managing Director Jamie Drummond, Associate Director Andrew Perrotti and Associate Luke Reid facilitated the transactions on behalf of ownership, the real estate investment and management company American Equity Partners. The building has now reached over 90% occupancy with these recent commitments.
“With ownership’s commitment to investing in the property, 9 Entin Road has been elevated into a true Class A environment that resonates with today’s office users,” said Drummond. “Surpassing 90% occupancy underscores both the strength of the asset and the market’s response to a building that delivers quality, amenities and long-term value.”
Provident Bank signed a new long-term lease for 23,000 square feet. Jeff Babikian and Mark Trevisan of CBRE represented Provident and construction company TILCON signed a long-term lease extension for its existing footprint of 35,000 square feet. Josh Cohen and Ben Brenner of C&W represented Tilcon.
“Our investment strategy at 9 Entin Road has always been centered on creating an environment where tenants want to stay and grow,” said David Elkouby, president of AEP. “The building’s continued leasing traction and retention reflects our long-term commitment to delivering a Class A experience that supports our tenants’ success.”
9 Entin Road 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 multi-million-dollar capital improvement project at the property, with upgrades such as a conference center, tenant lounge, food service, new lobbies and restrooms, a fitness center and updated landscaping. There are two remaining units available, accommodating 7,000 to 10,000 square feet, respectively.
