Proposed Office to Warehouse Site in Parsippany On the Market

Proposed Office to Warehouse Site in Parsippany On the Market 800 512 Morris County Economic Development Corporation (MCEDC)

The site of a vacant office building in Parsippany — one that could be redeveloped as more than 100,000 square feet of new warehouse space — is on the market for sale.

According to JLL, which is marketing 2 Hilton Court to prospective buyers, current ownership is seeking amended site plan approval to construct a 129,270-square-foot industrial facility. That process is well underway, according to property listings, with Onyx Equities spearheading the project after acquiring the site in 2020 as part of a 10-building, 1.5 million-square-foot office portfolio from the former Mack-Cali Realty Corp.

Currently home to an empty 186,020-square-foot office building, 2 Hilton Court spans 10.41 acres, JLL said in its marketing materials. Plans call for 116,970 square feet of warehouse space, 6,150 square feet of ground-floor office space and 6,150 square feet of mezzanine office space, with ceiling heights of more than 40 feet, 25 dock doors and parking for 14 trailers and 111 cars.

“Favorable redevelopment zoning allows for office, laboratory, fabrication and assembly, warehouse and data storage warehouse uses,” JLL wrote in its marketing materials. It added that the site provides easy access to northern New Jersey and the remainder of the tristate area, noting that it’s less than two miles from Interstate 287 and four miles from Interstate 80.

JLL’s Jose Cruz, Marc Duval, Jordan Avanzato, Nicholas Stefans, Jason Lundy and Michael Zlotnick lead the team that is marketing the property for sale, with the firm’s Thomas Didio available for financing advisory.

Article courtesy of Real Estate NJ.