PARSIPPANY — The Kislak Company, Inc. announced the recent sale of a 131,346-square-foot office building situated on 7.98 acres at 959 Route 46 for $10 million.
Kislak arranged the off-market sale, with Senior Vice President Tom Scatuorchio and Managing Director Matt Weilheimer representing the parties in the transaction. The identities of the buyer and seller were not disclosed.
According to Kislak, the purchaser is a longtime client of the firm. With this latest acquisition, Kislak has now completed five transactions with the buyer, involving nine properties totaling more than 330,000 square feet.
“While the buyer remains confidential, I can share that they have a proven track record and a genuine commitment to investing in our community. This acquisition is a positive step for our local economy, reinforcing confidence in our corporate corridor and helping to position Parsippany for continued growth. Strategic investments like this strengthen our tax base, support local businesses, and create long-term opportunities. We are encouraged by this transaction and look forward to seeing the positive impact it will bring to our community,” said Frank Cahill, Chairman of Parsippany-Troy Hills Economic Development.
“This was a highly collaborative and creative transaction that required aligning the objectives of the buyer and seller,” said Scatuorchio. “By leveraging our long-standing relationships and market expertise, we structured a transaction that achieved a successful outcome for all parties. We value our relationships with the buyer and seller and look forward to future opportunities with them.”
The Parsippany property is strategically positioned along Route 46 and features a diverse tenant roster. The building offers modern office amenities, including a dramatic two-story atrium lobby and on-site food service.
Article sourced from the Parsippany Focus read the full article here.