Parsippany, N.J., – The 550,000-square-foot property, under new ownership/management, recently underwent a $4 million capital improvement program that includes new warehouse space, upgraded office space, restrooms and building entrances, resurfaced parking areas and new mechanical systems and lighting.
Located at the intersection of Interstates 80 and 287, 100 Jefferson Road sits on nearly 36 acres just minutes from Routes 10, 46 and 202, and the Morristown CBD. The property provides access to New York City, Newark Liberty International Airport and the Port of NY/NJ, all within 30 minutes.
The space is available for immediate occupancy and may be divided. The meticulously maintained and well-located building boasts exceptional curb appeal along with nine loading docks and approximately 200 on-site parking spaces. It is one the largest warehouse/distribution availabilities in the Northern New Jersey market, according to Andrew Siemsen of Cushman & Wakefield’s Iselin office, who is heading the leasing effort along with Jason Goldman and Michael Kimmel.
“100 Jefferson Road is a quality asset that provides tenants with functional space, including 19-foot ceiling heights, nine loading docks and two box truck doors,” Siemsen said. “Additionally, it provides immediate access to a residential population of more than 16 million people within a one-hour drive, making it ideal for last-mile and e-commerce distribution. New ownership, led by Turnbridge Equities, has invested millions of dollars in improving the property and providing Class A experience for tenants. This is truly a one-of-a-kind opportunity in this highly sought-after market with very limited availability and an overall vacancy rate of only 3%.”
About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
