B&G Foods Inc. recently announced that it signed a nearly 16-year lease to relocate to 8 Sylvan Way in Parsippany.
JLL worked to complete the 46,000-square-foot lease for the repositioned Parsippany office property owned by Orion Properties, Inc.
A JLL team led by Tim Greiner and David Stifelman serves as exclusive leasing agent for 8 Sylvan Way and represented ownership in the B&G Foods lease. The tenant was represented by Josh Cohen and Ben Brenner of Cushman & Wakefield.
With roots dating back to the 1880s, B&G isa food holding company with products ranging from B&G Pickles and B&M Baked Beans to Ortega Mexican meal products. The company signed a 15.7-year lease to relocate its corporate headquarters from nearby 4 Gatehall Dr. and consolidate its North America operations across the entire second floor and a portion of the third floor within the east wing of the new property.
JLL’s Project Development Services will build out the space on behalf of Orion to include a test kitchen for B&G Foods to undertake research, new product formulation, and quality control. The company will relocate before the end of the year.
“Orion is pleased to welcome another distinguished tenant to 8 Sylvan Way as we advance our property’s comprehensive redevelopment plan and continue to find innovative ways to meet the demands of today’s tenants seeking office, research or laboratory space,” Steve Palmesi, investment manager, Orion Properties, said.
Orion is scheduled to complete a multimillion-dollar capital improvement program by Aug. 2025. The work includes upgrades to the parking lot, the installation of electric vehicle charging stations, and new landscaping and walking trails. The property’s three training rooms and board room are also being renovated. Along with new audio-visual technology, the interconnected rooms will be able to provide town hall capacity for up to 350 people and offer access to the onsite cafe. The lobby is also being modernized, while the fitness center is being upgraded with new locker rooms and showers.
Tenants will also be able to use expanded health and wellness services offered by LifeTime Fitness when it opens next door. That upscale health club chain offers studios, saunas, spas, athletic courts, and swimming pools.
“Orion envisioned 8 Sylvan Way as a space where top-tier tenants would want to plant their flag. In a market flooded with outdated products, the property has been reimagined from a one-tenant asset into a superior multi-tenant destination. With two major leases now signed, momentum is building for the remainder of the space, and we anticipate further announcements soon,” Stifelman said.
Comprised of two three-story buildings connected by a glass atrium, 8 Sylvan Way is situated on 15 acres of land with a lake, outdoor seating areas and walking and bike trails. The property is surrounded by restaurants, convenience and lifestyle services, including a nearby Wegmans, Seasons 52, Ruth’s Chris Steak House, Capital Grille and Panera Bread. There are also numerous hotels within a two-minute drive. Bright Horizons daycare is also located across the street.
Located at the crossroads of major roadways including Interstates 80, 280 and 287; U.S. Routes 46 and 202; and New Jersey Routes 10 and 53, the property is five minutes from Morris Plains Train Station, which provides direct service to New York Penn Station, Midtown Manhattan and Hoboken Terminal. Morristown Municipal Airport is located five miles from the campus and Newark Liberty International Airport is 24 miles away. Bus service to the Port Authority Bus Terminal in Midtown Manhattan is provided by Lakeland Bus Lines.
