Colliers has successfully brokered the sale of 199 Pomeroy Road, a vacant three-story office building, for $5,253,000. The deal marks the firm’s sixth transaction in Parsippany within the last 12 months, highlighting a robust trend of owner-user demand in Northern New Jersey’s premier business corridors.
The 5.0-acre property, formerly home to DOWC before their local expansion, was delivered vacant. With a significant portion of the interior currently in shell condition, the site offers a “blank canvas” for the undisclosed buyer to customize.
- Sale Price: $5,253,000
- Location: 199 Pomeroy Road, Parsippany
- Property Specs: Three-story building on 5.0 acres with 312 parking spaces.
- The Team: Led by Vice Chair Jacklene Chesler, Senior VP Patrick Norris, and Transaction Manager Brittany Leventoff.
Located within a mile of Interstates 80 and 287, as well as U.S. Route 46, the property provides the regional connectivity that has attracted giants like Avis, Wyndham and Teva Pharmaceuticals to the area.
“The property’s visibility, parking ratio, and flexible use profile make it a highly attractive option for users and investors looking to establish a presence in the Parsippany market,” Jacklene Chesler, vice chair at Colliers said.
This closing is the latest in a high-velocity streak for the Colliers team. Over the last eight months, the group has moved more than 600,000 square feet of owner-user space across Morris and Somerset Counties. In Parsippany alone, they have eclipsed 900,000 square feet in sales over the past year.
Other recent high-profile closings by the team include:
- 1 Jefferson Road & 45 Waterview Boulevard (Parsippany)
- 80 Cottontail Lane & 1130 Route 22 East (Bridgewater)
- 45 Technology Drive (Warren)
