Colliers on Thursday said it successfully arranged the sale of One Jefferson Road, a 100,000-square-foot vacant Class A office building in Parsippany. The property was sold to an end-user, with the price and terms remaining undisclosed.
Colliers represented the seller, Signature Acquisitions, and procured the buyer. The transaction was facilitated by a Colliers team including Vice Chair Jacklene Chesler, Vice President Patrick Norris and Director Matthew Cohen.
High-quality asset in strategic location
Constructed in 2009, the property historically served as home to a blue-chip national law firm and was delivered vacant at the time of sale. The building sits on 8.49 acres and features premium amenities, including a marble lobby, a full-service cafeteria, and a conference center, complemented by over 391 parking spaces.
Its location at the crossroads of Interstates 80, 287, and US-46 provides unmatched accessibility to New York City and Newark Liberty International Airport, making Parsippany a continued hub for corporate activity. The surrounding area has seen significant investment, with approximately 2.7 million square feet of local office space having been or expected to be repositioned since 2017.
Colliers dominance in Morris County
The sale of One Jefferson Road marks the fourth Parsippany-area office transaction completed by the Colliers team in the last ten months, bringing their total closed volume in the area to over 700,000 square feet.
“The sale of One Jefferson Rd reflects the growing appetite for high-quality office assets in suburban markets like Parsippany,” Chesler said. “We’re proud to support continued investment in this corridor and contribute to the ongoing evolution of Morris County’s office landscape.”
The team’s extensive track record in the area includes past sales such as 600 Parsippany Road, 2 Gatehall Drive, and the Intel Corporate Center site (now District 15Fifteen). With additional sales already in the pipeline, Colliers continues to expand its market presence and deliver strong results for office owners throughout Morris County.
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