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Transwestern, HFF Sell Parsippany Offices Formerly Occupied By Owner
Transwestern Investment Group has sold a 400,127-square-foot, Class A office building at 300 Kimball Drive in Parsippany, NJ, on behalf of a large national insurance company. The property traded for $66 million to a private buyer.
The insurer occupied the property in its entirety until 2013, when an expansive capital improvement program and lease-up began.
A Transwestern Commercial Services team of James Postell and Matthew McDonough brought the property to 78% occupancy. Tenants include FM Global, Fiserv, Langan Engineering and Western World Insurance.
The capital improvements also led to 300 Kimball winning multiple awards and certifications. In 2017, it won the Grand TOBY award from the Building Owners and Managers Association, the association’s highest honor.
An HFF team of Kevin O’Hearn, Jose Cruz, Stephen Simonelli and Michael Oliver represented the seller and also procured the buyer.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
