Cushman & Wakefield Awarded Morris Corporate Center IV Phase II Assignment
PARSIPPANY, N.J., March 6, 2013 - Commercial real estate services firm Cushman & Wakefield, Inc. has been tapped by new owner MetLife to market and lease Morris Corporate Center IV Phase II, an interconnected two-building, 350,000-square-foot Class A office complex in Parsippany. The Cushman & Wakefield team will be comprised of Ken Flynn, Jr., Bill Brown and Jason Tenenbaum of the firm's Morristown, N.J. office.
"Morris Corporate Center IV Phase II is a Class A, award-winning office property," said Robert Merck, Global Head of MetLife Real Estate Investors. "We are pleased to be collaborating with Cushman & Wakefield on a significant capital improvement and leasing enhancement program, which will begin immediately." The program includes common area enhancements, upgrades to the cafeteria and fitness center, renovations of the main and side lobbies, and preparation of the buildings' vacancies.
"MetLife is a strong owner with a great reputation and financial strength. With that combination, we anticipate a great deal of interest in this trophy asset," said Flynn. "This is a highly prestigious property, and we look forward to working with MetLife on this important assignment," said Flynn.
Acquired recently by MetLife, Morris Corporate Center IV Phase II is a high-end, Energy Star property situated at 369 and 379 Interpace Parkway and consists of two interconnected five-story buildings with immediate access to the multiple interchanges of I-80 and I-287. Constructed in 1999, the property has had a strong occupancy history, including such corporate names as Pfizer and Evonik Degussa. Currently vacant as the result of a corporate consolidation and a relocation within the submarket, the buildings offer prospective tenants 42,000-square-foot floorplates.