In the largest transaction, the Great American Insurance Group signed a long-term renewal for its 10,000-square-
Nicholas Pascarella & Co., a financial services and planning firm, signed a new lease for 6,576 square feet. Jon Williams of Cushman & Wakefield represented the tenant as well in this transaction.
And Ellie Mae, a provider of enterprise-level automated solutions for the residential mortgage industry, signed a new lease for 2,195 square feet. The tenant was represented by Cushman & Wakefield's Morristown-based Josh Cohen.
Constructed in 2007, 50 Parsippany Road is situated near the intersection of I-287 and I-80, with access to Routes 10, 24 and 46, near several hotels. It consists of three floors of office space atop a level of covered parking. Features include a state-of-the-
"A key trend in this office market has been a flight to quality, and the lease-up of 50 Parsippany Road is another indication of that trend, and of the quality of this asset and its ownership," said Williams. "Overall, according to our firm's research, the Parsippany market is one of three statewide in which first quarter leasing activity reached quarterly highs that had not been seen throughout 2013."