PARSIPPANY, NJ-On behalf of its Belco Technologies Corp. subsidiary, DuPont has signed a long-term lease for 23,383 sf at the 9 at Parsippany, a 200,000-sf office building at 9 Entin Rd. here. Belco, an air quality control technology company, will use the space as its headquarters, expanding and relocating from another nearby building.
The deal was orchestrated by VP Rick Genthe of Lincoln Property Co.'s local office, representing landlord 9 Entin Rd. Investors LLC, a joint venture between Lincoln and a fund advised by the US real estate business of UBS Global Asset Management. DuPont was represented by Richard Danesi and Brian Godau of CB Richard Ellis. Terms were not released; space in the building is currently listed with an asking price of $26 per sf.
Built in 1987, the three-story 9 Entin Rd. is situated within the Mack-Cali Business Center near Interstate 287. The Lincoln/UBS partnership acquired the asset in mid-2006 from Hartz Mountain Industries for $26.8 million, or about $136 per sf.
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