The tenant was represented by David Simson, president of GVA Williams New Jersey, which has its main office here. Landlord Acquiport Parsippany LLC, an entity controlled by New York City-based Lexington Realty Trust, was represented in-house by VP Andy Zhong. Terms were not released; space in the surrounding office campus generally commands numbers in the $30 to $32 per sf range.
"This substantial lease agreement is great news for Parsippany, Morris County and the entire state," says Simson. "The transaction is one of the largest in New Jersey this year, and Reckitt Benckiser's commitment is a terrific win for our economy."
The direct lease replaces and expands on a sublease signed by Reckitt Benckiser a couple of years ago. At the time, the company relocated its US home base from its previous location in Wayne, NJ.
On the legal side, attorney Howard Neuman of Satterlee, Stephens, Burke & Burke's Iselin, NJ office represented Reckitt Benckiser. Acquiport Parsippany LLC was represented by Jonathan Eisenman of Eisenman, Levine, Lehrhaupt & Kakoyiannis of New York.
Reckitt Benckiser makes and sells a number of well-known consumer and household brands, including Lysol, Easy-Off, Resolve cleaners, Air Wick and French's mustard.
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