PARSIPPANY, NJ-The entire 150,500-square-foot building at 299 Jefferson Rd. here has been leased to specialty chemicals manufacturer Evonik DeGussa Corp., which will use the site as its North American headquarters.
The company currently is located at 379 Interpace Parkway, also in Parsippany. Its new location is managed by Grosvenor Investment Management, which acquired the building in 2007 on behalf of a public investment fund, and is in the process of renovating 299 Jefferson.
“We are very pleased to commence a long-term lease with a prestigious tenant like Evonik,” says Judy Wisniewski, senior director of GIM, in a release. “At 299 Jefferson, Evonik will enjoy build-to-suit quality at rates well below the cost of new construction.”
Terms were not disclosed, but office rents in the area range from $15 per square foot to 22 per square foot, according to LoopNet. Vision Equities represented GIM in the transaction.
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