PARSIPPANY, NJ-Transwestern’s growing New Jersey office has taken on an exclusive assignment as leasing agent and property manager for 300 Kimball Drive, a 400,000-square-foot Morris County office building that was the former headquarters of State Farm Insurance.
The assignment is Transwestern’s first in the state following the company’s recent move into New Jersey as part of its expansion in key markets throughout the Northeast. James Postell, a principal of the company, will be leading the assignment, along with Matthew S. McDonough, managing director.
Despite the overall difficult office market in the state, Postell tells GlobeSt.com that his firm is convinced the Kimball Avenue address has a winning appeal.
“The availability of a modern, headquarters-quality office building in the Parsippany market presents a highly unique flight-to-quality opportunity for high-caliber tenants with near-term space requirements,” Postell said in in a statement about the assignment. “We are confident that we will be able to identify a number of suitable, high-quality tenants for this exceptional office asset.”
The average Parsippany office building is 24 years old, he noted. The 300 Kimball building, constructed in 2001, offers some of the area’s most modern headquarters-quality space, Postell said. In addition, he pointed to the five-story building’s on-site amenities, campus setting, and large floor plates that allow for flexible built-out options. Tenants have use of large cafeteria, separate storage spaces, and parking space.
Furthermore, said Postell, plans are in the works to re-design the lobby for multi-tenant use, add on-site gym.
The building is situated near the intersection of I-80 and I-287, within a campus that is home to Novartis, Deloitte and Day Pitney. The site also provides direct access to I-280, U.S. Routes 46 and 202, and N.J. Routes 10 and 53.
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