“They're the largest security company in the world, and this is their east coast headquarters,” Savills Studley senior managing director Daniel M. Foley tells GlobeSt.com exclusively. Noting the softness of the office market in Parsippany, he says, “It gave them an opportunity to leverage that market and upgrade their facility.”

Parsippany's office market is soft because it has a lot of properties that “fit the old model,” of suburban office parks, says Foley. “There've been a lot of companies moving to more urban areas where they have more access to mass transportation. Access to mass transportation in Parsippany is very limited. A lot of these buildings were designed for the old model of four occupants for every thousand square feet of space. So these properties cannot effectively deal with a lot of companies that are looking to the new densification modeling.”

Activity is picking up in the market, but it will take a long period of sustained activity before there is any significant change in the vacancy rate, Foley says.

“It's a large deal for that marketplace,” Foley says.

Mack-Cali says the building is 89.2 percent leased. Other tenants in the building, says Foley, are Connor, Strong & Buckalew, an insurance brokerage led by South Jersey political power broker George E. Norcross III; law firm Kaufman Borgeest & Ryan LLP; Pivot Healthcare Communications, an integrated marketing communications firm in the healthcare industry; and Freestyle Solutions, an order and inventory management technology company.

Securitas, which has been in Parsippany since 1978, is currently headquartered at 2 Campus Drive and expects to relocate in the second quarter of 2016.

A Savills Studley team of Foley and senior managing director Christopher B. Marx, along with Joseph Messina (formerly an executive managing director at Savills Studley) arranged the 15-year transaction for Securitas, while Mitchell Hersh, Diane Chayes and Brian Decillis represented the landlord, Mack-Cali Realty Corporation, in-house.

Foley says Securitas wanted to enhance its corporate image in a prestigious building, geographically appealing to their existing employees. “Securitas had clear goals to be in a first-class environment, and 9 Campus Drive was a perfect fit,” he says. “We were able to secure premier, class A space at favorable terms that met the company's criteria.”

Located directly off I-287, the building at 9 Campus Drive features a recently-renovated lobby and common areas, as well as on-site amenities, such as a Grab-and Go Café and new fitness center.