PARSIPPANY, NJ—Ogilvy CommonHealth Worldwide, a healthcare marketing services firm, has signed an 11-year lease renewal for 83,497 square feet within Building C at the class A, 530,000-square-foot Morris Corporate Center III, 400 Interpace Parkway, Parsippany, NJ.
The property was sold in July 2011 to an affiliate of JPMorgan Chase for $109.2 million by TIAA-CREF, according to Real Capital Analytics, a proprietary research database that tracks commercial real estate property sales, transfers, and refinancings. It could not be determined if JPMorgan purchased the property on behalf of investors or for its own portfolio.
The building owner was represented by Jonathan Meisel, managing director; Fred Hyatt and Daniel Spero, vice presidents, all with Jones Lang LaSalle. Ogilvy CommonHealth Worldwide was represented by Jeffrey Babakian, executive vice president, and Nicholas Savage, senior vice president, CBRE.
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