Intercontinental Real Estate Corporation Acquires Morris Corporate Center 4 In Parsippany

On Mar 3, 2015

Intercontinental Real Estate Corporation, a national real estate investment, development, and management firm headquartered in Boston, announces the acquisition of Morris Corporate Center 4 in Parsippany. This acquisition was led by Michael Keyes, Director, Acquisitions and Patty Pytlik, Associate Director, Acquisitions.

Morris Corporate Center 4 is a Class A office property consisting of two interconnected 5-story buildings totaling 345,218 square feet. Intercontinental purchased the Property in a Joint Venture with Ivy Realty. The Property is conveniently situated within the 182-acre Morris Corporate Center, a premier Class A office campus totaling approximately 1.75 million square feet. Morris Corporate Center provides exceptional north/south and east/west access as the park is located less than a mile from I-80 (Exit 42B), Route 46 and Route 202 and only two miles from I-287.

The subject asset is the newest office building in Morris Corporate Center and is considered to be one of New Jersey’s premier properties illustrated by its timeless architecture and modern design, including a dramatic atrium lobby, elegant finishes featuring fine woods and granite and flexible, center core floor plates. Property amenities include a café, fitness center, tenant lounge and coffee bar with televisions and seating throughout the common areas, and a conference center with moveable walls for maximum flexibility.

Tom Taranto, Director of Acquisitions, Portfolio & Asset Management commented, “We are pleased to once again partner with Ivy Realty. Ivy’s experienced, proven management team will lead our capital plan to reposition and lease up this high quality, very well located Class A property.”

Related Articles: