Medical Arts Plaza in Parsippany

NAI Hanson Facilitates Sale of 5,870-SF Medical Arts Plaza in Parsippany

NAI James E. Hanson, a Hackensack-based commercial real estate firm, announced it has facilitated the sale of the 5,870-square-foot Medical Arts Plaza at 2839 Route 10, Parsippany.

Scott K. Perkins, SIOR, managing director of corporate services at NAI Hanson and Gregory M. James, director of capital markets at NAI Hanson, arranged the sale to MCBS Realty on behalf of the building’s former owner, Medical Arts Plaza of Parsippany, LLC.

Located along Route 10, the two-floor building is easily accessible from Routes 80, 202 and 287 and sits within a major office-building corridor of Parsippany. As a result of its location and upkeep, the building remains substantially leased with long-time tenants.

Perkins said, “We’re seeing a trend that investors are interested in adding medical office buildings to their portfolios as core assets. This deal exemplifies this trend as we helped our client identify such an investor, who was looking for a property that will remain attractive to tenants due to location and condition.”

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