"Constructing this building on speculation is a reflection of our confidence in Corporate Park 287 as a destination for corporate users," says Steven Spinweber, EVP-real estate for the Parsippany-based Sudler. The spec redevelopment is also part of the Sudler's ongoing adaptive reuse campaign for its properties here and elsewhere in the company's statewide portfolio, according to Spinweber.

"Corporate Park 287 remains a popular corporate data center location," he says. "It has seen several large corporations locate there because of its ample power and fiber optics network availability. We're confident that this new facility will continue to appeal to a variety of tenants in need of a strategic location."

The pre-cast building "is designed to be compatible with a variety of uses, including data center and flex-warehouse requirements," he says. "It will have 32-foot clear ceilings."

Corporate Park 287 currently contains 1.3 million sf, and is home to a number of major financial institutions, including American Express. The entire park has flexible zoning within a locally designated LI-5 Zone which, among other things permits data center.