PARSIPPANY, NJ—CBRE has arranged a new lease for Colliers International NJ LLC, at Morris Corporate Center 1, and long-term lease renewals for key tenants EBS Dealing Resources, Inc., and Ipsos America LLC in the six-pod office campus located at 1 Upper Pond Road and 300 Interpace Parkway in Parsippany, NJ. Meanwhile, the complex's owner, Brookwood Financial Partners, has announced a $3 million capital improvement program at the facility.

Colliers has signed a 10,414-square-foot lease for a five-year term. ICAP will be renewing its 21,000-square-foot lease for an 11-year term, and Ipsos will be renewing its 28,000-sq.-ft. lease for a five-year term.

The CBRE team of Leo Paytas and Greg Barkan, senior vice presidents; Garrett Rioux, senior associate; and Erin Wenzler, client services specialist, lead marketing and leasing efforts at Morris Corporate Center 1&2 and secured the leases 0on behalf of the property's owner, an affiliate of Brookwood Financial Partners, LLC. The CBRE team of Neil Kurtz, managing director; Helen Samuelson, director of asset services; and Ria Di Popolo, senior manager, oversee management of the office campus.

“Colliers, formerly located at a class B property in Parsippany, was actively seeking a class A, state-of-the-art facility in its direct vicinity,” says Paytas. “Morris Corporate Center offers the new tenant a world-class office space with all of the highly sought after amenities of today's marketplace, along with easy access to key transportation routes. On top of that, Brookwood has demonstrated a clear commitment to maintaining and improving the office campus' trophy status.”

Brookwood has said that it will invest approximately $3 million in capital improvements to the property, which it expects will be completed in mid-2015. The improvements, which will be led by Kimmerle Newman, will include renovations to the two existing full-service cafeterias in Buildings 1 and 2; renovations to the existing fitness center in Building 1; and the creation of a new conference center in Building 2.

“The primary purpose of the planned capital improvements is to create a comprehensive amenity package for tenants that will meet the evolving needs of today's corporate user,” says Barkan. “Companies are increasingly focused on offering employees an environment where they can 'work, eat and play' within their immediate surroundings. Once the renovations at Morris Corporate Center are complete, employees will have access to full-service cafeterias, a state-of-the-art fitness center and a modern conference space directly onsite.”

The 521,000 square-foot Morris Corporate Center 1&2 campus is currently about three-quarters occupied.

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Colliers Moving In As Owners Upgrade Morris Corporate Center

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