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300 Kimball Drive, Parsippany, NJ 300 Kimball Drive, Parsippany, NJ

PARSIPPANY, NJ—State Farm Insurance has sold 300 Kimball Drive, a class A trophy office asset of approximately 400,000 square feet in Parsippany, NJ. Holliday Fenoglio Fowler marketed the property on behalf of State Farm, which was advised by Transwestern Investment Group. HFF also procured the private buyer. The seller was identified by Real Capital Analytics, a proprietary database service that tracks commercial real estate transactions.

300 Kimball Drive occupies 9.29 acres site at the intersection of Interstates 80 and 287, within a four-building, 850,000-square-foot office park called The Center of Morris County.  Originally built in 2001, State Farm acquired the property in 2012, and occupied it entirely until it started to phase out in 2013 and did a full renovation to accommodate multiple tenancy.  The five-story office building is LEED Silver certified, a recipient of BOMA Building of the Year and offers tenants an outstanding amenity package, including a fitness center with locker rooms, full-service cafeteria, conference center, atrium lobby, walking trail, outdoor patio and covered parking.  The 78%-leased property is home to notable tenants, including FM Global, Fiserv, Langan Engineering and Western World Insurance.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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