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PARSIPPANY, NJ-Schoor DePalma, an engineering and architectural firm based in Manalapan, NJ, has signed a lease for 25,000 sf of office space at 20 Waterview Blvd. here. The 226,000-sf class A office building is owned by the Gale Co. of Florham Park, NJ.The tenant was represented by Eric Witmondt, chief executive officer, and Janice Saxton, director, of GVA Williams of New Jersey, Parsippany. Justin Gingeleski, vice president of the Gale Co., was the owner’s in-house leasing rep. Terms of the signing were not disclosed.Schoor DePalma is moving its regional office, one of a dozen it maintains in New Jersey and Pennsylvania, from the nearby 24,648-sf 160 Littleton Rd., a company-owned facility which it recently sold. In that transaction, GVA Williams repped Schoor DePalma. The seller, Thaleia Associates, a local partnership, was represented by Michele Andre, senior vice president, and sales associate Barbara Ismail of Weichert Commercial Brokerage, Morris Plains, NJ. The sale price was not disclosed, however, sources indicate that the number was likely in the vicinity of $3 million.And the new owner plans to launch a renovation of Schoor DePalma’s old building, positioning it either for single-tenant use or in units starting at 1,500 sf. Availability is slated for Aug. 1, according to Andre, whose firm has gotten the assignment to market the space.”Right now is the perfect opportunity for a company that is looking to either expand or downsize to move into this three-story building,” Andre says. “With low interest rates and the rising demand for commercial properties due to increasing value, now is an opportune time to find a space that fits your needs.

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