PARSIPPANY, NJ-With the region’s office market continuing to tighten ever so slightly, spec projects continue to pop up on the landscape. The latest entry to the market is One Jefferson Rd., a 100,000-sf, three-story class A building within the Center of Morris County business campus here. Construction is slated to start next month, with delivery scheduled for Q3 2008.

The joint venture behind the new building includes a commingled fund advised by JP Morgan Investment Management, the Hampshire Cos. of Morristown and Mack-Cali Realty Corp., Edison. Gale Real Estate Services of Roseland will manage and lease the asset, which is being built by the Gale Construction Co., also Roseland. Rotwein & Blake of Livingston is the architect.

“This will be the final development site in the Center of Morris County campus,” says Mark Yeager, president of Gale Real Estate Services. “One Jefferson Rd. comes on the heels of the success of our 100 Kimball Dr. spec development and reflects our venture’s confidence in the strength of the Morris County marketplace. We’re confident it will help meet the market’s demand for quality new space in the region.”

As reported by, Gale delivered the 175,000-sf 100 Kimball Dr. here in April, and shortly thereafter announced that it had signed accounting giant Deloitte & Touche to a long-term lease for 160,000 sf. The firm is scheduled complete its relocation to 100 Kimball from the nearby 2 Hilton Court in December, and the 90,000 sf it’s vacating at the latter site will be backfilled by Japanese pharmaceutical firm Daiichi Sankyo.

“We are committed to building class A headquarters quality office space in the New Jersey marketplace,” says Norman A. Feinstein, executive managing director of the Hampshire Cos., one of the trio of partners in the new One Jefferson Rd. project. “We anticipate tenants’ needs and read the overall market, and Morris County provides excellent demographics for a building of this caliber.”

For Hampshire, One Jefferson Rd. is the second spec building to roll out recently. As reported by this week, the firm is set to start construction for a new 81,000-sf building at its 15-acre 8 Sylvan Way in Parsippany. When completed next year, it will bulk that property up to a total of more than 177,000 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.