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PARSIPPANY, NJ-TIAA-CREF has 115,000 sf available at its 540,000-sf Morris Corporate Center III and has hired Jones Lang LaSalle to fill that space, as well as to manage the four-story, 17-year-old property. The assignment had been in the hands of locally based SJP Properties, which originally developed the building and sold it to TIAA-CREF several years ago.

The leasing effort will be headed by EVP Jonathan Meisel and SVP Kenneth Flynn of JLL’s local office. The firm’s Dana Getz will take over the role of general manager, responsible for the building’s property management.

The space availability includes a rare 50,000-sf block of contiguous space on the asset’s third and fourth floors. The asking rate for that and the smaller space has not yet been posted; comparable space in the surrounding 2.6-million-sf Morris Corporate Center is generally listed with asking prices in the $30-per-sf range.

“Morris Corporate Center III is a trophy asset,” says Linda Aronson, director of operations for JLL. “TIAA-CREF is a longstanding national client, and we’re happy to expand our relationship.”

“It is an example of the types of commercial properties that fit our investment strategy,” says Steven Bither, director of real estate asset management for TIAA-CREF. “We will continue to manage this property in order to create maximum value.”

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