The Parsippany New Jersey Office Market is located approximately 33 miles from New York City and surrounded by a quality labor force. One of the top reasons both employers and employees choose Parsippany NJ office space is the access to major highways. It is easily accessible to Interstate 287, Interstate 80, Route 10 and Route 46. The Parsippany/I-287/Route 10 submarket includes towns such as Mountain Lakes, Morris Plains, East Hanover and Pine Brook, and is comprised of nearly 13.6 million square feet of class “A”, “B” & “C” office space. Newark International airport is approximately a 30 minute drive. One can access both the airport and New York City via mass transit.
There are many corporate headquarters, as well as multi-tenanted buildings, in Parsippany. Major hotels and retail centers contribute to the overall appeal of this New Jersey office submarket.
The housing market in Parsippany includes single family residences, apartments and condominiums at a variety of price points with the possibility of offering a short commute for employees. The Parsippany NJ area also has over 30 parks and several picturesque lakes, making it an appealing place to live.
Currently, there is an inventory of approximately 4 million square feet of office space available, including sublease space. Rental rates for Parsippany New Jersey office space range from approximately $12-$30 per square foot.