Transwestern Investment Group sells 400,000 s/f office building in Parsippany, New Jersey
PARSIPPANY, NJ —Transwestern Investment Group (TIG) has sold a 400,127 s/f, class A office building at 300 Kimball Dr. in Parsippany, on behalf of a large national insurance company. The sale follows an expansive capital improvement program which transformed the asset from a single-tenant property into a state-of-the-art, multitenant facility. Fully occupied by the seller until 2013 when renovations began, property improvements included redesigns of the building’s 4,900 s/f lobby, 8,600 s/f bistro, and 3,000 s/f fitness center. Additionally, numerous sustainable improvements were implemented to strengthen the building’s performance. As a result of these efforts, the building received LEED Silver certification, has earned an ENERGY STAR certification four times, and won the Grand TOBY award from the Building Owners and Managers Association in 2017, the association’s highest honor.