JLL arranges $59.975 Million financing of class A office assets
Parsippany, NJ — JLL Capital Markets has arranged $59.975 million in financing for Morris Corporate Center 1 & 2, a two-building, class A office complex totaling 550,000 s/f in Parsippany.
Working on behalf of the borrower, P3 Properties, JLL placed a four-year, floating-rate acquisition bridge loan through Bridge Investment Group. The properties are located at 300 Interpace Pkwy. and 1 Upper Pond Rd. within the larger Morris Corporate Center master planned development in the Parsippany submarket of New Jersey. The 31-acre site is less than a mile from I-80 and in close proximity to Rte. 46. Morris Corporate Center 1 & 2 features four full-height atrium lobbies, two full-service cafes, a 5,000 s/f fitness center with locker rooms and a yoga studio, two conference areas including an executive boardroom, covered and surface parking and a central pond with trellis seating areas and walking path.