JLL Capital Markets led the sales efforts for One Jefferson Road, an office property in Northern New Jersey
News release
24 February 2025
Parsippany Class A office building trades
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MORRISTOWN, N.J., Feb. 24, 2025 – JLL Capital Markets announced today that it has completed the sale of One Jefferson Road, a Class A office building totaling 100,010 square feet in Parsippany, New Jersey.
JLL represented the seller, Office Properties Income Trust, and procured the buyer, Signature Acquisitions.
Completed in 2009, One Jefferson Road is a three-story building that is currently fully leased to Day Pitney, a leading U.S. law firm, who will be vacating the building at the end of its current lease term later this year. The property offers modern finishes, flexible floorplates, a full-service cafeteria and an outdoor park with walking trails.
The property sits on an 8.49-acre site within The Center of Morris County, a four-building office campus at the intersection of I-80 and I-287 and US-46. This is Signature’s third purchase in The Center of Morris County all of which were sold by JLL.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Jose Cruz, Jeremy Neuer, Ryan Robertson and Bradley Wachenfeld.
“Signature has a vision for the future of The Center of Morris and One Jefferson is a crucial piece of the puzzle,” commented Neuer. “We are excited to see how the park continues to evolve.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Signature Acquisitions
Since 2003, Signature Acquisitions has acquired more than $700 million of assets and more than 6 million square feet throughout the Northeast. In recent years, the firm shed many of its non-strategic assets and concentrated the majority of its acquisitions on Class A office buildings, primarily in Suburban New Jersey and Long Island New York.