Parsippany office building sold for $2.8M; to be Mental Health Association HQ

A 22,798-square-foot Parsippany office building has sold for $2.8 million, and will serve as the new headquarters for the Mental Health Association of Essex and Morris County, according to real estate firm NAI James E. Hanson.

The CRE firm said in a news release that Parsippany Boulevard Commons Office Center, located at 1160 Parsippany Blvd., was sold by Genelle II LLC to the Mental Health Association. NAI Hanson’s Josh Levering represented the seller, while Colliers’ Chris Hovanec represented the buyer.

“While the office market has experienced challenges over the past few years, we continue to see good demand in the market for well-located and modern buildings,” Levering said in a prepared statement. “It’s more important than ever for owners to continue to invest in their properties to ensure they can stand out in today’s market and attracted interested parties like the Mental Health Association of Essex and Morris County.”

The property at 1160 Parsippany Blvd. is one of two buildings in the Parsippany Boulevard Commons complex, which features twin office properties totaling 45,972 square feet. It has recently undergone substantial renovations and upgrades to common areas, the parking lot and more, NAI Hanson said.

The firm is the exclusive brokerage firm for the property.