McMorgan acquires Parsippany space

McMorgan & Co. has acquired 10 Waterview Blvd., a three-story office building in Parsippany, N.J., in a joint venture with an unidentified party.

The 208,600-square-foot, class A asset, sold by TIAA-CREF, is situated on 18.6 acres in the Waterview Corporate Center business park. The property, which features newly renovated common areas, was 58 percent leased to four tenants at the time of sale and offers available suites ranging in size from 2,484 square feet to 45,032 square feet.

According to a press statement, the current rent roll is "stable with no expirations until mid-2011."

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