Office · Working now
The Grand
Morris Corporate Center 1 and 2, renamed The Grand. Half of it is now approved for residential.
- Class A office, two buildings
- Acres
- Bought
Where we found the value
- Zoning
We got half the property approved for residential.
- Deal structure
We split the property in two and are selling the residential half to a homebuilder.
- Identity
It was Morris Corporate Center 1 and 2. We renamed it The Grand, gave it a brand and built GRAND Central, a tenant lounge with a café.
- Operations
We built a custom bridge to connect the campus, and an outdoor dining patio in a grove of trees.
The Grand is a Class A office campus of two buildings, at 300 Interpace Parkway and One Upper Pond Road in Parsippany, on 30.8 landscaped acres less than a mile from the I-287 and I-80 interchange.
It was Morris Corporate Center 1 and 2, two numbered buildings. We closed on it in March 2020, as the markets were falling, and wrote a new business plan. We gave it one name, The Grand, the way we had made MCC Blue a place of its own, and built a custom bridge to connect the campus, an outdoor dining patio in a grove of trees and GRAND Central, a tenant lounge with a café, games and space to work together. It has been a hard asset, and we don’t hide that.
So we split the property in two. One half is now approved for residential, and we are selling it to a homebuilder.