Summit Financial Expands to 42,000 sq. ft. in Latest Deal at New-look Parsippany Office Park

This article appeared originally on Real Estate NJ.

Investment adviser Summit Financial is expanding in Parsippany under a newly signed lease extension with Onyx Equities, according to a brokerage team with Cresa.

The firm, a longtime tenant at 4 Campus Drive, will now occupy 42,000 square feet after signing the long-term commitment at the 147,475-square-foot building. That represents a 15 percent expansion, adding to recent momentum at the modernized office park known as The Arbors.

Cresa’s Dan Foley and Chris Masi represented Summit Financial in the expansion and long-term lease extension, which comes nearly five years after the firm last renewed its lease at the property. The landlord at the time had undertaken major renovations to the three-story building’s entranceways, lobbies, cafeteria, conference room, hallways and the courtyard connecting it to 6 Campus Drive, among other investments.

Onyx’s John O’Hearn represented ownership alongside Cushman & Wakefield’s Patrick Dean, David DeMatteis and Mark Zaziski. Other recent deals at the building include a new 24,947-square-foot lease by Einhorn, Barbarito, Frost, Botwinick, Nunn & Musmanno PC, which relocated from its longtime home in Denville.

Located just off Route 202 and north of Route 10, 4 Campus Drive is part of five-building, 750,000-square-foot portfolio that Onyx has repositioned in recent years. That includes spending $15 million to create new amenity spaces such as a high-end 5,200-square-foot fitness center, three cafes, conference facilities, outdoor dining areas and recreational spaces.