T-Mobile’s regional headquarters in Parsippany, NJ is up for sale and the brokers marketing the property, HFF, expect the 105,135-square-foot complex to fetch around $16 million.
Located at 4 Sylvan Way, the property is fully leased on a long-term, net basis to the T-Mobile which has seven years left on its current 10-year lease, according to Real Estate NJ.
T-Mobile uses the property for office and training operations and to house its Network Operations Center, one of only four such facilities in the nation, the brokers report said.
It supports cell tower operations across the U.S and is a 24/7 center.
“This desirable location near two of New Jersey’s most traveled highways offers convenient access to the dense and highly skilled labor pool of residents that live in northern New Jersey, Eastern Pennsylvania and New York State,” HFF wrote in its offering materials. “Due to its ideal location and accessibility, the area is the location of choice for many corporations including Zoetis, Wyndham Worldwide, GAF, Tiffany and Avis, among others.”
HFF said the property offers a working base for a partnership between T-Mobile and Ericsson, which have a $3.5 billion agreement to support the carrier’s nationwide 5G network deployment, reported Real Estate NJ.
June 19, 2019