NEW JERSEY—Prism Capital Partners LLC and The Davis Companies have team up to acquire 339 Jefferson Road, a 102,433-sq.-ft., three-story class A office building in Parsippany. Cushman & Wakefield Inc.’s Gary Gabriel brokered the deal. The transaction marks the second joint acquisition for the partnership.
Formerly known as Kingsbridge Corporate Center IV, 339 Jefferson Road was acquired from The Realty Associates Fund IV.
“There has been a resurgence of activity on Jefferson Road,” said Edwin H. Cohen, principal of Prism. “It’s a street that was largely vacant for a good period of time and is now very well-occupied by corporate-quality tenants.”
Constructed in 1988, 339 Jefferson Road offers surface and underground parking and a three-story atrium. The building is situated on five acres and located in close proximity to Interstates 80 and 287.