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News release

EAST RUTHERFORD

JLL Inks 83,497-SF Lease for Ogilvy CommonHealth Worldwide at Morris Corporate Center III

Healthcare marketing services firm signs 11-year lease to remain within Class A, 530,000-square-foot office property in Parsippany, NJ


EAST RUTHERFORD, N.J., November 29, 2016JLL has completed a renewal transaction for the institutional ownership of Morris Corporate Center III, 400 Interpace Parkway, in Parsippany, N.J., with Ogilvy CommonHealth Worldwide. The healthcare marketing services firm signed for 83,497 square feet within Building C at the Class A, 530,000-square-foot office property.

The building owner was represented by Jonathan Meisel, managing director; Fred Hyatt and Daniel Spero, vice presidents, all with JLL. The tenant, Ogilvy CommonHealth Worldwide, was represented by Jeffrey Babakian, executive vice president, and Nicholas Savage, senior vice president, with CBRE Inc.

"Ogilvy CommonHealth truly appreciated Morris Corporate Center III and preferred to remain within the complex," said Meisel. "Ownership continues to make many improvements to the property, which was honored by the Building Owners and Managers Association with an Outstanding Building of the Year Award in each of the past three years. The attention to detail from ownership and JLL's management team had a great deal to do with helping keep Ogilvy CommonHealth at the complex."

Ogilvy CommonHealth Worldwide signed an 11-year lease for 83,497 square feet and will occupy the entire fourth floor along with a portion of the second floor and third floor of Building C at Morris Corporate Center III, 400 Interpace Parkway, which is located between Walsh Drive and Upper Pond Road in Parsippany. The healthcare marketing services firm relocated most of its space from Building B within Morris Corporate Center III.

JLL has served as property manager and exclusive leasing agent at Morris Corporate Center III since December 2007. The property was selected by the Building Owner and Managers Association of New Jersey to receive its Outstanding Building of the Year Award in 2014, and then went on to receive the BOMA Middle Atlantic Conference TOBY in 2015. This year, the property achieved a BOMA NJ TOBY Award. All three BOMA TOBY awards were in the Suburban Low Rise Category. Property management services at the complex are overseen by Dana Getz, JLL group manager and senior vice president; Brian Finnerty, chief engineer; and Shayonne Jefferson, assistant general manager. JLL also serves as exclusive leasing agent for the building, with Meisel, Hyatt and Spero overseeing marketing and transaction services.

Building improvements were overseen through a partnership between JLL's Property Management and Project and Development Services groups, with the effort led by Getz; Jerry Sullivan, senior vice president; and Susan Pady, senior project manager. Ownership has made a significant investment, with completed work including new white reflective roofs; heating, ventilation and air conditioning infrastructure mechanical improvements; a fiber-optic backbone to support a campus-wide energy management system; a renovated four-story atrium with energy-efficient LED, light-emitting diode lighting; a new fitness center; electric vehicle charging station; upgrades to the café server area; enhancements to the café seating area and common area soft seating.

In addition, the property's common corridors are being upgraded with new carpet, wall covering, ceiling system and energy-efficient LED lighting; and the complex's common-area restrooms are being renovated with a new decorative accent tile in the vanity area, as well as new subway wall tile, porcelain floor tile, LED light fixtures, and quartz-infused counter tops. Future building improvement plans, which are in the design and development phase, include enhancements to the interior and exterior of the property.

Morris Corporate Center III is a Class A, 530,000-square-foot commercial office complex comprised of four four-story buildings connected by a grand atrium. The property is situated on a 182-acre master planned corporate campus in Parsippany and was constructed in 1988. The superbly landscaped setting includes fountains and pedestrian seating areas. The building has a three-story parking garage in addition to surface parking options. The property hosts a diversified tenant profile, as evidenced by the varied cross-section of business including communications and marketing, pharmaceutical, real estate and other professional services. The property is located within three-quarters of a mile of Exit 42 B of Interstate 80 and can be accessed via Cherry Hill Road to Interpace Parkway from the east and from Rt. 46 via Walsh Drive from the north.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL's global and national corporate clients in need of real estate assistance in New Jersey. JLL's New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.