4 Sylvan Way
Parsippany, NJ 07054
T-Mobile · Office Property For Sale

Single Tenant NNN Lease Investment Opportunity: As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 4 Sylvan Way for sale. Totaling 105,135 SF, this three story, class A office building is fully net leased to T-Mobile Northeast (NASDAQ: TMUS) as their northeastern region headquarters. Having been in occupancy since 2002 and its lease expiring May 2017, T-Mobile renewed for an additional ten years, extending until May 2027. The offering provides a secure income stream, a below market net rent, and NOI growth due to contractual annual rent steps of 2.5%. The Property is located in central Morris County, recognized as a premier location for businesses and known for its affluence, diversified housing and a deep labor pool. The building features ample parking (4.1/1,000 SF), a three story atrium lobby, two back-up generators, as well as updated restrooms, elevator cabs, HVAC system, parking lot repairs, among other recent renovations. T-Mobile’s commitment to 4 Sylvan Way is evidenced by their long tenure and investment into the Property, as it is only one of three locations in the U.S. that has a Network Operations Center (“NOC”).