The U.S. arm of Sweden’s Securitas AB will upgrade its North American headquarters by moving to a building a half mile away from its current offices in Parsippany, N.J.
Securitas Security Services USA Inc., which provides a range of security services, will move from 2 Campus Drive to 9 Campus Drive, a building owned by Mack-Cali Realty Corp. Securitas plans to move 255 employees into an 82,092-square-foot-space, which is slightly smaller than its current headquarters, said Daniel Foley, a senior managing director at real-estate services firm Savills Studley and a member of the team that arranged the 15-year lease.
The company, in Parsippany since 1978, wanted to stay in the area and had the advantage of being in a market with lots of office space available, said Mr. Foley.“Staying in the neighborhood was essential to them retaining their valued employees,” Mr. Foley said.
The vacancy rate for the Parsippany office market was 26% in the first quarter, higher than Northern New Jersey’s overall rate of 20.4%, according to Savills Studley.
Parsippany’s “vacancy rate remains among the highest for a major suburban submarket, exceeding areas with elevated vacancy rates such as Northern Virginia and suburban Chicago’s Northwest Corridor,” said Keith DeCoster, a senior manager of Savills Studley’s national real-estate analytics, in an email.Securitas Will Move, But Stay in Parsippany
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