{"id":1004799164,"date":"2026-05-19T23:28:19","date_gmt":"2026-05-20T07:28:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004799164"},"modified":"2026-05-20T01:52:12","modified_gmt":"2026-05-20T09:52:12","slug":"exclusive-siemens-buys-new-jersey-base","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exclusive-siemens-buys-new-jersey-base\/","title":{"rendered":"Exclusive: Siemens Buys New Jersey Base"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004799173\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/2-gatehall-drive-in-parsippany-nj-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ-edited.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2 Gatehall Drive in Parsippany, NJ\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The building rises four floors.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ-edited.jpg\" alt=\"\" class=\"wp-image-1004799173\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/2-Gatehall-Drive-in-Parsippany-NJ-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">The office building underwent cosmetic renovations in 2024. <br><em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Siemens has purchased the 404,515-square-foot office building at 2 Gatehall Drive in Parsippany, N.J. for $21 million, or roughly $52 per square foot, according to Yardi Matrix information. A private individual sold the asset.<\/p>\n\n\n\n<p>The Class B asset previously traded in 2025 for $17.8 million, or $44 per square foot, the same data provider shows.<\/p>\n\n\n\n<p>Completed in 1985 on a 19-acre site, the building features 101,129-square-foot floorplates across four levels. Siemens has been a tenant at the property since 2022, when the company signed a 43,000-square-foot lease with SRG2 Partners\u2014previously known as Silverman Realty Group Inc. Other tenants include software companies Oli Systems Inc. and Ricoh Printing Systems America Inc.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/office-industry-trends\/\">Office Real Estate Trends in 2026<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The low-rise is just off New Jersey State Route 10, close to the interchange with U.S. Route 202. Downtown Newark, N.J., is less than 24 miles southeast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-office-sales-keep-steady\">New Jersey office sales keep steady<\/h2>\n\n\n\n<p>In the first quarter of this year, New Jersey registered $164 million in office investment activity, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-construction-lags-coworking-gains-ground\/\">Yardi Matrix report<\/a>, with assets trading at an average price of $113 per square foot. The total sales figure positioned the market in the second half of the 25 top U.S. markets tracked by the data provider, between Denver, Colo. ($188 million) and Philadelphia ($139 million).<\/p>\n\n\n\n<p>Nationally, investment sales during the same timeframe amounted to $12.7 billion, with assets changing hands at an average price of $220 per square foot. Class B office properties continue to trade close to the $150 per-square-foot mark since the first quarter of 2023. Meanwhile, though slightly cheaper, Class C assets are rapidly approaching the same figure as Class B ones, while Class A and A+ office buildings sell above $200 per square foot. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company first signed a lease at the property in 2022.<\/p>\n","protected":false},"author":3619,"featured_media":1004799173,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21747],"tags":[36515],"class_list":["post-1004799164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-siemens"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Exclusive: Siemens Buys New Jersey Base - 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