NJM Insurance Group Relocates to The Arbors @ Parsippany with 53,000 Sq. Ft. Lease

NJM Insurance Group, a leading insurance provider, has inked a lease for 53,000 square feet at The Arbors @ Parsippany, marking a significant move from their long-time location and joining the growing business community in this renovated office campus.

Parsippany, NJ - NJM Insurance Group has finalized a lease for 53,000 square feet at The Arbors @ Parsippany, a newly refurbished office campus off Route 202. The move, facilitated by Onyx Equities, represents a commitment by NJM to upgrade its work environment while staying within the Parsippany community.

NJM will relocate from its current premises at an adjacent building to 1 Sylvan Way, integrating into a campus environment with a range of modern amenities. The Arbors, known for its state-of-the-art facilities, offers a 5,200-square-foot fitness center, multiple cafes, conference spaces, outdoor dining, and recreational areas, all designed to foster a dynamic work environment.

JLL, a global real estate service, represented both parties in the leasing deal. NJM’s new space is being engineered by RockBrook, alongside Studio 1200 architects, ensuring a seamless transition to a more contemporary and efficient workplace.

“Some of the largest, most successful brands in the world have chosen to locate in Parsippany, like NJM, and we are proud to be their home,” Mayor James R. Barberio said. “We are actively working to attract those who are building the future and appreciate Onyx Equities forward-looking strategy because these businesses are the backbone of our economy and the cornerstone of our community.”

This deal is a testament to Onyx’s successful $15 million overhaul of the 60-acre, 750,000-square-foot portfolio, encompassing five buildings including 3 and 5 Sylvan Way and 4 and 6 Campus Drive. The renovation has attracted notable tenants such as the law firm Fein, Such, Kahn & Shepard PC, Ricola USA, and Robert Half International.

The Arbors stands out not only for its high-tech upgrades and redesigned spaces but also for its extensive outdoor areas featuring 1.5 miles of paths ideal for walking, biking, and hiking, enhancing the work-life balance for tenants.

“Our strategy to transform well-located office buildings into technologically advanced and aesthetically pleasing spaces is yielding positive results, even in a challenging market,” said Jonathan Schultz, an Onyx Equities co-founder and managing principal. “Moving here provides companies with a remarkable office environment, which is a significant advantage in attracting and retaining top talent in today’s competitive job market.”

The Arbors has also focused on community engagement, recently hosting a Fall Fest that brought together over 500 tenants and their families for a day of celebration and connection.

Christopher Malone, NJM Insurance Group’s Senior Vice President and CFO, expressed satisfaction with the move. “It provides our employees with an upgraded and modern environment and enables NJM to remain in Parsippany, which has been our North Jersey home for over 25 years. We look forward to occupying our new space and believe it will provide an enhanced workspace for our employees as they serve the needs of our policyholders,” he stated.

The relocation of NJM Insurance Group to The Arbors @ Parsippany signals a new chapter for both the company and the Parsippany business community, reflecting a trend towards dynamic, amenity-rich workspaces in the region.