PRISM RE-ACQUIRES 180,000-SQUARE-FOOT OFFICE BUILDING

PARSIPPANY, N.J. — Prism Capital Partners has re-acquired a 180,000-square-foot, Class A office building located at 399 Jefferson Road in Parsippany. The company originally sold the property in 2006 to HSBC, which also planned to occupy it. However, HSBC never took occupancy and brought the property back to market. Prism pans to complete capital improvements to the building, which HSBC gutted, and mount a repositioning campaign to lease it. Joe Garibaldi and Peter Nicoletti of Jones Lang LaSalle represented HSBC in negotiations.