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Parsippany Firm Finally Moves into New Headquarters
November 19, 2013
Original Article

As part of its 3-phase plan, an addition to the building brought the building's grand total square footage to 208,000.

After a year, one Parsippany business was happy to announce that it officially finished moving into its new headquarters location.

Prism Capital Partners at 399 Jefferson Road in Parsippany is now officially 100 percent occupied with Biomet Spine & Bone Healing Technologies finally completing its headquarters relocation. The finished move marks the end of a 3-phase project that began when the medical device and implant manufacturer signed a lease for a year ago for the 102,000 square feet building, according to Evelyn Weiss Francisco, of Prism Capital Partners.
"This was a highly technical build-out with a compressed timeframe, and it included a 28,000-square-foot addition to the building," said Eugene Diaz, principal and partner of the Bloomfield, N.J.-based Prism. "We began work and completed the first phase without even having a signed lease."

Their early jumpstart was because Biomet R&D and manufacturing component's previous location was sold.

Prism initially bought 399 Jefferson Road in 2003 as its first investment, then sold it to a user before re-acquiring it vacant in 2010. Pinnacle Foods leased space for its headquarters in 2011 and expanded its occupancy to a total of 104,000 square feet.

Here's a look at the three phases:

Phase 1—25,000-square-foot of labs where specialty medical implant products for spinal injuries are manufactured and tested.
Phase 2—50,000 square-feet of office space was subsequently completed and occupied in May.
Phase 3—Construction began on the 28,000-square-foot addition at the same time as Phase 2. Includes housing executive space, a medical-related conference center and meeting rooms for sales presentations to the medical community.
The addition brings the building's grand total square footage to 208,000.

"Altogether, 56,000 square feet was approved by the township for a 2-story expansion," said Diaz. "During construction, the 28,000-square-foot, one-story addition was simultaneously prepped to accept a second story for Biomet's future expansion."

Other features of Biomet's headquarters include operating rooms where products are tested. The installation also includes a high-efficiency HVAC/chiller system constructed to LEED standards.

"The space looks phenomenal," said Diaz. "Occupancy of the building is now complete, with Biomet joining Pinnacle Foods on-site, whose space won Inc. magazine's 'coolest office space of the year' for 2012."

Prism Capital Partners, Biomet Technologies and Ferring Pharmaceuticals were awarded earlier this year for their creative way of filling the vacant Parsippany office space.