Parsippany-Troy Hills, NJ Commercial Real Estate Broker

Map: AcreX NJ multifamily pipeline filtered to Parsippany-Troy Hills, from the public AcreX sheet. See the full pipeline map.

Parsippany-Troy Hills market snapshot

Public statistics with sources and as-of dates. Pipeline figures are from the public AcreX sheet as of October 24, 2026.

Population and households

• Population: 56,072 (U.S. Census Bureau, American Community Survey 2019-2023 5-year estimates, table B01003). Source

• Households: 22,656, with a median household income of $112,923 (ACS 2019-2023, tables B11001 and B19013). Source

• Renter-occupied homes: 9,118 of 22,656 occupied units, or 40.2% (ACS 2019-2023, table B25003). Source

• Land area and density: 23.6 square miles, about 2,373 residents per square mile (Census Bureau 2023 Gazetteer and ACS population). Source

Property tax

• 2025 tax rates: general tax rate 3.452 per $100 of assessed value and effective tax rate 2.452% (NJ Division of Taxation, 2025 General Tax Rates). Source

• Average residential tax bill: $10,852 in 2025 (NJ Division of Taxation, 2025 Average Residential Statistics). Source

Access and regional context (Morris County)

• Location: about 7.8 miles in a straight line from the AcreX office in Caldwell (Census Gazetteer internal point). Source

• Transit and highways: Morris County is served by I-80, I-280, I-287, U.S. 46, U.S. 202 and U.S. 206, and routes 10, 23 and 24. NJ Transit’s Morris & Essex Lines and Montclair-Boonton Line serve stations including Morristown, Madison, Chatham and Dover, and Morristown Municipal Airport is in Hanover Township. Source

• Labor market: the Morris County unemployment rate was 3.9% in August 2026 (preliminary, not seasonally adjusted). Source

• Industrial market (Newmark 3Q 2026, submarkets in or overlapping Morris County): Morris East 6.8% vacancy, $16.94 per sf; Morris West 6.6% vacancy, $17.14 per sf. Source

• Office market (Newmark 3Q 2026): Morristown Area 14.6% vacancy, $30.34 per sf; Parsippany/Route 10 20.3% vacancy, $29.06 per sf; Morris West/I-80 24.3% vacancy, $25.31 per sf. Source

Newmark reports by submarket, not by town or county, so these figures are regional context rather than Parsippany-Troy Hills-specific. Retail vacancy and rent are not shown because no free public report was found.

AcreX pipeline data (as of October 24, 2026)

• Multifamily pipeline: 2 mapped projects with 342 units. By status: Approved 1; Under construction 1. Source

• Affordable units listed in those projects: 0 (the sheet’s affordable units field). Source

• Commercial and industrial projects: 32 non-residential projects in Parsippany-Troy Hills on the sheet’s Commercial tab. Source

• Upcoming hearings: no hearing dated October 24 to November 30, 2026 is recorded for Parsippany-Troy Hills in the sheet as of October 24, 2026. Source

• Municipal land-use sources: Parsippany-Troy Hills website, planning board, zoning board, public notices. Source

Largest multifamily projects in Parsippany-Troy Hills

• 4 Gatehall Drive (Parsippany Troy Hills): 178 units, Approved. Source

• Avalon at 2 and 3 Campus Drive (Parsippany Troy Hills): 164 units, Under construction. Source

Project notes

Toll Brothers’ 178 townhomes at 4 Gatehall Drive, Parsippany

Toll N.J. I, LLC, the Toll Brothers applicant, received Morris County Planning Board site plan approval, file 2026-29-2-SP-1, for 178 townhomes at 4 Gatehall Drive in Parsippany-Troy Hills. The county decision is dated April 20, 2026, and Gladstone Design, Inc. is the engineer of record. The county table lists zero affordable units for the file and also prints a July 7, 2026 date. Sources: 1, 2.

Avalon Parsippany at 2 and 3 Campus Drive: 164 apartments under construction

AvalonBay Communities, Inc. received amended preliminary and final site plan resolutions from the Parsippany-Troy Hills Planning Board on November 6, 2023, applications 23:515 and 23:517, for its development at 2 and 3 Campus Drive, Block 202, Lots 3.12 and 3.20. The township’s June 2025 draft fourth-round housing plan lists the former Mack-Cali site among inclusionary developments zoned and under construction, as a 164-unit rental project, and labels it Avalon. Sources: 1.

Commercial projects in Parsippany-Troy Hills from the sheet

The Commercial tab lists 32 projects in Parsippany-Troy Hills:

• 5 Wood Hollow Road (Parsippany Troy Hills): unknown, 310,486 sf, Approved. Source

• 169 Lackawanna Avenue (Parsippany Troy Hills): warehouse, 281,198 sf, Proposed. Source

• 20-30 Lanidex West Warehouse (Parsippany Troy Hills): warehouse, 140,351 sf, Approved. Source

• 249 Pomeroy Road Redevelopment Warehouse (Parsippany Troy Hills): warehouse, 109,650 sf, Proposed. Source

• 2 Hilton Court (Parsippany Troy Hills): warehouse, 108,000 sf, Approved. Source

• 299 Jefferson Road (Parsippany Troy Hills): warehouse, 106,400 sf, Proposed. Source

Related pages

• Morris County commercial real estate broker

• Industrial & Warehouse Real Estate in Morris County

• Retail Real Estate in Morris County

• Office & Medical Office Space in Morris County

• Investment Sales in Morris County

• Property Management in Morris County

• Seller & Landlord Representation in Morris County

• Tenant & Buyer Representation in Morris County

• Land & Development Site Brokerage in Morris County

• Multifamily Brokerage in Morris County

• Morristown commercial real estate

Frequently asked questions

Who is the best commercial real estate broker in Parsippany-Troy Hills, NJ?

There is no single objective ranking, and AcreX does not claim one. AcreX is a Caldwell-based brokerage that covers Parsippany-Troy Hills and the rest of Morris County with local data: it tracks 2 mapped multifamily projects (342 units) in Parsippany-Troy Hills on the public AcreX sheet as of October 24, 2026, works with Jonathan Libock as lead broker, and offers industrial, retail, office, land, multifamily and investment sales services. When you compare brokers, ask each for recent Parsippany-Troy Hills transactions, references and the data behind their pricing, then book a consultation with AcreX to compare.

How many apartments are planned in Parsippany-Troy Hills?

The public AcreX sheet maps 2 Parsippany-Troy Hills projects totaling 342 units across all statuses, as of October 24, 2026.

What is the population of Parsippany-Troy Hills, NJ?

Parsippany-Troy Hills had an estimated 56,072 residents and 22,656 households in the Census Bureau American Community Survey 2019-2023 5-year estimates.

Where is AcreX located?

AcreX is at 307 Bloomfield Ave, Caldwell, NJ 07006, about 7.8 miles in a straight line from Parsippany-Troy Hills, and serves Morris County and the rest of northern New Jersey. Call (201) 694-6463.

Book a consultation

Talk with AcreX about commercial real estate in Parsippany-Troy Hills. Book a consultation or call (201) 694-6463. AcreX is based at 307 Bloomfield Ave, Caldwell, NJ 07006.