JLL has been selected by The Silverman Group, a New Jersey-based private equity and real estate development company, as exclusive leasing agent for 110,000 s/f of new, Class-A office space to be developed in downtown Morristown.
The two-story space will be constructed atop Silverman’s existing 27,790 s/f of retail space at 58 South Street and 10 Pine Street. It will add 110,000 s/f of brand-new office space. A 290-space mechanical parking deck will be constructed behind the building on the footprint of the current parking lot.
The JLL team of Frank D. Recine, executive managing director; Blake Goodman, executive vice president; and Jon Compitello, vice president, will provide marketing and leasing services.
“We are very excited to work with the Silverman Group on this extraordinary project,” said Recine.
“Morristown, one of Northern New Jersey’s most sought-after business locations, is experiencing dramatic commercial office demand. Access to the Morristown train station and the vast walkable amenities of Downtown Morristown resonate with a diverse range of companies seeking new, high-tech space in the heart of Morristown.”
“There are no existing properties in downtown Morristown that can accommodate tenants seeking 30,000 s/f of space,” said Compitello. “The Silverman Group is meeting this demand and creating a dynamic new opportunity with this development.”