CBRE today announced it has completed five new office leases totaling 45,000 sq. ft. at 1776 On The Green, a 146,000 sq. ft. Class A office property at 67 East Park Place in Morristown, New Jersey. The CBRE team of Jon Williams and Mike Nieliwodski spearhead the leasing campaign at the newly renovated property and arranged the lease transactions on behalf of ownership, Vision Real Estate Partners.
“1776 On The Green has surpassed all expectations, attracting several quality tenants despite a slowdown in the market due to the pandemic,” said Williams. “One of the main reasons for the property’s allure is that it offers a distinct experience for tenants returning to the office. Ownership created more than just amazing space, but also access to some of the best amenities in the market. In addition to tenants being able to take advantage of everything the town has to offer, the property’s enhanced amenity spaces include a high-profile restaurant by renowned chef David Burke, the global sports entertainment facility Topgolf and an unsurpassed roof deck overlooking the historic Morristown Green.”
Among the new leases completed at the property was an 11,315 sq. ft. transaction by residential real estate firm Compass for its new office space; a 7,106 sq. ft. lease by wealth management and financial services provider Mercer Advisors; a 6,998 sq. ft. commitment by DataMotion, a secure data delivery company relocating from Florham Park, NJ; accounting and business management software provider Sage’s 1,000 sq. ft. relocation from within Morristown; and Metin’s 1,096 sq. ft. new office space.
“What we offer at 1776 On The Green is an institutional-quality asset in an unrivaled downtown suburban setting. The enhanced tenant experience by way of immediate Morristown Green presence and access to shops and dining is a proven combination for success. We look forward to another successful experience with CBRE,” said Sam Morreale, Vision Real Estate Partners Co-founder and Managing Partner. “The renovations and upgrades undertaken by Sam Morreale and Ross Chomik of Vision Real Estate Partners completely changed the entire office leasing landscape in Morristown, where asking rents are up by over 20%,” continued Williams.
Located in the heart of downtown Morristown, New Jersey’s premier live/work/play Central Business District, 1776 On The Green provides immediate access to restaurants, shopping, and residential life. The property is a short walk to the Morristown train station, providing direct access to Midtown Manhattan.