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Fisher, Olnick tap JLL to manage 700K office property

JLL has been selected to provide property management services to Headquarters Plaza, a 760,000-square-foot office property located in Morristown, New Jersey.

Located on Speedwell Avenue just off the Morristown Green, Headquarters Plaza is a Class A complex consisting of three commercial office buildings, a retail concourse, a newly renovated 256-room Hyatt Regency Hotel and conference facilities. 

The property offers on-site community amenities including AMC 10-screen movie theater, a day care center, dry cleaning services, Hand and Stone Massage, Hertz Rent-a-Car and a 40,000-square-foot Crunch Fitness Center. Bars and restaurants include SM23, Mehndi and Cullin’s Fresh Gourmet with leases being negotiated for a sushi restaurant and traditional tavern set to open Spring of 2023. 

The owners of the property, a partnership between the Olnick Organization and Fisher Development, recently invested $5 million to renovate the adjacent plaza by adding planter beds, a stage and a large lawn ringed on two sides by seating areas. The  plaza will be a hub for concerts and events within the community. 

The owners of the property are currently looking to modernize the entrances, interior lobby, cafeteria, parking garage structure and elevator vestibules to enhance services and increase amenities. Given Morristown’s continued appeal, leasing activity remains robust with Headquarters Plaza adding several new tenants in the first half of 2022.

JLL will partner with ownership to improve tenant engagement and revitalize the retail concourse and common areas to ensure that Headquarters Plaza remains the location of choice for Morris County businesses.

“JLL is proud to have been selected to manage an asset as iconic as Headquarters Plaza,” said Terry Harris, New Jersey Market Director and COO of JLL.  “Our team is committed to elevating the tenant experience through technology solutions and space activation that serves to create a community within the Headquarters Plaza buildings.”

“We are delighted to have JLL as our new property management partner to serve our tenants at Headquarters Plaza at a time where Morristown is experiencing high demand for downtown office space,” said Seth Schochet, President and CEO of the Olnick Organization. “JLL’s reputation for excellence and innovative technology platforms will improve our tenant engagement, which was a big part of why JLL was chosen.”

Brian Fisher of Fisher Development added, “Morristown is undergoing a pivotal moment and Fisher/Olnick recognized the need for next-level services to support ownership through our repositioning process.  JLL’s continuous flow of industry-leading ideas is the compliment we need to execute our vision.  Flight to quality does not only apply to buildings. It applies to management services, as well.”

JLL’s Property Management efforts will be delivered by a 10-person management team, led by industry veterans, Christina Honthy and Scott Granat.  Together, Christina and Scott will drive efforts to elevate building services, improve customer relations and overall tenant engagement.  

 JLL’s 2,300 property management experts in the U.S. provide comprehensive real estate services in more than 3,800 buildings totaling more than 745 million square feet.

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