MORRISTOWN, NJ – January 31, 2022
Five office leases totaling 45,000 square feet and a host of amenities have been completed at the 1776 on the Green office building in Morristown owned by Vision Real Estate Partners, according to a Friday announcement from CBRE.
The CBRE team of Jon Williams and Mike Nieliwodski spearheaded the leasing campaign at the newly renovated, 146,000-square-foot Class A office property at 67 E. Park Place, and arranged the lease transactions on behalf of ownership.
“1776 on the Green has surpassed all expectations, attracting several quality tenants despite a slowdown in the market due to the pandemic,” Williams said. “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-square-foot transaction by residential real estate firm Compass for its new office space; a 7,106-square-foot lease by wealth management and financial services provider Mercer Advisors; a 6,998-square-foot commitment by DataMotion, a secure data delivery company relocating from Florham Park; accounting and business management software provider Sage’s 1,000-square-foot relocation from within Morristown; and law firm Metin’s 1,096-square-foot 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%,” Williams said.