CBRE to Lease Up New Jersey Office Building
- Jan 06, 2021
Vision Real Estate Partners has appointed CBRE as exclusive leasing agent for a 146,000-square-foot Class A office property in central Morristown, N.J. The recently renovated 1776 On The Green was 73 percent occupied at the time of the agreement.
According to CommercialEdge data, Vision acquired the property roughly four years ago for $32 million. Dating back to 1973, the building offers 21,000-square-foot floorplates on ten stories.
The recent revamp included upgrades of the lobby, rooftop deck and other amenity spaces. The building’s first floor will feature an 11,000-square-foot golf-themed concept restaurant and bar, labelled 1776 by David Burke and Top Golf Swing Suites.
Current tenants include Wells Fargo, Becker & Poliakoff P.A. and Benjamin F. Edwards & Co. The property offers vacant space on the first floor and two 6,000-square-foot options on the third level, while the full seventh floor is also available. Located at 67 East Park Place in proximity of Interstate 287, the site is 35 miles east of Midtown Manhattan. Morristown train station is within walking distance.
Senior Vice President Jon Williams and Senior Associate Mike Nieliwodski will lead the CBRE team handling marketing on behalf of the owner. In a recent New Jersey deal, CBRE represented the landlord—Keystone Property Group—in the signing of a 60,270-square-foot office lease with LIXIL Corp.