CBRE arranges 4 office leases at corporate center in Morristown

By Emily Bader
Morristown | Nov 7, 2019 at 11:34 am

CBRE announced Wednesday four new office lease deals at the Mount Kemble Corporate Center in Morristown.

The deals, which total 39,832 square feet, have brought the Class A, two-building office complex located at 350-360 Mount Kemble Ave. to 97% occupancy.

CBRE’s Daniel Casey, first vice president, and Greg Barkan, senior vice president, were the exclusive leasing agents for the property and represented ownership during negotiations.

The center was built in 2001 and acquired by a partnership between The Birch Group and Vision Properties in 2018. At the time, the complex was 81% leased. Ownership then updated the cafeteria, fitness center, lobby, landscape and hardscape as well as created an on-site 55-seat conference center.

“The success achieved at Mount Kemble Corporate Center is due to Vision Properties’ longstanding experience and deep understanding of trends in the New Jersey submarkets. We focus on the everchanging needs of existing and prospective tenants and build our strategy around how the asset can uniquely accommodate those needs. Our team was successful in identifying the distinct qualities of the asset and effectively activating those qualities to differentiate the asset against its competitive set and drive leasing velocity,” David Milewski, asset manger for Vision Properties, said.

In the largest deal, NFP, an insurance brokerage, leased 16,970 square feet at the center. NFP was represented by Jeffrey Babikian and Conor Dolan of CBRE.

In addition to NFP, Avaya, a technology company, extended its lease by 11,161 square feet to 48,098 square feet. Robert Donnelly Jr. of Cushman & Wakefield represented Avaya in negotiations.

Lord, Abbett & Co. LLC also leased at the property, with a 7,817-square-foot space it will utilize for a disaster recovery center. Timothy Greiner and Craig Eisenhardt of JLL negotiated the lease on behalf of Lord Abbett.

Finally, 1792 Wealth Advisors LLC leased 3,884 square feet of space. Mike Marchese of Chilmark Real Estate Services represented the firm.

“Mount Kemble Corporate Center is ideally located in one of the Garden State’s most desirable and affluent markets,” Casey, first vice president, said. “Given its proximity to downtown Morristown, a highly sought-after live-work-play destination, and New Jersey Transit Commuter Rail and bus services to New York City, we continue to see tremendous demand by major office users.”

The complex is within close access to interstates 287 and 78 and routes 24 and 202.

Emily Bader | ebader@roi-nj.com | emilybader