Vision Real Estate Partners and a partner firm have acquired a key Morris County development site.
The firms have purchased 64 acres of the former Honeywell headquarters campus on Columbia Road in Morris Township.
The 715,000 square feet are approved for office, research and laboratory development.
“In terms of location, this site offers everything today’s corporate tenants want: access to vibrant downtown amenities; rich mass transit infrastructure; and a deep, highly educated labor pool of experienced professionals in tech, pharma and other key growth industries,” said Vision Real Estate Managing Partner Ross Chomik. “From a development perspective, tenants will benefit from the involvement of two highly experienced, high-profile real estate organizations with deep roots in New Jersey’s suburban markets.”
The Columbia Road campus will serve as a benchmark for custom, state-of-the-art workplaces focused on promoting collaboration and sustainability.
“This is not just a development opportunity — it is the development opportunity,” said Vision Real Estate founder and Managing Partner Sam Morreale. “Fortune 500 companies looking to build the type of experiential workplaces that attracts today’s millennial and Generation Z professionals need look no further.”
Morreale noted the Columbia Road campus enables the delivery of LEED, or Leadership in Energy and Environmental Design, and wellness-designed, technologically advanced buildings.
“This is the right site and the right development partnership,” Morreale said. “In short, this sizable aggregation enables us to continue our contribution to the reinvention of New Jersey’s suburban office product. We look forward to moving this promising project forward.”
Vision Real Estate Partners will oversee development of the Columbia Road campus. Vision’s partner was not disclosed.