Honeywell sells 465K sq. ft. property in Morris Plains, but will remain tenant

Honeywell International has sold the 465,000-square-foot office building it opened in Morris Plains in 2015, but it will remain as a tenant — the latest step for the company in reducing its ties to the state.

Honeywell opened the building on a 40-acre campus at 115 Tabor Road as its global headquarters in the fall of 2015, having moved there from just a few miles away in Morris Township, thanks to a $40 million Grow New Jersey award.

In November 2018, the company announced it was moving its corporate headquarters — and its top corporate executives — to Charlotte, North Carolina. At the time, the company said it still intended to keep approximately 1,000 employees in the state, including 800 at the Morris Plains location. It is unclear if those plans have changed.

Honeywell officials did not immediately respond to a request for information regarding the sale of the building, which was first reported by Real Estate NJ.

According to Real Estate NJ, the property was sold to Argent Ventures LLC, a Manhattan-based investment firm, for an undisclosed price.

The CBRE team of Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zach McHale marketed the property. CBRE’s Donna Falzarano and James Gunning arranged acquisition financing.