Honeywell International affirmed its commitment to keeping a sizeable workforce in New Jersey on Monday night, saying it has signed a 10-year lease to remain at the Morris Plains facility that previously served as the company’s global headquarters.
“We have a longstanding presence here and we value our relationship with the state,” company spokesperson Eric Krantz told ROI-NJ.
The comments came on the day it was revealed that Honeywell had sold its 465,000-square-foot Morris Plains facility — the company’s largest in the state — to Argent Ventures LLC, a Manhattan-based investment firm, for an undisclosed price.
“Honeywell is selling the Morris Plains facility to a real estate investment firm that will manage the operations and amenities,” Krantz said. “The company has signed a long-term lease for the hundreds of employees who will continue to work there. No Honeywell positions are affected.”
Honeywell is not leasing the entire building, which will be subdivided for multitenant use. Cushman & Wakefield will serve as the leasing agent.
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The sale of the building is another milestone moment for the facility.
Honeywell opened the headquarters on a 40-acre campus at 115 Tabor Road to much fanfare in the fall of 2015. The company relocated to Morris Plains from nearby Morris Township thanks in part to a $40 million Grow New Jersey award. Honeywell, at the time, said it was considering moving out of state.
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.
Krantz said that position has not changed.
“Honeywell anticipates maintaining a significant presence in Morris Plains and across the company’s six locations in the state, and this announcement does not change that,” he said.