Valley Bank leases standalone branch in Morris County

JLL announced Friday that it has arranged a long-term lease for Valley Bank at 2 Hanover Road, a freestanding retail property located in the Morris County suburb of Florham Park.

A regional bank with more than 300 branches and commercial banking offices across the U.S., Valley signed a long-term lease to operate a retail bank branch from the property.

Built in 2007, 2 Hanover Road is a colonial-style building offering 3,865 square feet of space on a half-acre lot with drive-thru access and exterior parking for 25 vehicles. A strategic corner property, it is located at a signalized intersection with frontage on both Hanover Road and Columbia Turnpike.

JLL Retail Vice President Blake Shanaphy represented Valley Bank in the lease transaction. Amy Staats, vice president at Katz & Associates, represented the landlord.

“This is a powerful move for Valley National Bank that will increase efficiency while positioning the bank to continue to cater to the needs of Florham Park residents,” Shanaphy said. “2 Hanover Road is a prime location in one of the county’s most desirable towns. It provides high visibility and heavy daytime traffic as both visitors and residents access nearby amenities, including restaurants, hotels, shops, parks and golf courses.”