Cushman & Wakefield Inks Panalpina Renewal at 1776 On The Green

June 21, 2010 - PRLog -- MORRISTOWN, N.J., June 21, 2010 – The Panalpina Group, a global shipping organization, has renewed its 33,000-square-foot, long-term lease at 1776 on the Green in Morristown, announced commercial real estate services firm Cushman & Wakefield, Inc. RREEF, the real estate investment management business of Deutsche Bank’s Asset Management division, owns the 154,132-square-foot landmark office property.

Cushman & Wakefield’s Edward Duenas, Marc Graham and Jeremy Neuer serve as exclusive leasing agents for 1776 on the Green, which sits at 67 Park Place East and enjoys prominent status as one of only five Class A office buildings in Morristown’s central business district.

Panalpina Inc., a long-time tenant at the property, occupies two full floors. The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in end-to-end supply chain management solutions and intercontinental air freight and ocean freight shipments. Panalpina operates a close-knit network with some 500 branches in 80 countries. In a further 80 countries, it cooperates closely with partner companies. Panalpina employs approximately 13,500 people worldwide.

Chris Mason of Jackson Cooksey and Rob Rencarge of Cresa represented Panalpina in the 1776 on the Green renewal.

“1776 on the Green is a great destination location,” Duenas said. “It offers first-class finishes, on-site decked parking, outstanding local amenities and mass transportation access.”

The 10-story building overlooks “The Green,” an acre of town-owned land in a thriving commercial neighborhood that includes a NJ TRANSIT commuter station; the Morris County seat and court system; Morristown Memorial Hospital; and high-end residential, retail, dining and lodging. 1776 on the Green is easily accessible from interstates 287, 78, and 80, as well as routes 24, 10, 202 and 46.

Cushman & Wakefield currently is marketing units from 2,214 to 12,000 square feet at the building. Duenas noted that 1776 on the Green is well-suited for tenants in the legal and FIRE sectors. “The property is within walking distance to the courthouse, and unlike many other buildings in the area, it is easily divisible for small and mid-size users,” he said.