Leases, Renewals And Leasing Team Expansion At Headquarters Plaza

April 27, 2011 - PRLog -- MORRISTOWN, N.J.- A flurry of new leases and renewals at Headquarters Plaza in Morristown, and the expansion of a decades-long Cushman & Wakefield, Inc. agency assignment, signal continued demand and quality at this landmark office complex. Developed and owned by Olnick-Fisher, a partnership of privately owned real estate companies the Olnick Organization and the Fisher Organization, the 600,000-square-foot office property includes three towers at 1, 2 and 4 Speedwell Ave. on the Morristown Green.

Among the recent new leases and renewals:

•   Eclipse Marketing Services Inc., which provides direct marketing for the cable TV and entertainment industries, leased 16,500 square feet and relocated its headquarters operation to Headquarters Plaza from another Morristown address.
•   Former Headquarters Plaza subtenant Pearl Therapeutics, a privately held company that develops combination therapies for the treatment of respiratory diseases, expanded and signed a direct lease for 3,336 square feet.
•   Jackson Lewis, LLP, a firm specializing in labor and employment law, renewed its commitment at Headquarters Plaza. A tenant there since 2004, the practice occupies 23,500 square feet.  
•   The State of New Jersey Appellate Judges, a tenant at Headquarters Plaza since 1989, renewed its 16,500-square-foot commitment.
•   Hays Group, a national insurance brokerage firm, renewed their 3,900-square-foot lease at the property.
•   The State of New Jersey Judicial Offices, also a Headquarters Plaza tenant for more than two decades, renewed its 4,230-square-foot courtroom lease at the property.  

Cushman & Wakefield’s Robert Donnelly, Jr., Jon Williams and Ben Brenner of the commercial real estate services firm’s Morristown office - which is located at Headquarters Plaza  have joined the property’s leasing team, which has been headed by Robert Donnelly, Sr., and Marc Rosenberg since the property was developed.

“Headquarters Plaza has long been considered a frontrunner for Morristown’s urban redevelopment and enjoys a history of success supported by ongoing investment by its solid, family ownership,” Donnelly, Jr., noted. “Today, the complex continues to outperform the larger Morris County market in terms of occupancy, and includes one of the top-performing Hyatt Hotels, which Olnick-Fisher completely renovated. The company now is in the midst of a multi-million dollar renovation of Headquarters Plaza’s full-service, on-site health club, which will include the introduction of a spa component.”

According to Brian Fisher, president of the Fisher Organization, Cushman & Wakefield’s involvement contributes to the property’s success. “The leasing team brings a high level of energy and focus into Headquarters Plaza’s marketing, just as we continue to invigorate the facilities and amenities here,” he said. “All of this effort to improve upon an already great product is complimented by the continued renaissance of downtown Morristown, which is introducing new upscale housing, dining and retail.”

Cushman & Wakefield’s occupancy and growth at Headquarters Plaza attests to this vibrant atmosphere. “We have been in Morristown for three years, and this location has been an asset in terms of providing quality of life for our employees,” Williams said. “Every possible amenity is either on site, or just a block or two away, and the downtown redevelopment continues to add to the neighborhood’s overall appeal.”

Current availabilities at Headquarters Plaza vary from small suites to full floors of 16,500 square feet each. The Hyatt Regency offers 34,000 square feet of meeting space and services. The complex also includes a 125,000-square-foot retail, service and dining component; a Clearview Cinemas movie theater; and 3,500 covered parking spaces. Headquarters Plaza is easily accessible from routes 10 and 202, and I-287, and within walking distance of the Morristown Train Station.