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Cushman & Wakefield Awarded Agency for Morristown’s Mt. Kemble Corporate Center

| July 16, 2015 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.350 360 Mt  Kemble pic
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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229,500-Square-Foot Class A Office Campus is Owned by Onyx Equities

MORRISTOWN, N.J., July 16, 2015 – Cushman & Wakefield has been named exclusive leasing agent for Mt. Kemble Corporate Center, a two-building, 229,500-square-foot office complex at 350-360 Mt. Kemble Ave. in Morristown. The commercial real estate services firm’s East Rutherford, N.J.-based team of Executive Vice President – Americas Marc Trevisan; David DeMatteis, director; and senior associates Mark Zaziski and Jason Tenenbaum are handling the assignment on behalf of owner Onyx Equities.

The property’s current availability is approximately 90,000 square feet. “The largest block of contiguous space is 54,000 square feet on two floors,” said DeMatteis. “The availability is also divisible to 2,000 square feet.”

Current tenants at Mt. Kemble Corporate Center include Coughlin Duffy Kelly, which occupies the entire top floor of the 350 building and recently renewed long-term, “demonstrating its commitment,” said DeMatteis. Others include Alliant Technologies, Artech Information Systems, Taisho Pharmaceutical, and Massey Quick.

“The property has very good connectivity with dual fiber feeds, Level 3 and Optimum Light Path high-speed cable, and it has a full back-up generator,” said DeMatteis. “Those are key reasons why technology companies have chosen to locate in these buildings.”

CAPITAL IMPROVEMENT PROGRAM

Constructed in 2001, the property recently underwent a major capital improvement program, with renovations completed to the lobbies, on-site cafeteria, hallways, elevators and restrooms. The fitness center is next slated for upgrades.

“Onyx also put a lot of capital into the landscape and hardscape outside,” said DeMatteis, noting that the buildings occupy 38 acres in a park-like setting with a three-acre reflecting pond and walking/jogging/biking trails.

And the setting is just five minutes from the Morristown Green and Morris County Courthouse. “A shuttle service is being added to downtown Morristown,” said DeMatteis. “The Green is almost full when it comes to office space, and based on location and accessibility, Mt. Kemble Corporate Center is clearly an attractive alternative for those companies requiring a large block of space and want the benefits of being on the Green.”

The location also provides easy access to I-287, I-78, I-80 and Routes 24 and 202/206, with Exit 33 (Harter Rd.) of I-287 just 1.5 miles away. The Morristown and Convent Station train stations are less than five miles away, and New York City is less than 30 miles away.

The Morris County office market saw strong momentum in the first half of the year, according to Cushman & Wakefield Research, accounting for 36.6 percent of Northern New Jersey’s leasing activity year-to-date. Demand is expected to remain healthy throughout the remainder of 2015, as several substantial deals and a multitude of mid-sized leases are on the immediate horizon throughout Northern New Jersey.

“Given the prime location, the recent upgrades, the strength of the ownership, and the market’s momentum, we anticipate a great deal of interest in the availabilities at 350-360 Mt. Kemble Avenue,” said DeMatteis.

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