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Cushman & Wakefield Completes 16,500-Square-Foot Office Lease in Morristown

| February 10, 2015 | 0 Comments

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Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073

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Release Date: Tuesday, February 10, 2015

Media Contact: Evelyn Weiss Francisco (201) 796-7788

Advanced Systems Concepts will Nearly Double its Space at Headquarters Plaza

MORRISTOWN, N.J., Feb. 10, 2015 – Cushman & Wakefield has completed a 16,500-square-foot long-term office lease with Advanced Systems Concepts, Inc. at Headquarters Plaza in Morristown in a transaction that will nearly double the software engineering and consulting company's occupancy. Advanced Systems Concepts, which utilizes the site as its corporate headquarters, was represented by Jon Williams of the commercial real estate firm's Morristown office. Robert Donnelly, Jr. and Ben Brenner, also of the firm's Morristown office, represented the owners, a partnership between the Olnick Organization and Fisher Development Associates.

"Advanced Systems Concepts has taken a full floor at Headquarters Plaza's West Tower, relocating from the third floor, where they occupied 8,500 square feet, to the fourth floor," said Williams. "We completed the company's initial move from Parsippany to Morristown five years ago. What attracted the company to Morristown was access to the town and the feel of being in a downtown location, with access to mass transportation, housing, and the amenities both of Headquarters Plaza and the surrounding area – and the typical live-work lifestyle that most corporations want today."

"Morristown is very centrally located in terms of both mass transit and highways," said Ben Rosenberg, president of Advanced Systems Concepts. The company, founded in 1981, licenses software products to Fortune 500 companies in a wide range of industries, including finance, healthcare, and government. Its flagship product, ActiveBatch®, is a global leader in enterprise IT automation with more than 1,600 customers in 46 countries.

"Mass transit is becoming more important for us as we recruit from Hoboken and further east," said Rosenberg. "We're aggressively growing, and we needed office space that would be flexible and shift with our changing requirements. Working with Cushman & Wakefield was a pleasure ­- they understood what we needed and what we were looking for in a long-term lease. They represented us and the owners of Headquarters Plaza to create a win-win lease."

Cushman and Wakefield's latest reports on urbanization and millennial workplace preferences show that the value-premium for commercial developments and workplaces near walkable, urban centers cannot be overstated – from improving a city's chances of attracting the best young talent to the revitalization of the urban core.

The West Tower, located at One Speedwell Avenue, is built atop a five-level parking garage. It is one of Headquarters Plaza's three class A office towers totaling 571,000 square feet. The complex's on-site amenities include the Hyatt Regency Hotel, day care, health club, restaurants, shops, and over 31,000 square feet of meeting space.

"On behalf of the ownership, we are very pleased to continue the long history of accommodating tenants' changing business needs within the Headquarters Plaza complex. Advanced Systems Concepts is an important tenant, and we look forward to having them here for many years to come" said Donnelly.

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