Park Avenue at Morris County in Florham Park — Courtesy: Avison Young
By Joshua Burd
The new owner of a sprawling six-building office campus in Florham Park has retained Avison Young as its leasing agent for the property.
The real estate services firm, which has overseen leasing since 2013, announced Tuesday that it will remain in place at the 1.16 million-square-foot Park Avenue at Morris County. It will now work on behalf of Liberty Properties LLC, a New York City-based private investor, which acquired the campus from KBS earlier this year in a $311 million deal.
Avison Young has brought occupancy at the property to nearly 90 percent since it began as the leasing agent, according to a news release. The 135-acre campus, which sits directly off Route 24, has benefited from a multimillion-dollar upgrade that includes new high-end amenities, roofs and HVAC units, along with updated elevators, a dedicated shuttle to the Madison train station and other interior and exterior improvements.
“The high-quality tenant mix and extensive amenity base were key drivers in attracting Liberty Properties to Park Avenue,” said Brian Haimm, Liberty Properties’ chief financial officer. “The park has been well-maintained which allows Liberty to focus on adding to the amenity base and lease the remaining vacancy. We understand what companies want out of their office space and look forward to providing a product that exceeds tenants’ expectations.”
Park Avenue at Morris County is home to a mix of institutional tenants, with headquarters-quality construction and a prime commuter location with train access to Manhattan from the nearby Madison station. The site is also minutes from downtown Morristown.
“The upgraded Park Avenue at Morris County offers tenants the opportunity to work in a truly modern, amenity-rich office park in one of New Jersey’s most attractive locations,” said Jeffrey L. Heller, an Avison Young principal and its managing director of New Jersey. “It’s been a privilege to represent this premier campus over the last seven years and we’re proud that the work of the Avison Young leasing team has made it one of the most sought-after business addresses in the state.
“We look forward to building on all our previous successes and working in tandem with the new ownership at Park Avenue at Morris County as we continue to promote this best-in-class property that offers everything today’s tenants look for in a modern office environment.”
