Headquarters Plaza in Morristown
By Joshua Burd
A health and wellness company has extended and expanded its lease at Morristown’s Headquarters Plaza, where brokers say it will now occupy nearly 17,000 square feet.
According to Colliers, which represented the tenant, PLT Health Solutions has been based at the complex’s North Tower for more than 30 years. The new long-term lease will add 6,500 square feet to accommodate the growth of a business that discovers, develops and markets high-quality, scientifically supported ingredient solutions for the natural products, food, beverage and cosmeceuticals markets.
Colliers executive managing directors Samuel Horowitz and Chris Hovanec and Associate Ray Iodice completed the deal for the real estate services firm. Cushman & Wakefield Executive Managing Director Robert Donnelly and Executive Director Benjamin Brenner represented ownership in the 16,500-square-foot transaction.
“Morristown has been the home of PLT for decades and we consider the location perfect as a headquarters for an expanding global business — with its proximity to the infrastructure and talent pool of the New York metropolitan area and as a great lifestyle opportunity for all of us who work here,” said Devin Stagg, PLT’s chief operating officer. “Our new facilities reflect the creativity and commitment to human health and environmental friendliness that are hallmarks of the PLT business.”
Colliers noted that the 13-floor, 198,000-square-foot North Tower, part of the three-building Headquarters Plaza, has views of the Morristown Green and is steps from the downtown. It’s also minutes from the Morristown train station and provides easy access to nearby highways.
Additionally, Headquarters Plaza has a 125,000-square-foot retail segment featuring two full-service restaurants and a gourmet café, along with a Hyatt Regency Hotel.
“We’ve worked with PLT for several years and we were thrilled to work with them again on this project,” Hovanec said. “It was a unique process. We kicked off the project before the pandemic, and as COVID-19 became a fixture in our daily lives, we were forced to reassess and rethink both the market and design of the space. Ultimately, PLT was able to create a workplace for its staff with a new, modern design that supports how the company functions, and delivers an environment that gets staff excited to return to the office.”