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SJP, SCOTTO EYE GROUNDBREAKING FOR NEW VALLEY BANK OFFICES
soon as the third quarter.
Valley Bank’s new headquarters is designed to achieve certification on
the U.S. Green Building Council’s LEED scale, while featuring a balance of glass, metal and warm brick tones that embraces the character of the neighborhood, according to a news release. SJP also plans to integrate technology, sustainability measures and concierge-style services that bolster the employee experience in order to help the bank attract and retain top talent.
Other design elements include floor-to- ceiling windows, abundant natural light and skyline views, along with operable glass walls that open to three outdoor terraces and a ground-floor lobby entrance with soaring ceilings. The building, meantime, will have 14,500
square feet of available retail space, a portion of which is slated to include a new Valley retail banking branch.
“As Valley continues to evolve into a forward-thinking financial institution, we view Morristown as the ideal location for our immediate and long-term future,” Valley CEO Ira Robbins said. “Having partnered with and supported many Morristown organizations and nonprofits over the years, we are excited to establish a permanent home within this vibrant community. SJP Properties has a proven track record of creating and operating exceptional workplaces that propel the success of the businesses that occupy them — making them the perfect partner to envision and build our new base of operations.”
A development team is planning a spring groundbreaking for the new 120,000-square-foot office building in Morristown that will become the headquarters of Valley National Bancorp.
SJP Properties, in partnership with Scotto Properties, announced in early March that demolition is underway
at the project site along Speedwell Avenue, which comprises a string of vacant structures on five lots. Delivery of the new building is slated for March 2023, when Valley Bank is projected to bring more than 660 professionals to the popular downtown.
The lender, which was represented in the lease by Newmark Vice Chairman David Simson, is currently headquartered in Wayne.
“As today’s recruiting market becomes increasingly competitive, it’s critical to create a workplace environment that excites and encourages professionals to come to the office,” said Steve Pozycki, CEO of SJP Properties. “Having a beautiful yet flexible office design that
promotes health and wellbeing, offers access to the outdoors and is integrated within a vibrant community is no longer a perk — it’s a requirement.
“With this latest office development in Morristown,
we saw the
opportunity to
leverage the
features that
make the town a
desirable place
to work and live,
while creating a
high-performance
headquarters for Valley’s professionals, who will further invigorate the downtown district as they become part of the local community fabric.”
Designed in tandem with Gensler,
the building will be steps from SJP
and Scotto’s M Station project, a 373,000-square-foot office and retail complex that will span two buildings along Morris Street. Deloitte LLP is set to occupy the east building under a 110,000-square-foot lease announced in January 2020, with plans to move in as
Steve Pozycki
A new build-to-suit office building by SJP Properties and Scotto Properties will bring Valley National Bancorp’s headquarters to downtown Morristown, as depicted in this rendering of the 120,000-square-foot project.
Shaping New Jersey’s Landscape for Over a Century
When it comes to real estate law, we know our way around. For over a century, Wilentz has contributed to the development of New Jersey — north to south, east to west.
We represent clients in every facet of real estate development and redevelopment.
As seasoned legal advisors, we have been successfully negotiating and
decades. From site acquisition, construction and regulatory concerns
points that matter. Let us get to know you and your business and discover a legal team that gets deals done right.
Todd E. Lehder
Co-Team Leader (732) 855-6462
Laurie E. Meyers
Co-Team Leader (732) 855-6065
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Rendering by Gensler/Courtesy: SJP
